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The Rise And Fall Of Netflix

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For the first time in over a decade, Netflix has lost 200,000 U.S. subscribers and expects to lose more. This would be shocking news if it weren’t for recent decisions by the steaming giant’s executives. The rise and fall of Netflix is a story of trendsetting domination to a single-day 35% plummet in stock value. 

To fix this, Netflix has proposed cracking down on password sharers and introducing ads

Are they sure they wanna do that? Netflix was once the cool kid for not having commercials. It even relied on password sharers in order to grow

What was once the future of media consumption has begun its inevitable downfall. The pioneer for streaming services has plummeted across the board. How did this happen? How could a company go from underdog to trendsetter to failure in just 20 years? 

This is another business tale of cheer and woe: the rise and fall of Netflix.

The Birth of DVDs

Netflix was founded in 1997 by Marc Randolph and Reed Hastings as an online DVD rental service. Hastings loves to say he was inspired to start Netflix after being charged $40 in late fees at his local Blockbuster. 

I had a big late fee for Apollo 13. It was six weeks late and I owed the video store $40. I had misplaced the cassette. It was all my fault.”

It’s a cute, relatable story, right? Well, it’s not true. It’s totally fabricated for marketing. Co-founder Randolph clarified in an interview:

The founding stories are just that, they’re stories. They’re constructs that we come up with to take what’s a very messy process with input from many, many people and condense it into a story which you can get across in a sentence or two.

Also known as an “elevator pitch,” the story of a company’s founding works as a sales pitch. Everyone loves a story, and Hastings told a good one. 

The real story of how Netflix was founded was much like every other tech company’s story in the late 90s. 

Hastings’s software company, Pure Atria, had just been sold for $700 million – a Silicon Valley record. Randolph worked as a marketing director for Pure Atria. The two came up with the idea for Netflix while carpooling between each other’s homes. 

Randolph admired Amazon’s large catalog of items to sell over the internet. Hastings and Randolph wanted to take that model and apply it to movies. VHS tapes were too easily damaged to sustain an online delivery service, but the brand new DVDs proved to handle travel well. 

And so, Netflix launched in 1998 with 30 employees and 925 titles available for rent. The races were off. 

The Death of Blockbuster

You can’t talk about the rise and fall of Netflix without mentioning Blockbuster. Despite being direct competitors, very different and specific business decisions led to Blockbuster’s eventual downfall that cannot be attributed to Netflix’s success. 

Still, it’s hard not to imagine Netflix being the company that “killed” Blockbuster. 

In 2001, DVD players were the hot holiday gift item. Netflix was in a position to be the cool alternative to Blockbuster as DVD subscription services were growing like crazy. But Blockbuster was still the king of movie rentals. It was an event for friends and families to visit Blockbuster on a Friday evening to rent the hot new flick or a timeless classic. 

But there was one thing that everyone equally hated about Blockbuster: Late fees. 

Netflix, despite totally having late fees at the start of their business, jumped on this with glee:

Being the sexy alternative to Blockbuster helped give rise to Netflix. Eventually, due to poor leadership and the Great Recession in 2008, Blockbuster eventually declined. Today, only a single store remains open in Oregon

Netflix continued to grow. By 2005, Netflix had 35,000 different films available and shipped 1 million DVDs in a single day. 

But that wasn’t all for Netflix. They were about to completely upend the movie industry. 

How To Binge An Entire Series In One Weekend

In 2007, Netflix launched its streaming media service. They had 1000 films available for stream and 70,000 available on DVD. With TiVO being the current “cool kid” in movie/television consumption, the original idea was to build a “Netflix box” where one could download movies overnight. 

The success of YouTube, however, nixed that idea. People didn’t want to download content, they wanted to stream it. 

Soon, Netflix acquired the streaming rights to series like The Office, Futurama, Friends, Breaking Bad, and many more. Viewers quickly latched onto this method like content junkies ready to fight sleep in order to watch “just one more episode.” 

Before you knew it, Netflix was inspiring other streaming services like Hulu. Their viewership grew and grew as regular cable viewership dipped. Networks like FOX, CBS, and NBC soon began to openly tease their own streaming services. Why should Netflix get viewers for NBC shows? 

With big networks in the rearview mirror, there was only one logical step forward for Netflix: original content. 

Netflix is the New HBO

In 2013, Netflix jumped into the world of original content. When House of Cards, Hemlock Grove, and Orange is the New Black first aired it harkened back to the Golden Age of HBO with The Sopranos, Sex and the City, and Six Feet Under

Netflix ran with original content as fast as they could. A deal with Marvel brought about Luke Cage, Jessica Jones, and Daredevil to the home screen. Comedies like BoJack Horseman, Unbreakable Kimmy Schmidt, Master of None, and Grace and Frankie expanded Netflix’s audience even further. 

By the time the blockbuster series Stranger Things premiered in 2016 to great success and acclaim, Netflix was the premier network. Everyone had a Netflix. And if you didn’t, why the hell not? 

Netflix was acquiring so much content at such a high rate that it soon became a joke amongst certain crowds that Netflix would buy anything

Exclusive, multi-million dollar stand up specials with comedy legends like Dave Chappelle, Louis C.K., Chris Rock, Jim Gaffigan, Bill Burr, Hannah Gadsby, Ali Wong, Jerry Seinfeld, and more garnered even more viewership. 

With a continuous stream of high-quality content, the desire for prestige soon followed. 

Here Come The Awards

Now that you have all the viewers in the world, you need the awards to cement their status as a major player in entertainment. Netflix didn’t want popular soap dramas to gobble up audiences, they wanted those shiny awards. 

Starting in 2019, Netflix began to dominate awards shows. Films like Roma, The Irishman, Marriage Story, Mank, The Trial of the Chicago 7, Don’t Look Up, The Power of the Dog, Ma Rainey’s Black Bottom, The Two Popes, 13th, Icarus, My Octopus Teacher, and many more were bestowed Oscar nominations and wins. 

Netflix also dominated television. Starting in 2014 with Emmy wins for shows like House of Cards and Orange is the New Black began to rack up for the streaming service. Uzo Aduba and Claire Foy famously won Emmys for their performances in Netflix original series. 

Nothing like a whole bunch of awards to cement your status as the king of content. When you’ve made it this far, why stop? 

Too Much and Never Enough

If you were to scroll through Netflix’s massive library of content, you might find yourself a little overwhelmed. There is so much original and licensed content, with more being added and subtracted every month, that you can never run out of something to watch. 

But all of that content means very little can succeed from within. Peter Csathy, founder of media advisory firm Creativ Media, summed it up nicely:

Netflix is voraciously gobbling up movies and television shows across all genres, making it a seller’s market. 

“The main negative for creators and content owners in working with Netflix is that there is so much new original content that is featured by Netflix, it is increasingly difficult to break out and find an audience on Netflix.

“Without a deep marketing commitment on the part of Netflix, those movies and television shows face the cold reality that they become lost in the content shuffle.” 

If you were to have an original show idea, the smart thing to do used to be to take it to Netflix. Chances are, they were going to buy at least one season from you right off the bat. But if success isn’t guaranteed (and it never is in entertainment), you’re going to start exploring your options. 

HBO, still one of the best networks for a creative series or film to take off, knows this. Casey Bloys, HBO president of programming, uses this very specific metaphor to explain how they give shows the necessary attention they need: 

If you have 50 kids, you’re not going to every soccer game. We go to every soccer game, and we’re the snack parents at every soccer game.”

HBO CEO Richard Pleper follows up:

More is not better. Only better is better.” 

HBO continues to dominate its reputation as a source of seriously high-quality content. 

What Is Netflix’s Future?

Netflix will surely bounce back from this recent setback. Its stock will rise again, and subscribers may return. But their reputation as the future of media is no longer. The company went from thinking ahead to throwing all the money at anything. 

Throwing everying at the wall to see what sticks is a necessary strategy for any company looking to grow. But that strategy has a limit. Netflix appears to be throwing more and more and more at the wall and letting all of it stick. 

Who asked for video games on Netflix? That’s an odd medium for the company to step into. $30 million per episode of Stranger Things? Settle down, that’s way too much. 

Currently, Netflix has three price tiers: $10, $15.50, and $20. No competitor costs more than $15/month. They may raise their prices once again. But as Disney+, Paramount+, Peacock, Hulu, and HBOMax snag a sizeable share of the market, Netflix is looking like they’re playing catch up. 

Suddenly, Netflix’s future looks a little more like this: 

Chris Blondell is a Philadelphia-based writer and social media strategist with a current focus on tech industry news. He has written about startups and entrepreneurs based in Denver, Seattle, Chicago, New Haven, and more. He has also written content for a true-crime blog, Sword and Scale, and developed social media content for a local spice shop. An occasional comedian, Chris Blondell also spends his time writing humorous content and performing stand-up for local audiences.

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12 Best Manufacturing Software for Businesses in 2022

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Small or mid-sized companies in the manufacturing sector acknowledge that manufacturing software helps them keep up with orders and production jobs. This software allows business owners to come up with accurate bills of materials as well as inventory management. 

There is plenty of manufacturing software available in the market today. To help you find the right tool, we’ve compiled the best manufacturing software solutions rated well by real software users. We’ve listed twelve products that stood out among thousands of applications in manufacturing that deliver excellent value.

1. Odoo

odoo logo

Odoo is an open-source business management tool that offers various applications to streamline every company’s needs or processes. Its features include enterprise resource planning (ERP), customer relationship management (CRM), point of sale (POS) system, accounting, manufacturing, email marketing, and invoicing. 

2. Genius ERP

genius ERP logo

Genius ERP is a manufacturing ERP software made for custom manufacturers. It assists manufacturers in reducing costs, increasing productivity, and improving business performance. Genius ERP’s key features are accounting, scheduling, product engineering, production planning, and job costing.

3. JobBOSS

jobBOSS logo

JobBOSS is a job shop management software for manufacturers and job shop owners. The answer can assist with quote processing, order processing, shop floor control, inventory control, shipping, estimates, and data visualization.

4. Epicor Kinetic

epicor kinetic logo

Epicor Kinetic is an ERP solution that helps manufacturing plans and manages its resources. The software has all the features you need to scale, compete, and attract top talent to your organization. These include CRM, advanced planning and scheduling, supply chain management, product lifecycle management, and a quality management system.

5. NetSuite

netsuite logo

NetSuite is a business management solution that integrates various applications such as ERP, accounting, CRM, HCM, omnichannel commerce, reporting, and analytics. The solution offers real-time operational and financial performance insights while automating core processes.

6. DEAR Systems

dear systems logo

DEAR Systems is an ERP software specifically created for small and medium businesses. The comprehensive solution has modules dedicated to manufacturing, purchasing, sales, inventory management, accounting, POS, and warehouse management.

7. Fishbowl Inventory

fishbowl inventory logo

Fishbowl is a popular manufacturing and warehouse inventory management solution for small and medium enterprises. The software enables the user to generate work orders and track inventory. Likewise, it integrates with accounting software to scale your business.

8. Katana Manufacturing ERP

katana ERP logo

Katana Manufacturing ERP lets you gain clear visibility over inventory sales and order management. The solution also controls the total shop floor while tracking manufacturing costs based on product operations.

9. MRPEasy

MRPeasy logo

MRPeasy is a manufacturing software for small companies that integrates various modules in one solution, including procurement, supply chain management, and CRM. It also streamlines the purchasing process while managing every purchase order and organizing purchase cycles.

10. Prodsmart

prodsmart logo

California-based Prodsmart is a manufacturing execution solution for portable and mobile devices. The floor supervisors and machine operators can use the software directly from their workstations rather than stepping away from the floor.

11. Sage 100cloud

sage 100cloud logo

Sage 100cloud is an ERP solution for discrete manufacturers, wholesale distributors, and professional service processes. It streamlines the manufacturing business to provide greater visibility into every item’s status and optimized inventory.

12. Statii

Statii logo

Statii is an ERP and MRP software created for small manufacturing firms. The solution helps create work orders, scheduling, inventory, purchase orders, invoicing, contact management, and reporting.

Conclusion

Adopting technologically advanced manufacturing software can give your business all the functionalities the tool offers to ensure maximum productivity. These solutions allow you to efficiently handle shop floor management, scheduling, time tracking, and accounting. Finding a platform that’s easy to use can be a great way to start your software-buying process. 

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The 8 Best Enterprise Accounting Software

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For large companies that handle vast amounts of financial records, enterprise accounting software is a necessity. If you’re looking to get one, below are 8 of the best we found:

1. Oracle NetSuite ERP

oracle website

A leading name in the business software industry, Oracle NetSuite ERP (enterprise resource planning) is a powerful choice. It takes care of everything accounting, from tax to cash management concerns, and many more in between. This accounting software integrates seamlessly with NetSuite’s other features to provide enterprise-sized businesses with a full-service suite.

Oracle helps you manage inventories, track finances, host e-commerce shops, and maintain your CRM (customer relationship management) systems. 

2. Sage Intacct

sage website

Cloud-based platform Sage Intacct is another solid choice for enterprise accounting software. It provides the usual essential accounting tools such as general ledger, accounts receivable and payable, cash and tax management, among many others. Its users love the additional features Sage Intacct has to offer.

Its advanced accounting tools include dynamic allocations, project-based accounting, and AI-powered timesheets, to name a few. Its intelligent general ledger tool is AI-powered which is efficient and saves you time and money.

3. QuickBooks Enterprise

quickbooks website

A popular enterprise accounting software, QuickBooks Enterprise has industry-specific solutions any entrepreneur will appreciate. It has built-in automation tools that include payroll, collection of customer payments, task management, recurring invoices, and many more.

It has robust reporting tools and more than 200 customizable reports for better financial visibility. QuickBooks Enterprise has built-in budgeting and forecasting tools and advanced inventory and order management capabilities. 

4. Xero

xero website

Initially created for small businesses, Xero has the power and capabilities to handle enterprise accounting companies as well. It features tools to make accounting quick and easy, including cost capturing, invoicing, bank reconciliation, and payment processing. 

With its Xero Workpapers feature, enterprise owners use the platform to automate compliance processes. Users of Xero enjoy its robust analytics and reporting capabilities that give them valuable information about client cash flows.

5. Acumatica Cloud ERP

acumatica website

For enterprises with multiple entities, Acumatica Cloud ERP is a highly recommended accounting software. Its users love how it can centralize their enterprise’s financial data and processes across different locations. It is capable of handling project-based accounting, managing billing, and budgeting, aside from its basic accounting capabilities.

You can customize workflows for accounting automation and many financial management processes. In addition to its multi-entity accounting, Acumatica helps with currency, tax, and payroll management.

6. FinancialForce

financialforce website

If your enterprise deals with customers the world over, FinancialForce is the accounting software for you. Aside from the core tools for accounting, it also has global-grade solutions such as multi-currency and multi-language capabilities. It is built on the popular CRM platform Salesforce, so you’ll know you’re in good hands.

FinancialForce uses SalesForce’s Einstein, giving you insightful and intelligent financial data. It

also has built-in compliance reports and financial statement template features.

7. SAP

sap website

Providing enterprises with complete financial management, SAP is an industry leader in ERPs. Its SAP Billing and Revenue Innovation Management allows businesses to automate their billing and invoicing processes. Alongside its basic accounting tools, this software helps you with concerns about governance, risk, and compliance (GRC).

It has been proven excellent in simplifying financial closing through its automated workflows. It also provides support for subscription and usage-based billing and accounts receivable.

8. Microsoft Dynamics 365 Finance

microsoft website

Sporting a trusted name in the tech industry, Microsoft Dynamics 365 Finance is an excellent choice for an accounting software. It offers automated vendor invoice processing, financial reporting capabilities, built-in tax calculation tools for tax compliance, and many more.

It seamlessly integrates with other Microsoft platforms, including Dynamics 365 Sales and Dynamics 365 Commerce. It is a powerful tool that helps you monitor many financial operations.

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The Best POS Systems for Small Businesses

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There are many hurdles to running a small business. More often than not, you are working with meager resources and even more limited staffing. Because of this, you need an efficient set of tools to help you manage everyday operations. 

And one of the most critical suites to any retail business is a point of sale (POS) system. This tool allows business owners to cater to various payment options, whether online or in-person. Another great thing about POS systems is that they come with practical business features, depending on your industry. 

Here are the ten best POS system for small businesses today:

1. Clover

clover website

If you need a POS system for your small business right now, Clover can get it done for you. It has essential credit card processing tools and more. Users can link Clover with third-party apps for other functions like managing payroll. Clover Go, which works on Android and iOS tablets, is the best option for small business owners.

The suite’s virtual terminal allows owners to accept payments via a smart device. But the most appealing feature of Clover is its ease of use. Their terminals come pre-configured, so onboarding is mostly a smooth process. 

2. Square

square website

Square has good overall features, making it a top option for general retailers. Users can get barcode printing tools, sales reports, and stock management. Apart from that, though, it also has specific features and tools designed for individual contractors and restaurants.

Another plus is that Square accounts come with a built-in e-commerce store. Finally, POS users can expect speedy payments and buy now, pay later charges via Afterpay.  

3. Chase

chase website

On the other hand, Chase has various hardware and virtual solutions that accept payments from multiple platforms. Users can expect to get physical tablets and standalone terminals for brick-and-mortar shops. And users can even make contactless payments and wireless credit card payment processing with the Chase Smart Terminal.

Aside from that, Chase also has e-commerce integrations for online stores. Because of these features, Chase is ideal for e-commerce shops and general retailers. 

4. Shopify 

shopify website

Shopify is the best mobile POS system for small businesses because it makes it easier for owners to start and complete payments in the same place. It’s also the best POS system for retailers that are on multiple channels. It has easy to use interface that online businesses can easily use. 

Plus, it has advanced tools that help with inventory and customer relations. Finally, Shopify lets users integrate with Apple and Facebook for better customer support. 

5. Toast

toast website

Toast offers POS systems for small businesses free of charge. Apart from this, they also have a good starter POS promo that’s ideal for businesses just starting out. Otherwise, they have pay-as-you-go and standard plans that lock users in for two years. 

The system is great for restaurants because of its many valuable features. These include QR code payments, delivery tools, a table check splitting tool, and more. Toast also has a staff and inventory management tool. 

6. Lightspeed

lightspeed website

On the other hand, companies that need superb inventory tools can try Lightspeed. It has a matrix system to manage your stock and create smooth data visualization. Here, you can draw up matrixes of product variants to see which items need restocking.

Lightspeed works even when it’s offline. This POS system for small businesses is best if you are in the food and beverage industry, as well as physical retailers and restaurants. 

7. Revel Systems

revel systems website

The best POS system for retail shops and restaurant is Revel Systems. Whether a general store or a busy retailer, you can count on Revel Systems’ hardware tools to finish payments.

Revel has iPad-based terminals that track stocks, orders, and deliveries for groceries and restaurants. In fact, its restaurant features include tracking tips, building menus, and managing tables. Meanwhile, its grocery tools include discount, loyalty, and gift card tools.

8. ITRetail

itretail website

On the other hand, ITRetail is a POS system for small business that’s best for groceries and small markets. For one, it has strong and flexible checkout options. Customers can pay via debit, credit card, gift cards, or e-wallet. It also has a host of options should people need to self-checkout. 

Apart from that, you can manage your stock via their mobile app. Users can customize CRM tools to monitor and track loyalty and rewards programs.

9. KORONA

korona website

KORONA is a POS suite that is best for high-risk enterprises. This refers to liquor, vape, and even cannabis stores. However, KORONA can also support brick-and-mortar shops and ticketed venues. Most online reviews deem KORONA one of the most flexible POS because it links with major payment processors. 

Aside from that, it’s also a top choice because of its stock tracking tools. It even has a ticketing function, making it a great event option. 

Tips for picking a POS system

When you think about the qualities of a great POS system, it can seem like an unnecessary expense. However, a POS system can be a game-changer for a small business. Here are a few tips on picking a system to make sure that it will be a worthy investment.

Hardware and Software Compatibility 

The first thing to look for when picking a POS system is whether it will be compatible with your hardware and software. Check if your POS system supports your computer operating system (like Windows or Mac). You also want to check if it works with your network and your printer or scanners. You don’t want to invest in a product that can’t work with your current systems. Keep in mind that POS systems come in various levels of functionality, so you can find one compatible with your existing technology.

Ease of Use

Another important thing to consider when picking a POS system for your small business is its easy use. The less time you spend on training your staff, the better. You want to find a POS system with an intuitive interface, making it easy for everyone from your office manager to your cashier. 

Security

Another important thing to consider when picking a POS system is its security features. You want a system that is protected against fraud and theft.

Budget

Lastly, don’t forget about the budget when picking a POS system. You don’t have to overspend to get a great product. A good rule of thumb is to look for a system in the middle of the price range for your industry.

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