Palladium Accounting V10 - Palladium

Palladium enters the big league with version 10

Palladium Business Solutions has announced that it is launching Palladium Accounting version 10, a feature-rich and powerful version that has propelled Palladium into the next generation of ERP solutions.

Additionally, the company has also maintained pricing levels that are typically associated with lower-end, generic accounting solutions extending the net for more businesses to take advantage of these features. For consumers, this means Palladium can help clients elevate their businesses to the next level, at a highly affordable price.

Since Palladium did not isolate and target specific industries in its development, it is now in the desirous position of having developed an accounting solution that caters for the needs of most types of organisations, ranging from the single user start-up business, right through to the larger enterprise.

“To start with we will now have a segmented general ledger of up to 10 levels – allowing our clients to have simple, or complex general ledger structures, a luxury that was previously only available in the most expensive and elusive ERP solutions,” says Stephen Corrigan, managing director of Palladium Business Solutions.

“From an inventory or distribution point of view, we have included item mass and volumetric weights, to manage the order or shipment weights on sale as well as purchase documents. It doesn’t stop there as this has also been extended to calculate complex delivery rate structures from a single flat fee to a rate table structure, to make sure no money is lost in the fulfilment of orders,” he explains.

The latest version also caters for inventory buyouts so that companies selling ‘non-core’ items no longer have the inconvenience of creating a new item per buyout. They simply select the buyout item, enter the unit cost and the system does the rest.

“What clients generally fail to realise is that a lot of businesses pay staff inflated commissions on buyout items as these legacy systems traditionally don’t manage the individual buyout item costs,” he adds.

There is a new module that caters for the repackaging of inventory items, where the repackaging job is controlled by weight to ensure that every gram is accounted for, before it can be closed.

One of the new key features is container-items where it is possible to add one or more of ‘contained’ items per quantity of the parent item sold. The reason for this is that the amount of ‘hidden money’ that is lost by businesses on a monthly basis on their Container, or Pallet, usage and lack of management controls is prolific and can make a severe impact on the bottom line.

Another feature of Palladium’s inventory management is the handling of the minimum and maximum levels, Inventory usage over a pre-defined period, safety factors and vendor lead times. It is all about optimising stock levels and keeping the cash where it belongs, in the bank.

The common theme emerging is version 10’s stringent cost control capabilities and this is further demonstrated by the introduction of Inventory Requisitions. This enables businesses to augment basic store controls for employees requiring inventory issues to jobs or even for internal consumption or as samples.

“Another one of the other more practical features is the management and control of open quote and open order cancellations with reason codes so that management can review and control the opportunity cost relating to running a business,” he says.

Another area of Palladium that has benefited from the extensive development is the manufacturing module that has been extended to include work centres, or steps of production, making it easy for production managers to identify where the use of material or labour usage is outside that of the standard bill of materials.

We will also be launching a mobile ordering application together with Purchase Quote and Order approvals to our clients’ mobile devices, alleviating the need to log into the Palladium application,” he adds.

No contemporary system would be complete without the glamour and integration with Microsoft’s new Power BI functionality that essentially allows our clients to access key information to their tablets, browser or mobile phones for a nominal fee.

Corrigan is excited about the developments for a number of reasons. “First and foremost, they are customer requests so we are aware that these features are meaningful out there in the marketplace and not just good ideas from our development team.”

“What is exhilarating for our clients is the rate at which we are releasing these prolific features, and up until now has been unheard of in the accounting software market,” he says.

“We truly believe that these feature will assist our clients in increasing turnover, improving margins and improving operational efficiencies and at the end of the day that is the quintessential in keeping your business profitable in today’s competitive age,” he concludes.