Every manufacturer wants to get paid faster but everyone has a different quote-to-cash process. Some manufacturers forecast demand, then build to stock and fulfill orders from inventory. Engineer-to-order manufacturers use CAD applications to design custom products based on customer designs or internally developed specifications. Configure-to-order manufacturers set up features and options to create new items based on customer preferences. Estimating is critical for job shops that rarely stock products they quote and sell to customers.
No matter which production style your business employs, you can benefit from automation. Do you have a modern manufacturing ERP solution that can automate your quote-to-cash process? With Acumatica’s Manufacturing Edition workflows, you get the flexibility of different quote-to-cash scenarios to manage sales, inventory, purchasing, manufacturing, shipments, and accounting.
“Because of Acumatica, we can now place orders faster and react to sales quicker. As a result, I think we’ll be able to reduce our total inventory by somewhere between $1.5 million and $2 million dollars.”
MATT STONER, CFO, DAKOTA RED CORPORATION
Learn more on how Acumatica supports simple and complex processes for manufacturers. The quote-to-cash process comprises three phases and 14 unique steps that most manufacturers use with some variation. Here is how a modern ERP solution can help with each.
Phase 1: Prepare and Sell
Item Definition => Lead Generation => Pre-Quote Activities => Quote Creation => Sales Order Creation
Most manufacturing sales start well before the quote is created. Set up stock items for products and non-inventoried items for services. Leverage embedded marketing automation to generate business leads. Manage the sales cycle with lead assignment and opportunity activities. Acumatica Manufacturing Edition provides applications to create newly manufactured items for a variety of manufacturing environments. Create quotes and send them to customers for electronic approval. Convert quotes to sales orders and manage order details for a clean hand-off to manufacturing.
Phase 2: Produce and Fulfill
Production Order Creation => Scheduling => Material Planning => Production => Fulfillment
Manufacturing begins way before sales gets involved in make-to-stock environments – production begins based on forecasted demand and items are stored until the order is placed. In most make-to-order scenarios, manufacturing starts after the sales order is created. Make-to-order manufacturers typically create the production order directly from the sales order, project, or service order. Production orders are scheduled against finite capacity constraints. Purchase orders and production orders for dependent raw materials and subassemblies are suggested through the time-phased material requirements planning (MRP) application. Material and labor transactions are entered throughout the production process or backflushed automatically for work in process costing. The finished goods inventory is updated and ready for order fulfillment.
Phase 3: Account and Analyze
Accounting => Cash => Reporting => Supporting Processes
Accounting engages in the quote-to-cash process at various points for invoicing, vendor payments, and related activities. Invoices are typically sent after the order has shipped. However, some companies send multiple invoices for large items like capital equipment that take longer to make. Vendor invoices are received, vouchered, and paid. Collection activities are managed for past due invoices with phone calls and email communication. Additional activities and reports complete the process with sales commissions and detailed analysis. There are many other supporting applications and processes crucial to perfecting the quote-to-cash process that should not be ignored.
What’s Your Quote-to-Cash Process?
Manufacturers perfect the quote-to-cash process and get paid faster with a comprehensive and modern ERP application like Acumatica. Manage every step effectively and with the flexibility to adapt the system to the way you do business.
Streamline item creation for stock and non-inventoried items. Use manufacturing estimates, the rules-based product configurator, Acumatica for Arena Native Connector, and Engineering Change Control applications to manage finished goods. Acumatica’s embedded CRM includes marketing automation for lead generation with configurable sales processes and automation to manage complex product sales cycles.
Harmonize production plans with resource constraints and material planning processes to ensure maximum throughput. Backflush material and labor processes for accurate and faster transactions. Streamline operations with supporting accounting activities, sales commissions, engineering changes, subcontracted, outside processing, and more.
With Acumatica, you have a complete and connected business application with powerful tools to analyze data in real-time. Manage your business by exception with role-based dashboards, real-time reports and inquiries, and connected business analytics. Download this free playbook from Acumatica on Perfecting your Manufacturing Quote-to-Cash Process and give the Galeforce team a call to learn more about taking your manufacturing business to the next level with a modern, ERP solution.
Your legacy software has gotten you this far. But if your company is ready for a new level of profitable growth, it’s time to transition to a modern construction cloud software solution that can support you all the way. Acumatica Construction Edition is full-featured construction accounting software that helps you connect your field and office teams, improve margins and streamline your most time-intensive processes.
“We had been using a legacy construction accounting software package when we found Acumatica Construction Edition, and it is a perfect fit.”
Ron Fairchild, Chief Financial Officer, Texas Scenic Co.
Here are 10 ways in which Acumatica Construction Edition—a cloud-based solution— delivers greater value than the typical legacy system.
- Intuitive: It’s easy to learn and use. Connect everyone across your organization with the same information, which encourages collaboration and improves accuracy.
- Universal Accessibility: Acumatica let’s you access the system from any device, anytime, anywhere. Supports employees who are working in the field or at a customer site.
- Customer and Service Management: Displays real-time data on all customer activities, including customer contacts, quotes, orders, invoices, payments, support cases, and service calls.
- Role-Based Dashboard: Delivers real-time visibility into the state of your business by construction role to the right stakeholders at the right time. A self-service dashboard, with drill-down into details, provides comprehensive insights into business performance.
- Adaptable Workflows: Automates, controls, and streamlines accounting and back-office construction processes to reduce the burden for accounting, operations, and front-office staff throughout your organization.
- Unlimited Users: Let’s employees access the information they need without requiring additional user licenses.
- Extensive Integrations: Integrates with leading applications such as Procore, ProEst, and DocuSign.
- Low Total Cost of Ownership (TCO): Reduces the total cost of ownership over the foreseeable lifetime of the product (at least 3-5 years), including licensing.
- Software Enhancements: Enhances the current software based on customer needs, and develops and adopts new technologies to further streamline customer operations.
- Free Training: Experience free online training and built-in User Guide for self-paced learning.
Acumatica puts everything at your fingertips, saving you time and effort at every turn. Whether you are a general contractor, subcontractor, specialty contractor, homebuilder, or land developer – you can rely on Acumatica’s true cloud construction software to handle accounting, project management, payroll, inventory, service management, CRM and mobile – in one cohesive solution.
Accounting: Complete Control, Maximize Profitability
Maximize project profitability, lower risk and easily manage financials. Acumatica Construction Edition allows you to accurately forecast and manage job costs, profits, cash and taxes.
Project Management: Focus on the Project, Not the Paperwork
Stay on top of every project and budget with real-time information at your fingertips. With Acumatica Construction Edition you’ll make decisions more effectively and easily manage and track all daily activities, issues, changes, project documents, and job costs from one central area.
Payroll: Easy-To-Use and Reliable
Simplify payroll setup, processing, and reporting by managing your payroll in-house. Easily capture time and track labor rates for certified and union payroll projects and more. Give employees access to enter time from anywhere eliminating late timecards, costly mistakes, and duplicate data entry.
Inventory: Inventory Management Made Simple
Control system-wide inventory to manage your distribution process efficiently and without losing track of costs. Easily manage inventory delivered to your project with the flexibility of using project sites as distribution hubs.
Service Management: Increase Field Service Productivity
Streamline processes, reduce response times and costs for your field service team resulting in increased customer satisfaction and revenue. Acumatica’s Service Management provides a complete set of functionalities for your field service operations.
CRM: Communicate with Customers, Grow Your Business
Customer Relationship Management was built into Acumatica from the very beginning. From marketing, quoting, and sales to delivery and post-sales support, customer information is always up-to-date and accurate.
Mobile: Connect Your People and Projects
Your employees will thank you for having access from a smart phone or tablet to complete their tasks. Productivity will increase making your construction projects run even more smoothly.
True Cloud Construction and Accounting Software
With today’s complex construction business needs, it’s essential to have a modern software solution that you can always rely on. True cloud construction software saves you time and money while maximizing profits. With a modern cloud system, you don’t have to pay upfront for hardware and maintenance and you can easily add computing resources on demand. Additionally, you get state-of-the-art security for your data with cloud software. Full-time, highly experienced security professionals are guarding your business data. Data is backed up regularly, on a series of distributed servers, so that it will still be available in case of a disaster.
Ready to Team Up with Galeforce Consulting Partners?
Ready to learn how Galeforce Partners can help take your construction company to the next level? We have partnered with construction firms of all sizes and can provide the critical solutions to drive growth and future-proof your operations. Contact us today, and learn how we can partner with you.