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Streamline ERP reporting and cut labor costs with Synoptix
As the recession continued to grow, many companies were forced to reduce the number of employees they had. While this helped cut costs so that the companies could stay afloat, it also created a number of problems.
One of the single biggest issues is that while the payroll was reduced the amount of work needed wasn’t. At least not to the extent that was equal to the amount of workers that were laid off. This forced companies to evaluate what could be cut out of their processes without impacting the bottom line.
It also forced them to search for ways to streamline processes and become more efficient. By finding ways to cut the workload on employees, they were able to take on other projects and contribute in other areas.
Even though the economy has continue to show improvement, companies appear to have learned their lesson. Many companies have used the increased revenue coming in from the recovering economy to invest in ways to be more efficient and productive.
One of the ways companies have used to cut labor costs is through upgrading software systems. Software improvement is a key to streamlining and automating processes. It can automate taking orders, tracking inventory, and processing and shipping orders. In addition, better software can help with processes such as managing finances.
Synoptix is one company that has come up with effective ways of creating financial and operational reports. These reports feature the ease of use of a spreadsheet and gives companies more reporting functionality than ever before. Synoptix has developed a system that can be implemented with most any software system quickly and is much less expensive than most people think. By adding this system to their ERP, a company will be able to get dashboard functionality, real-time data, and end-to-end reporting.
Systems upgrades like the one developed by Synoptix have shown to reduce labor costs by as much as 90%. These incredible claims can be demonstrated by Power Engineering and Manufacturing. They are a company that manufactures heavy duty gearboxes used in the oil and gas industry. This is a perfect example of the type of company mentioned before that was looking to streamline processes.
They updated their system with Synoptix’s Advanced Reporting system hoping to increase visibility to their Key Performance indicators. Before implementing Synoptix’s system, they were using spreadsheets each time a custom report was needed. This proved to be extremely time consuming and challenging. Their new system has allowed them to drastically reduce the labor needed to create these reports and dramatically increase efficiency in many other areas. Perhaps more importantly it has given them the power to make better, more informed decisions.
John Warner, President of Power, recalls that “there were a lot of times that we just didn’t have reports created for the type of information we needed at the time, and because of the time it would take us to create one, we simply did without. But it’s hard to make fact-based decisions when you don’t have the right information at your disposal when you need it.”1 By having the most thorough and easily acceptable facts, companies are able to make the best decisions to help them continue to grow and be successful.