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Take Direct Control of Your Trading Business

TAKE DIRECT CONTROL OF YOUR TRADING BUSINESS
(By Vijay A. Advani)

Many small businessmen, whether in manufacturing, trading or services, rarely have real and direct control of their businesses; for them to get a grasp of the various aspects of running a business is a very arduous and complicated process, and they have to have an additional manpower team to effectively run their businesses. Even to manage a small business, a businessman has to rely on his accountant, the clerical staff, office staff, the sales staff, and so on. It is a fact that many a businessman, at the end of the day, is interested in knowing how much profit his business is generating for him and how much taxes he has to pay. He probably makes his mental calculations and decides on what items he needs to deal in, what prices he needs to fix on the various items to make a reasonable profit. His calculations are generally based on a mental note, but because of the dynamics of any business, he does not have immediate access to various facts and figures. Very few businessmen understand the financial aspects of a business, and if asked they will simply direct you to their accountant; the accountant is given a free hand to devise a strategy which will help the company to save taxes, and he will base his accounting system in tune with what his consultant and tax authorities need. But the owner rarely ever understands the accountant’s language nor what the accountant is doing: The businessman is never really in control of his business and he has no way of knowing whether what he wants is what his accountant is giving him. For a businessman to be the master of his own business, he needs to take full control.

That is where a product like TRADEANNEX®…. TRADING ERP SOFTWARE can revolutionize the manner in which businesses can be run: It gives real time and up-to-date information about the entire trading business with a click of a button, immediately informs the businessman about the day-to-day transactions of his business, immediately tells the businessman about the movement of his stocks, about the profitability of each and every transaction, gives him immediate information about his debtors/creditors, his cash / bank balances, and so on in the language he is able to understand. And the businessman does not have to be an accountant to know all this, in fact he can now even follow his accountant’s language and effectively communicate with him with the greatest of ease.

TRADEANNEX® ERP software has been developed and running successively in India and has the following immediate applications:
1. The Indian Merchant Trader
2. The linking of various Indian principal companies with their vast Dealer Networks across India.
3. The Educational Institutes.

1. THE INDIAN MERCHANT TRADER:

With one copy of the software, the businessman can create one or multiple subsidiary companies, each one being separate and may be different from the other, viz.

XYZ Home / Office Appliances Co.
XYZ Automotive Co
XYZ Automotive Parts Co
XYZ Bathroom Fixtures Co
XYZ Cement Co
XYZ Chemical Co
XYZ Computer Peripherals / IT Services Co
XYZ Construction Co
XYZ Electrical Goods Co
XYZ Electronic Goods Co
XYZ Furniture Co
XYZ Hardware Co
XYZ Machinery Co
XYZ Machine Tools Co
XYZ Paint Co
XYZ Plastics Co.
XYZ Ready-made Garments Co.
XYZ Retail Shop
XYZ Rubber Goods Co
XYZ Textiles Co
XYZ Textiles Accessories Co
XYZ Tyre Co
XYZ Watch Co

Once the Trader has created the desired cos., then for each company he has to first feed in the various basic data like the product range with their classifications & sub-classifications, the applicable Excise & VAT details, the customer names, the supplier details, bank details, etc. Once these basic data have been fed in then he is ready to start his business transaction using TRADEANNEX®. He begins his transaction by simply entering the purchase details of his incoming items in the Purchase Order at their purchase rates, supplier details, payment terms, commercial terms, delivery terms. In the next stage when he is ready to make his sale of any particular item, he has to fill in the Sales Invoice details by entering the sale price, customer name, payment term commercial terms, delivery terms.

These 2 basic transactions of purchase and sales are all that is needed to be entered by the businessman. These transactions may number from a few to hundreds per day. From here on, TRADEANNEX® takes over and these basic transaction details get automatically and instantaneously transferred to the Inventory books, the Financial books, the Excise books, the Sales tax & VAT books, and all the Management Information Systems. All necessary calculations are performed automatically and instantaneously. All documents, whether required for statutory purpose or otherwise are created automatically in the desired statutory formats as well as multiple formats and can be printed and exported to the desired destination by e-mail or fax by the click of a button. This is a very simplistic over-view of what TRADEANNEX® does, and in fact, TRADEANNEX® covers every aspect of the business requirement most exhaustively and instantaneously.

TRADEANNEX® is a ready-to-use product and is available for a single user, multiple users, multiple locations and can be connected seamlessly and effortlessly.

2. LINKING PRINCIPAL COMPANIES WITH THEIR DEALER NETWOKS:

For principal companies having a wide dealer / stockists network across India, to have effective and instantaneous co-ordination and exchange of vital information between the principal company and its dealer / stockist network, it becomes essential for the dealer network community to get linked with the principal co.’s ERP system. Generally, the ERP system adopted by principal cos. is expensive and dealers / stockists need a system which is non-expensive. TRADEANNEX® effectively brings about this important linkage through VPN service between the dealer community and the principal co.’s ERP system via a middleware proxy server, with continuous exchange and flow of data permissible and acceptable between the dealers and the principal co. For the principal co. the information flows between them and the dealers instantaneously and without interruptions, whereas for the dealer community, besides being linked with their various principal cos. for whom they are stockists, they also full control of their businesses as shown in ( 1) above. TRADEANNEX® is already well experienced in this field with quite a few success stories.

3. THE EDUCATIONAL INSTITUTES / COACHING CENTERS:

Now the times are changing for the Indian businessman, and whereas earlier Indian businesses comprised of a large number of manufacturing industries, with a majority of them belonging to the Small Scale & Cottage industries, now because of a shift in the govt. policy on imports and changing international trends, the cost of manufactured goods in India are much higher and their break-even points are far above the landed costs of many imported products. Indian trends are now changing, and it has become profitable for the Indian businessman to shift his focus to the Trading & Service industries. The Indian trader business is now going international, is becoming bigger and getting more sophisticated and is full of complications.

Where as earlier, trading business was comparatively on a small scale in India, and most traders in the Indian community picked up the business techniques down the line from their families, in the present scenario where trading business is getting to be on a much larger scale requiring more sophisticated and efficient systems, there is an urgent need for the Indian trader to be trained in a scientific manner with a curriculum which has been suitably designed and linked with a software system to impart the training in a simple but effective manner. This is a very potential need of the hour, calling for Educational Institutions / Coaching classes to urgently introduce a special subject on the ‘Trading business’; this opens up a completely new avenue for them: and TRADEANNEX® has been well designed to meet this demand.

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