9 Ways Acumatica Helps Manufacturers Thrive in the New Digital Economy
A Brilliant Guide on the 9 Ways Acumatica Helps Manufacturers thrive in the digital economy.
Manufacturers face intensified global competition, increased product complexity, offshore logistics challenges, shorter product life cycles, and modern technology requirements.
To drive growth, manufacturers need to focus on what they do best: designing and manufacturing great products while providing exceptional customer service. The last thing they should ever have to worry about is their ERP software or connected business applications.
Acumatica is a full-suite, cloud-native ERP application. It provides manufacturers with adaptable tools and technologies to improve efficiency, decrease costs, generate leads, and increase revenue to grow and transform their businesses effectively in the new digital economy. In this guide, we discuss 9 Ways Acumatica Helps Manufacturers thrive in the digital economy.
9 Strategies for Manufacturing Growth
STRATEGY 1: Drive Growth Through Manufacturing Efficiency
Manufacturing is complex and riddled with inefficiency. Machines or tooling are often set up incorrectly, causing excess scrap. Production stalls when materials are not available for jobs and expensive capital equipment is underutilized. All of this leads to increased costs for rush orders, wasteful changeovers, and increased material and labour. This drives up prices, making it difficult to compete.
Acumatica Manufacturing Edition provides an integrated suite of applications designed to eliminate inefficiency through automation and actionable business insights.
STRATEGY 2: Streamline Processes with Connected Supply Chains
Collaboration is essential for today’s manufacturers. Customers now actively participate in product designs. Suppliers need forecast data for the parts they deliver to manage their businesses effectively. Manufacturers on legacy ERP systems rely on email, fax, phone, and other disconnected systems to collect essential information for decisions on product design, purchases, production, and orders.
Acumatica provides a collaboration platform connecting your business with customers, dealers, and partners to improve efficiency in all areas of your business.
STRATEGY 3: Generate More Leads and Close More Business
It is harder for manufacturers to improve sales because products are complex. Some manufacturers rely heavily on estimates, with only a small percentage converting to quotes or orders. Legacy systems and disconnected commerce applications disrupt processes delaying information required for effective marketing and sales. All manufacturers need a better way to develop qualified business opportunities.
Acumatica provides all the tools manufacturers need to sell more products and services.
STRATEGY 4: Provide Exceptional Service
Manufacturing has changed dramatically over the past decade. Manufacturers must do more than make great products. Customers choose suppliers based on the services they provide around those products. Consequently, today’s leading manufacturers offer installation, repair, maintenance, and other services to complement core product offerings.
With embedded CRM and field service applications, Acumatica provides the ideal platform for delivering world-class services.
– Mobile Field Service
– Contracts & Warranties
– Customer Support
– Preventative Maintenance
STRATEGY 5: Optimize Inventory for Maximum Profits
Inventory may be your largest asset, but it is also one of your highest costs. Hold too much inventory, and your carrying costs increase with the potential for spoilage or obsolescence. Hold too little inventory, and you will face delays in customer shipments, unnecessary costs for rush orders, and scheduling problems.
Optimize inventory levels, automate processes, and implement just-in-time strategies to save time and increase inventory turns with Acumatica inventory management and manufacturing suite.
– Inventory Replenishment
– Flexible Pricing and Valuation
– Lot and Serial Tracking
– Material Planning
– Warehouse Management
– Shop Floor Automation
STRATEGY 6: Manage Compliance & Risk Effectively
Compliance is a huge issue for your manufacturing business. Compliance mandates from customers, vendors, and agencies cost you time and money. Failure to manage compliance can severely restrict your ability to attract and retain customers.
Acumatica includes dozens of features to help you manage requirements to remain in compliance. Database level security, audit files, security roles, wikis, and document management support your quality and compliance initiatives. Additional features are available from integrated marketplace applications to improve quality management throughout the production process.
– GAAP, PCI, and financial requirements
– HIPAA, SOC 3, GDPR, and other security requirements
– FAA, FDA, EPA, and industry regulations
– ISO and other quality compliance mandates
STRATEGY 7: Minimize Technology Costs
Traditional ERP vendors punish manufacturers with restrictive and costly user licensing. Many ERP vendors lock manufacturers into expensive long-term contracts and hold their data hostage if they choose to leave.
Acumatica offers unique, consumption-based licensing with no hidden fees. You have free access to your data even if you leave.
– Unlimited User Licenses
– Free Online Training
– No Hardware or Software Installation
– No-Code / Low-Code Customization
STRATEGY 8: Gain Actionable Insights
ERP systems are notorious for capturing data. There is a lot of it. It is difficult, and sometimes impossible, to make sense of it all. Acumatica provides direct integration with advanced business intelligence applications, including Microsoft Power BI.
The Acumatica platform harnesses artificial intelligence and machine learning to provide actionable insights. Take advantage of configurable dashboards as well as hundreds of reports and inquiries.
– Business Intelligence
– Artificial Intelligence
– Machine Learning
– Configurable Dashboards
– Financial and Operational Reporting
STRATEGY 9: Extend and Enhance Your Technology Investment
Manufacturers depend on innovative technology such as 3D printing, RFID, virtual and augmented reality, and the Industrial Internet of Things (IIoT). Prepare for the factory of the future with a modern ERP system designed for rapid integration with low-code or no-code modifications.
Acumatica is a modern-day, cloud-native ERP application ready for artificial intelligence and machine learning. It is mature and rich in functionality without the complexity associated with traditional ERP systems. It is easy to use and scalable across industries and company sizes. For specialized business needs, trust the Acumatica partner community to discover even more ways to grow your business.
– Open Architecture
– No-Code / Low-Code Customization
– Channel Partner Configuration
– Acumatica Marketplace Extensions
Grow and Thrive with Acumatica Cloud ERP
Manufacturing is challenging. You face increased competition, shorter product lifecycles, increasingly complex technologies, and ever-changing compliance mandates. So how can you thrive in the new digital economy with so many moving parts? The answer is simple: arm yourself with a full suite of adaptable and scalable business applications built on a future-proof cloud platform with an open architecture for rapid integrations and cross-functional workflows to automate business processes. Choose a customer-friendly technology provider with specialized industry solutions for manufacturers to do the heavy lifting so you can work on your business—not on the systems that support your business objectives.
Acumatica Cloud ERP provides the best business management solution for digitally resilient companies.
Hope you enjoyed this guide on the 9 Ways Acumatica Helps Manufacturers thrive in the digital economy.