Custom: LMS | Warehousing Software | eCommerce | Mobile App

Challenges with current system

Time Consuming
Prone to Errors
Manual Dependency
No reusability
Impossible to see trends
Zero Analytics
Dynamic Or Runtime Reports are not possible
Management can’t drive output (Margins, Bottom line, Analysis etc) by themselves

Accuracy leading to better pricing decisions and strategic pricing advantages
Quick product cost rollout
Improved ability to support organization's strategic objectives through reduced transaction effort
Vastly improved spend management resulting in lower costs
Better, more objective and fact-based negotiations
Enabling powerful and logical data to manage supplier and customer pricing
Control of organization information and knowledge through reducing dependence on individuals
Better risk mitigation
No need to change anything in the existing technical infrastructure
Costing system can be integrated and support all existing ERP(Microsoft, SAP, Oracle etc)
Very user-friendly to use and people can adapt and work fast using EFC inbuilt intelligence of relevant data selection. (Drop down feature where data automatically comes based on the previous selection)
True visibility of effect of price changes - due to change in raw material price, specification, yield or usage and weight, change in cycle time and machine hour rate, addition or deletion of process, TPM initiatives, interest rate, tax and other levies, payment and freight terms
Profit reconciliation bet finance ledger and costing

Cost Savings: Fixing and measuring of target cost, helps in identifying cost reduction areas and Simulation and comparative analysis highlighting the potential
Security: Data access through authentication & authorization mechanism. Costing solution has approval hierarchy to manage & track changes
Process efficiencies: Increased through put by workflows & approvals, reduce costing & pricing transaction effort, enabling powerful & logical data to manage customer pricing
Analysis (What if analysis): Change in raw material prices, source, location, conversion cost, cycle time, process flow etc
Reports: True visibility of price change effect - due to change in raw material price, specification, yield & weight, change in cycle time & machine hour rate & edit other cost drivers
Predictive costing: Predictive costing extends those findings using statistical modeling, forecasting and optimization algorithms to anticipate the impact of cost change
Costing: Fixing and measuring of target cost Helps in identifying cost reduction areas. Simulation and comparative analysis highlighting the potential
Enterprise-Wide: Costing solution gives management the visibility & control of cost operations that is needed to effectively compete in today’s challenging environment

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