business

Tips for Implementing a Cloud ERP Software Solution What is ERP software? Enterprise Resource Planning software, more often referred to simply as ERP software, is a business software solution used by companies to: Improve the efficiency of operations Boost employee productivity Perform in-depth analysis of company data ERP software is able to provide its benefits primarily by centralizing company data into a single computer database. By doing so, ERP software is able to process company data as a whole rather than in fragments spread across different departments....

Cloud-Based vs On-Premise: Comparing Costs & Benefits What are Cloud-Based Servers? Cloud-based servers consist of a pool of resources hosted on physical computer servers. These physical servers are owned and operated by a third-party, such as Amazon Web Services or Microsoft Azure. The physical servers are distributed geographically for robustness, and are housed in secure, professionally-managed data centers. Companies that use Cloud-based servers do not own or control the physical servers....

Public Clouds vs. Private Clouds What are public clouds? Public clouds consist of shared IT resources, such as computing power (servers), networking services, and data storage. Public clouds are the most common type of cloud, and references in the IT world to “the cloud” usually mean a public cloud. With public clouds, resources are managed by a third party, known as a cloud hosting provider. Cloud hosting providers include Amazon Web Services, Microsoft Azure, Google Cloud, and Oracle Cloud....

Raising Capital Introduction One of the leading reasons that new businesses fail is because they run out of sufficient capital to continue operating. Capital, in the business world, refers to the assets a business accumulates over time that it uses to continue its operations. Regardless of whether you are running a business that sells products, or a business that provides services, it is imperative that your business always maintain sufficient capital....

How to Develop a Winning Business Plan Introduction Every successful business starts off with the development of a comprehensive business plan. Without a business plan, business owners are unable to: Set goals and determine whether or not these goals are being met Create strategies to achieve important milestones Persuade potential investors that the business can provide a return on investment (ROI) It is tempting for new entrepreneurs to begin doing business right away....

Accounting 101 Introduction In order to run a successful business, you need to know: Where money is coming from; Where money is going; What the business owns; and What the business owes. Without this information, it is impossible to determine: How well your business is performing; and Where improvements can be made. Further, you will experience difficulty: Preparing taxes; and Obtaining financing. Accounting helps you run a successful business....

Hackers and cybercriminals can easily take over your company’s valuable data if you’re not using two-factor authentication (2FA). Continue reading to learn more about 2FA and how MDS IT Services can help implement it for your company. What is Two-Factor Authentication? Two-factor authentication, also known as 2FA or multi-factor authentication, is a security feature that, when enabled, requires more than a password to be entered to access online accounts. You might have already encountered forms of 2FA....