Support your mission critical operations, turn margins into cash and create a more sustainable operation with cash flow management in a cloud based environment.
US manufacturing has seen steady growth in the last four years thanks to low wage growth, sustained productivity gains, stable exchange rates, and a big energy-cost advantage, according to an article from the Boston Consulting Group. But with overseas manufacturing seeing major shifts and the recession of 2008 still fresh in the minds of many, getting the most bang out of every buck is still the mode of operation for manufacturing financial professionals everywhere. And well-executed cash flow management is life line that will help a business weather any storm.
Starting a new business or moving up to the next level of production is always a risk. However, 82-percent of business failures are caused by problems with cash flow management according to an article at Entrepreneur.com. By managing cash flow well, businesses can significantly reduce the risks of starting and growing business.
“Cash flow isn’t intuitive. Don’t try to do it in your head,” said Tim Berry the author of the article. “Making the sales doesn’t necessarily mean you have the money. Incurring the expense doesn’t necessarily mean you paid for it already. Inventory is usually bought and paid for and then stored until it becomes cost of sales.”
Make Cash Flow Management Simple
Cash flow management software for manufacturers is not a new invention, but for most manufacturing operations who are just starting their business, mission critical resources have to take priority over a bulky on-premises accounting and IT system. While most organizations are operating as lean as possible, enterprise resource planning (ERP) implementations just don’t fit in the budget.
But the high cost and time investment commonly associated with ERP can be avoided by choosing a cloud solution. With low up-front costs and predictable monthly pricing, the cloud opens the doors to sophisticated business management software, for even the smallest businesses.
With these software tools available, manufacturers can manage cash in the cloud with cash-flow calendars that enable both historical and forward-looking insights to accurately gauge how funds flow in to and out of the business. Bank reconciliation tools allow you to get a full view of credits and debits across accounts. Plus, with advanced reporting tools, manufacturing financial leaders can track funding, collections and streamline accounts receivables so payments come on time, more often.
With a Microsoft Dynamics GP package from myGPcloud, you get the tools you need to improve cash flow management and other critical processes. The friendly to use calendar gives you historical and predictive insights just by selecting the day, week or month. Simple, out-of-the-box reports automatically pull lists of investors and grants. Dynamics GP reporting tools also enable Accounts Receivable managers to track customers’ balances so it is simple to prioritize based on money owed to you and evaluate customer histories and quickly react to any accounts receivable problems. Streamlined bank reconciliation gives you confidence that you have an accurate measure of cash on hand. And with a direct connection to Microsoft Outlook, you can take care of issues right away by sending a simple email.
Decision Making with Intelligence
While it is easy for manufacturing professionals to overlook new business management and accounting solutions as a non-essential expense to be put off as long as possible, this is a mistake. Whether you are a start-up or a growing organization, myGPcloud’s on demand Dynamics GP for manufacturing is more than a solution. It is the engine that is going to drive your manufacturing operation and help you turn margins into cash flow. With simple to use business intelligence tools, business leaders will be able to make decisions based on data driven insights to improve processes from marketing and inventory and to supply chain and investor relationship management. This ultimately drives new business and shrinks costs.
- Optimize your resources and improve end-to-end processes to increase your profitability using predictive analysis.
- Increase staff productivity and drive accuracy by automating your purchasing processes using order-point minimums and maximums, as well as built-in workflows.
- Streamline supply chain processes and inventory management ‒ and reduce operational costs companywide ‒ with the ability to track turnover and maintain the right stock levels.