The Problem:
Lack of a modern manufacturing ERP solution forces the management to spend their time searching, locating and extracting enormous amounts of data from various sources and platforms in order to utilize as inputs to formulate strategy, managing risk as well as for compliance.
The gathering of this information can be a real challenge and analyzing it and organizing becomes next to impossible. When you need to prepare financial statements for the bank and present the business done to higher management, you have the most daunting task at hand. You first send an email to your staff accountant to get their final numbers then one to the production manager to get labor hours and scrap material counts, and then again to the warehouse or inventory control manager to get the final inventory counts. As all this information has to be put in an Excel spreadsheet simultaneously, you have to hope that all the different departments comply with your timeline. You end up being at the mercy of all the requests being fulfilled.
There are further additions to this already cumbersome task as it is also necessary to log into the bank or another software program that keeps your amortization and depreciation schedules, thereby complicating the matter further. This is called silos of data and there is no way past it.
Due to the fact that all of this organization is done via spreadsheets and email, there is no scope to validate the numbers against the actual data. If any anomaly emerges, e-mails have to be sent, paper files are to be referenced, and it likely takes days to get it resolved.
Manufacturing ERP Software Can be the Solution
Manufacturing ERP software is designed to capture cross-departmental information timely and accurately. The keys to successful use of an ERP system can be listed:
- Accountability:
Users are accountable to record transactional data the moment it is generated. This means production is reported, goods are received, payables are recorded, cash is applied, shipments are invoiced, etc.
- Transparency:
This allows easy access to information in every segment of the business.
Once that has been achieved, there are five ways modern manufacturing ERP can help Management:
- Analysis:
- Metrics
- Data Validation:
- Compliance:
- Financial Reporting
How is Acumatica Useful?
Acumatica is a reliable cloud ERP system. It enables the access of information from anywhere, anytime, on any device. The ERP system provides solid, accurate data, if the data is entered properly. Access to information anytime and anywhere increases efficiency and productivity.
The flexibility and configurability of Acumatica makes it is possible to have real-time financial data as well.
Acumatica has an intuitive user interface that makes navigation fast and easy. It is user friendly and allows the extraction of data to a format such as Excel as a part of the core program.
In addition to the user interface, relevant dashboards that are optimized for any device that is web-enabled makes high-level information easily accessible. Since dashboards allow a quick view and has the ability to analyze the transactions that are producing the information, it essentially caters you with all that you need to know. There is no need to search for all the data or depend on others to provide the data you need on time.