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What is ERP?

ERP stands for Enterprise Resource Planning. It refers to a type of software system that organisations use to manage and integrate the important parts of their businesses. ERP systems are designed to automate and streamline processes across finance, human resources, supply chain, manufacturing, procurement, and other core functions. They provide a centralised database and a unified platform for various departments to store, interpret, and manage data in real time, enabling efficient decision-making and operational management.

Enterprise Resource Planning (ERP) systems have undergone a remarkable transformation over the past few decades, evolving from cumbersome legacy systems to agile, cloud-based solutions that redefine efficiency and scalability in modern business operations. This journey not only reflects technological advancements but also underscores the strategic shift towards digital transformation and data-driven decision-making.

A Legacy of Complexity

Historically, ERP systems were synonymous with complexity. Developed in the 1960s and 70s, these early solutions were primarily mainframe-based, designed to streamline core business functions such as finance, human resources, and supply chain management. However, they often required extensive customization, were costly to maintain, and lacked real-time data accessibility.

Advancements Driving Change

The turning point came with technological advancements in the 1990s and 2000s. Client-server architectures allowed for decentralized computing, making ERP systems more accessible and easier to integrate with other software applications. This era also saw the rise of modular ERP solutions, enabling businesses to implement specific modules based on their needs, rather than deploying monolithic systems.

The Rise of Cloud ERP

The advent of cloud computing in the late 2000s revolutionized ERP deployment models. Cloud-based ERP solutions offer unparalleled flexibility, scalability, and accessibility. Organizations no longer need to invest in extensive hardware infrastructure or manage complex software updates. Instead, they could access ERP functionalities via the Internet, with vendors handling maintenance, security, and upgrades.

Benefits Driving Adoption

Cloud ERP systems provide several distinct advantages:

The Path Forward

Looking ahead, the evolution of ERP systems continues. Artificial intelligence (AI) and machine learning are being integrated into ERP platforms, enhancing automation, predictive analytics, and decision support capabilities. Blockchain technology holds promise for enhancing transparency and security in supply chain management and financial transactions.

Blog penned by our ERP Marketing Specialist,  Samyuta Pillamarri   

WELCOME TO SOFTLABS NEWSLETTER!

Dear Members of Our Thriving Community,

Welcome! Whether you are stepping into a new role, engaging as a valued client, or supporting us as a partner, we are delighted to have you with us. This newsletter serves as a beacon of information, keeping you abreast of the latest developments, thrilling projects, and upcoming events unfolding within SoftLabs.

It’s more than just a bulletin; it’s a platform for sharing insights, lauding achievements, and fostering connections within our vibrant community. Dive into the array of opportunities and resources available at SoftLabs; let’s collaborate to craft impactful solutions, cultivate meaningful relationships, and effect positive change together.

Thank you for being a part of our journey. We look forward to building a brighter future together!

INSIDE THIS ISSUE:

Snippets:

1. SIMBA Awards 2024, Powered by SoftLabs
2. SoftLabs steps out for a cause. Supporting SCG’s mission with space walk show
3. Our MD, Sreeni Pillamarri honors ANZAC Day
4. Crypto Currency: A Revolution in Digital Finance

Current Openings

1. Cloud Administrator
2. Salesforce Developers

Apply at: https://www.softlabs.com.au/job-openings/

“Strive not to be a success, but rather to be of value” –Albert Einstein

SoftLabs 

Blog by our Resourcing Analyst, Maneesha Nair  

ChatGPT (Chat Generative Pretrained Transformer) is an AI conversational bot developed by OpenAI. It serves as a virtual assistant capable of responding to inquiries and aiding in tasks such as coding, composing essays, and drafting emails. It mimics human-like text conversations, engaging in dialogues, providing answers, and completing sentences. ChatGPT finds applications in various domains, including customer support, language translation, and content creation. However, it’s important to note that while ChatGPT can simulate human-like interactions, it lacks consciousness or genuine understanding akin to humans. For software developers, ChatGPT represents both a blessing and a curse, depending on how it is utilised. 

Features of ChatGPT: 

1. Provides Aid: ChatGPT aids in content creation endeavours by generating concepts, furnishing data, and suggesting ideas based on user input. 

2. Tailored Approach: ChatGPT is adept at tasks requiring tailored solutions, allowing for a degree of customisation. 

3. Content Origination: Facilitates content creation efforts by generating concepts, imparting information, and suggesting ideas based on user input. 

4. Textual Generation: Generates text in response to a provided prompt, making it applicable for tasks such as text augmentation, condensation, and imaginative composition. 

Advantages of using ChatGPT: 

1. Educational Instrument: Functions as an educational instrument, elucidating intricate programming principles or delivering tutorials on diverse programming languages and frameworks. 

2. Collaborative Medium: It facilitates intra-team communication by generating lucid and succinct elucidations of technical concepts. 

3. Idea Generation: It acts as a valuable ideation collaborator, furnishing perspectives and recommendations for addressing coding dilemmas or conceptualising new ventures. 

4. Coding Aid: It aids in coding efforts by providing code snippets, explanations, or debugging insights, allowing developers to overcome obstacles more efficiently. 

Disadvantages of using ChatGPT: 

1. Constrained Innovation: It exhibits limitations in creativity, potentially facing challenges in generating authentically novel concepts or content. 

2. Contextual Comprehension Limitation: It struggles to grasp context beyond individual interactions, resulting in responses that may be incongruous or unsuitable in specific scenarios. 

3. Error Detection Complexity: Identifying errors can prove challenging, as it may produce inaccurate or detrimental responses. Rectifying such errors may necessitate human intervention, posing time-consuming and arduous tasks. 

4. Privacy Implications: Disclosure of personal or sensitive information to ChatGPT may raise privacy apprehensions, particularly if the data is stored or utilised beyond the user’s purview 

   Blog penned by our sourcing specialist, Maneesha Nair  

Human Resources is the backbone of company success in promoting goals and efficiently managing employees. HR frames suitable guidelines to achieve long-term goals. Employees should follow the guidelines and policies they created.

Functions of HR:

Human Resources is also known as personnel management and follows the best practices and guidelines to reach the organisational goals from the initial induction phase, i.e. Securing the ideal candidate precisely when needed is paramount for seamless team integration and operational efficiency. They are tasked with overseeing the onboarding process for the individual’s growth.

Performance management is an integral part of HR which helps to identify and understand the employee’s performance in their job and how well they are working to reach their Key Performance Indicators (KPIs). To foster employee engagement and retention, offering both financial incentives and non-monetary perks is crucial.

The payroll function manages the financial aspect of employee compensation, where they work on the payroll application, which automates attendance data collection, net pay calculation, salary distribution, tax filing, and more.

Hybrid Work Culture:

Nowadays, people have been introduced to a new work style model called “Hybrid Work”. Hybrid work refers to a workforce that combines both remote and in-person participation.

As per the Chartered Institute of Personnel and Development, Hybrid working represents flexible working that involves employees working some of their time remotely and some in the employer’s workspace.

Why is there an increasing demand for hybrid work?

1. Employee preference: The recent global pandemic underscored the significant value that many workers place on flexibility and the option to work remotely. Studies indicate that hybrid models are highly sought after as they strike a balance between individual autonomy and collaborative office work.
2. Business advantages: Companies see hybrid work as a way to potentially reduce office space costs, tap into a wider talent pool, and enhance employee satisfaction.
3. Technological advancements: The advent of cloud-based tools and collaboration platforms has greatly improved the feasibility and attractiveness of remote work.
4. Addressing burnout challenges: Managing the intersection of personal and professional life is crucial to preventing burnout. This entails promoting healthy boundaries, providing mental health resources, and encouraging regular breaks.

The hybrid work model is still evolving, with its full implications yet to be realized. Organisations can harness their potential by adopting a data-driven approach, fostering innovative collaboration methods, and prioritizing employee well-being.

Challenges in the evolving hybrid landscape:

1. Building team cohesion and corporate culture: Maintaining a strong sense of identity and encouraging teamwork can be challenging with a dispersed workforce.
2. Ensuring equity and inclusivity: Remote workers should not face disadvantages compared to their office-based counterparts. Inclusive meeting practices, fair access to resources, and transparent communication are essential.
3. Performance management: Flexible methods for evaluating performance are necessary in a hybrid work environment.
4. Technology and security: Strong cybersecurity measures and carefully selected technologies are vital to ensuring data privacy and seamless communication.

Human Resource Planning plays a pivotal role in enabling organisations to synchronise their workforce with strategic objectives, anticipate and adapt to change, optimise resource utilisation, and foster employee engagement and retention in the context of a successful hybrid work model. HR sets objectives that include clear guidelines for employees to work both in-office and remotely as needed, facilitates access to necessary resources, and promotes team-building activities through both in-person and virtual means, employing asynchronous communication methods to encourage interaction and trust among team members. Embracing a people-centric approach is crucial to creating a hybrid workplace, characterised by remote meetings, group chats, virtual lunches, and clearly defined expectations. Consistent feedback and a well-defined performance management plan are essential for guiding employees in managing their performance effectively

——- Blog penned by our sourcing specialist, Swapna Rao

Let’s celebrate all of our accomplishments to date as the holiday season draws near. SoftLabs is steadfast in its commitment to delivering our partners and clients with seamless service and support. In this month’s newsletter, we discuss our new Business Associations and our efforts to uphold performance excellence.

Please read the blog penned by Xen Zambas, our Country Manager for New Zealand at Inetora, (a subsidiary of SoftLabs)

Snippets:

1. Navigating the 4th Industrial Revolution: The Interplay of Key Technologies, Core, and Competencies by Rade Bogdanovic
2. Garima Sharma, Director Operations delivers a speech at the event: SoftLabs Anniversary Gala Dinner
3. SoftLabs and AU Manufacturing Webinar: Your Digitisation Journey
4. Rade Bogdanovic, Director (Products & Solutions)- Aged Care & Manufacturing
5. Partnership with Fortinet: Leader in the 2023 IT/OT Network Protection Platforms Navigator™ by Westlands Advisory

Community Engagements:

Current Opportunities:

1. Senior Architect (ERP Architect)
2. Project Manager – Dynamics CRM Events Module

For more details, please visit our website https://www.softlabs.com.au/job-openings/ or share your resume with cv@softlabs.com.au

“Do not follow where the path may lead. Go instead where there is no path and leave a trail.” -Ralph Waldo Emerson

SoftLabs

In today’s digital age, businesses are becoming more reliant on technology to maintain their daily operations. Operational technology (OT) is a critical component that helps to automate and manage industrial processes. However, with the increasing use of technology, businesses are vulnerable to cyber-attacks, which can lead to significant losses in revenue and reputation. Therefore, it is essential to understand the importance of OT in safeguarding digital assets and the role it plays in cybersecurity.

Introduction to Operational Technology (OT)

Operational technology (OT) refers to the hardware and software used to monitor and control physical processes in industries such as manufacturing, energy, and transportation. It includes systems such as Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLC), and Distributed Control Systems (DCS). These systems work together to ensure smooth and efficient industrial operations.

OT systems differ from traditional IT systems in several ways. Firstly, they operate in real-time, meaning that any delay or interruption could have severe consequences. Secondly, OT systems are designed to last for many years, with little change to their configuration. This makes them vulnerable to cyber-attacks as older systems may have security flaws that have not been addressed. Lastly, OT systems are often connected to the internet, making them accessible to hackers worldwide.

Understanding the Importance of Cybersecurity in the OT Environment

In modern factories and industrial premises, infrastructures of IT and OT are increasingly being integrated as the air gap that previously kept OT systems nearly shielded from cyberattacks is gone. As a result, the attack surfaces of industrial organizations have greatly expanded. Add to this, the increased deployment of Industrial-Internet-of-Things (IIoT) devices. With OT’s new susceptibility to the IT threat landscape and the high value of targeting production environments that increase an organization’s motivation to pay a ransom, it is clear why protecting OT has become vital.

SCADA (Supervisory Control and Data Acquisition) is a critical component in OT cybersecurity. SCADA systems are responsible for monitoring and controlling industrial processes, making them a prime target for cyber-attacks.

SCADA systems are often connected to the internet, making them vulnerable to cyber-attacks. Therefore, it is essential to secure SCADA systems to prevent unauthorized access and potential cyber-attacks.

Case Studies: Real-World Examples of OT Cybersecurity Breaches

Florida Water Treatment Plant Case

In early 2021, a hacker was able to access a Florida water treatment plant monitor software that can adjust the level of sodium hydroxide (lye) in water via remote access. 

The attacker attempted to adjust the lye level up to 11,100 ppm which potentially could have severely impacted the health of 15,000 citizens living in the area. Luckily, an employee noticed the suspicious remote access when the bad actor was operating the mouse on the screen to adjust the lye setting. He quickly changed the systems back to the normal settings and informed the management about disabling all remote access.

Triton/Trisis Case

A malware attack that targeted a Saudi Arabian petrochemical plant

In December 2017, newly discovered malware was launched against a petrochemical plant in Saudi Arabia. The malware itself was notable in that it was specifically designed to manipulate safety systems in critical infrastructures. The malware, called TRITON or TRISIS, was the first to deliberately target systems that functioned to prevent life-threatening accidents and serious physical damage.

How to Safeguard Critical Infrastructure

Preventing Industrial Control System (ICS) attacks requires layered and tailored security. An organization should cover the basics of securing its own specific OT environment, and conduct proper surveys, updates, and maintenance. It is essential to have best practices in place. Proper security strategies also have to be implemented as part of daily operations. Some best practices are below:

1. Apply network segmentation using the Purdue Model for Control Hierarchy. 
2. Assess ICS systems to thoroughly identify the different kinds and levels of risk, and then install the corresponding safeguards.
3. Get network and device security solutions specifically for ICS and SCADA.
4. Implement the basic steps of asset inventory tracking & segmentation. Employ more advanced micro-segmentation and virtual patching solutions to protect devices against known vulnerabilities.
5. Collaborate across IT, OT, and production teams to adequately assess cyber and production risks, specifically ransomware incidents, and inform the CISO to ensure proper awareness, prioritization, budget, and personnel allocations.
6. Develop a vendor and OT cybersecurity platform strategy. Many new security solutions are being introduced, yet the personnel gap widens. Also, as your security posture matures, seek to engage with vendors with a wide portfolio of solutions that can provide the basic solutions of asset inventory and segmentation to more advanced solutions such as an OT SOC or the ability to support a joint IT/OT SOC.

Reference : Blog written by our Presales Solution Engineer – Sid Sen –https://www.linkedin.com/pulse/unveiling-hidden-threats-exploring-role-operational-technology-sen%3FtrackingId=eD9GdnQ32EHQFUSLRPHT%252Fw%253D%253D/?trackingId=eD9GdnQ32EHQFUSLRPHT%2Fw%3D%3D