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1 Wisetime Ltd is a Finnish software company that has longterm experience in developing industrial Enterprise Resource Planning (ERP) systems. Our comprehensive system is used by thousands of users in 14 countries.

2 Contents COMPANY... 3 SYSTEM... 4 PARTNERS... 5 PRODUCT DATA MANAGEMENT... 6 DOCUMENTS MANAGEMENT... 7 SALES... 8 PURCHASING... 9 PRODUCTION INVENTORY MANAGEMENT TRACING FINANCE SERVICES REFERENCES CONTACT Wisetime Ltd 2

3 Company Our Wise ERP system is based on understanding the processes of the manufacturing industry Founded in 1991, Wisetime Ltd is a Finnish software company that has long-term experience in developing industrial ERP systems. Our comprehensive system is used by thousands of users in 14 countries. We understand the critical factors connected with the various operations of the manufacturing industry, and the requirements that competitiveness places on their processes. To address these needs, Wise ERP system is closely and practically linked with the operation of all the aspects of industrial companies and the challenges that they have to face. With the system, companies can manage their businesses and processes comprehensively, in real time and in a fully transparent manner. The time required for routine tasks can be minimized and processes executed efficiently, enabling companies to secure their competitiveness on the market. They can react to new challenges fast and allocate their resources to the most beneficial process phases. In addition to having information technology expertise, our personnel are profoundly familiar with industrial business management and development tasks. All product development, sales, implementation, training and maintenance tasks are managed by Wisetime Ltd s own personnel without using third parties. The leading vision that Wisetime Ltd follows throughout its operations is to operate in a manner that makes it worthy of its customers' trust. Our key values are customer satisfaction, trust, business development and respect for personnel Wisetime Ltd 3

4 System An ERP system covering all business processes offers unique benefits Wise ERP system is an entity that covers all the business process management aspects that industrial companies need. There is a real-time connection between all areas of the system, so the user promptly receives all the information needed for decision-making. Once entered data is utilized in all parts of the system, which leads to significant time savings and reduces the possibility of inconsistent data. Significant benefits that operation management system offers to profitable business can only be achieved if data is transparently and real-time available between different parts of the business processes. When a complete system is delivered by one supplier, it can be implemented quickly and cost-effectively, and there is no need to integrate different systems. The responsible contact interface, too, is clearly defined. With Wise ERP system, the company can manage and parameterize its processes based on business needs, without the software imposing any artificial limitations relating to information technology. All the functions support real life situations: highly complex order-delivery processes, for example, can be managed with the system in a highly automated manner. The system can also be used without limitations in business that involves several companies and factories. The system has an easy-to-use, logical user interface. Any data contained in the system can be retrieved and arranged fast and easily. Thanks to versatile graphic reporting tools, the data can be presented in exactly right, easy-to-understand formats and properly grouped for decision-making. Reports can also be defined and designed by users. An entirely unique feature in Wise ERP system is the real-time item balance forecast, providing instant data required in sales, manufacturing and purchase processes. Information on purchase and production demands, possible delays, rescheduling or cancellation needs is immediately available to different parties without having to perform a separate MRP run. Wise ERP system was developed on the basis of long-term cooperation with the manufacturing industry. Therefore, the system provides excellent process support in all aspects of operation management. The new features introduced by continuous system development can be made available to customers quickly and flexibly Wisetime Ltd 4

5 System Partners Managing partner data smoothly Partner management in Wise ERP differs from most of the other systems with the collective partner register where a partner can have many roles such as customer, supplier, manufacturer, for instance. Several contact persons, addresses as well as parameters for terms of delivery or payment, currencies, vat codes, can be defined for the partner. There is no need to duplicate partners when, for example selling to more than one address or with different currencies and vat codes. Significant time savings and better data quality are achieved. System includes all CRM functionalities required by a company. All partner contacts can be planned and recorded in the system. Comprehensive classification of partners and contact persons enables the creation of the user defined, versatile mailing lists. Real time connection from CRM to other functions in Wise ERP promotes the utilization of the system further compared to traditional CRM systems: there are direct links from partner and CRM console for reviewing partners order book, order history, deliveries, sales margin analysis and claim register. Supplier evaluation is available with one mouse click. All information is real time and reviewing does not require slow transition from one function to another Wisetime Ltd 5

6 System Product Data Management Intelligent data management covering the product lifecycle Wise ERP system covers all functions required during the product lifecycle starting from the proto phase up to after sales. The system does not impose any artificial limitations to products and items to be established. For instance, the very same item can be used for purchasing, manufacturing and sales. Customers, suppliers and manufacturers item codes and prices can be linked to company s own codes without creating duplicate items. A purchase, BOM and stock unit can be specified for the same item in a way that is logical for the processes. Item grouping brings along major time savings and reduce the possibility of mistakes. All general information can be inherited automatically from control data defined to the item group. Only item specific data must be entered to new item. With the technical parameters searching is effective from the vast item space and the descriptions of different item can be standardized easily. The user can specify item coding, and extensive right and authorization practices are in place in order to supervise the establishing of items. Thanks to grouping, profitability, too, can be analyzed fluently at the level of item groups. For demanding product management, the system contains a large number of sophisticated features. Process routing, throughput times, work load and material data are managed on the basis of product structure. Number of BOM levels is unlimited in the system. Other available features include product lifecycle management, automatic processing of replacing and continuing materials. Product configuration tools combine sales, planning, manufacturing and purchases Wisetime Ltd 6

7 System Documents Management A separate document management system is not needed Wise ERP contains an integrated document management system, which differentiates it from its competitors. Since document management is not a separate application each document can be linked to functions, such as items, customers or work phases, and there is a real-time link to document management from the other parts of the system. Document management is a good example of the extremely sophisticated integration of the Wise system. Data and functions can be examined very fluently, as there is no need to switch from one application to another. Wise ERP system contains all the functionalities required of a document management system, including version management, classifications, management of reading and modification rights, circulation, comment requests, authorization and distribution. System can be used to manage company s all documents, such as product documentation, quality documents and contracts. Documents can be classified freely according to the applicable criteria. Documents can also be directly connected to processes. The reading of specific documents, for instance, can be defined as part of the manufacturing process, which reduces mistakes and ensures that the latest document version is always in use Wisetime Ltd 7

8 System Sales Complete sales process management from offer to invoicing Wise ERP system covers all parts of the sales process from offer to invoicing. Offers are calculated on the basis of the BOM, routing and other item data. The product cost can be calculated using different pricing models, and profit targets can be set by cost type. In addition to product structure, pricing can be based on batch sizes, annual volumes and other corresponding factors. Advanced quotation tools facilitate and speed up the sellers work considerably and reduce the possibility of mistakes. The offers entered in the system can be directly converted to orders. Orders can be handled either based on forecasts or as fixed orders. Forecasts can be converted to orders or removed automatically according to control parameters and contractual practices. For frequent orders, the system is capable of processing continuing sales orders, which takes away much of the routine work caused by the processing of orders. The effects of sales on manufacturing and material management can be easily monitored in the system. Further actions can be automated in the preferred manner with the help of versatile parameters. The system also contains tools for processing sales consignment stocks. Wise ERP system supports product, service and project sales. Responsibilities and tasks, cost budgets and forecasts, progress milestones, payment installments and net sales recognition method can be set in project sales. The project s financial position and cash flow can easily be monitored all the time. Real-time information of offer back log and order book is constantly available. Sales reporting can be analyzed comprehensive with regard to profitability and the order book. The sales forecast and order book are automatically included in the cash flow forecast Wisetime Ltd 8

9 System Purchasing Key to cost-effective material management With Wise ERP system, industrial companies can automate their purchasing processes in an exceptionally comprehensive manner as well as optimize purchasing costs and the capital invested in inventory. The system can be used to manage all purchases from production items to office accessories. With RFQ processing the comparison of large number of items and potential suppliers can be executed quickly and with minimum work. RFQs can be sent electronically to supplier candidates for filling in the requested information. The returned files can be imported into the system directly keeping data authentic. Wise ERP provides tools to present the comparison data in visual form, which makes it easier to analyze the offers and speeds up decision making. The gained efficiency in handling large number of items or frequent RFQs is very remarkable. Purchase and production parameters are used to control the automatic creation of purchase forecasts and proposals. Demand for purchasing is generated from manufacturing plan, which is based on sales orders, sales forecasts and specified buffer stocks. The system calculates order quantities and buffer stocks dynamically, which optimizes purchases with regard to delivery times, optimum stock size and the purchasing costs. As a result, purchasing costs and the capital invested in inventory can be minimized, which is an absolute precondition for cost-effective operation and profitable business. In contractual purchasing, all daily routines can be fully automated by allowing the system to create orders and forecasts and send them to suppliers without the need for manual work. The system supports also managing a variety of purchase agreements, claim handling, monitoring the delivery reliability and electronic messaging. In addition company can offer to suppliers an internet portal for retrieving and confirming orders and forecasts Wisetime Ltd 9

10 System Production Comprehensive production management maximizes efficiency Wise ERP system contains production management tools for planning and monitoring all machine and personnel resources, maintaining factory calendars and collecting manufacturing quality and traceability data. The system includes versatile tools for comparing actual and planned data and analyzing production costs, profitability and capital employed. The Wise system also contains functions for the automatic management of subcontracting that has been integrated into the manufacturing process. Production orders can be formed automatically according to production control parameters on the basis of sales forecasts and the order book. Versatile parameters include minimum and maximum manufacturing lot sizes, lot multiples, combining periods and other time-related factors as well as scheduling model of routing and materials, for instance. In addition to manufacturing on-demand, production can also be stock-oriented. Graphic manufacturing management tools are available for analyzing and managing production loads based on several criteria. In addition to load, the company is constantly aware of the capacity and the materials available. The production load can be easily adjusted with the graphic tool. As all the aspects of operation management are included in the same overall system, it is easy to drill down from graphic to detailed information related to material availability and the sales order stock. With the tools, it is possible to make the manufacturing process as timely as possible. Moreover, any changes made to the production plan will be automatically submitted to purchase and sales. This means that the company can communicate the changes with suppliers and customers as swiftly as possible Wisetime Ltd 10

11 System Inventory Management Superior inventory management The inventory management functions of Wise ERP system supports all warehouse functions that industrial companies may have. The number of stocks is not limited and several stocks and stock locations can be defined for one item. Several stock types are available, such as the main stock, production stock, purchase or sales consignment stock, and subcontracting stock. Where necessary, the stocks can be allocated to customers, product groups or products. Wise ERP includes all inventory management functionalities: receiving, shipping, inspecting, stock taking and collecting item traceability data, for instance. Bar codes can be utilized extensively throughout the operation. Extremely comprehensive support is available for different processes. Dispatch, for example, includes serial number tracing, packaging and handling of dispatch documents. All documents can be sent and received electronically. Picking lists optimize collection order and time based on location of the goods in the stock. Wise ERP system includes real-time ghost collection calculation, which prevents unnecessary collection attempts or the reservation of materials for products for which all materials are not yet available. An automatic transfer request system is used to move goods between sites or internal stocks. This means that unnecessary purchases can be avoided and inventory turnaround times can be optimized. With the function, it is also possible to monitor goods in transit and to automate possible invoicing the transferred goods. The real-time value of stocks and work in progress is always available. Inventory value reports can be obtained retroactively from any date. The reports show the value of stocks, work in progress and unfinished projects, allocated in cost classes such as material, work, machine, overhead and subcontracting costs Wisetime Ltd 11

12 System Tracing Comprehensive traceability in ERP Traceability in Wise ERP system means information from which materials, in which work phases, with which machine, by whom and when the product was manufactured and to where it was delivered. Tracing data is collected at the serial number or the lot level, depending on requirements. Based on the data, it is possible to identify the products in which a specific material or semi-product has been used, or the material lot of which the product has been manufactured. Directives requiring the collection of tracing data have been drawn up for many sectors, such as the vehicle and food industry and the manufacturing of products used in health care. The collection of tracing data also offers major benefits to other sectors, when inspection or repair measures, for example, can be limited to the necessary number of products or deliveries. With reliable tracing data responsibility for any faults can be assigned to the right party. Tracing data is collected in warehouse and manufacturing. Data collection can also be automatically registered in production lines. Traceability supports other business needs, such as materials management and distribution and the monitoring of quality. If the collection of tracing data is not integrated into ERP, material and product data without exception have to be entered and retrieved from different sources, which considerably increases the amount of routine work and the need to interfaces between applications. Wise ERP system contains complete tools for collecting all traceability data reliably and efficiently Wisetime Ltd 12

13 System Finance Advanced financial management tools Wise ERP system contains sophisticated tools for AR and AP ledgers and GL including the management of changing VAT rates, periodic tax returns and EU reporting. Transactions can be segmented with 15 parallel accounting dimensions on the basis of which income statement and balance sheet information can easily be analyzed from different viewpoints in operative reporting, for example, according to market area, customer and product group. Customers can determine the purpose for some accounting dimensions according to their own preferences, which offers useful additional features for reporting. Posting to dimensions can be controlled on general or account specific level. Invoices in AR ledger can be generated automatically on the basis of shipping and order information. The system supports the processing of reference payment files and electronic invoice transmission in the form of Finvoice or EDI messages. AP ledger supports the scanning and electronic archiving of invoices and includes comprehensive purchase invoice circulation and approval tools. The invoice inspection connected with purchase orders can be automated. Invoices corresponding to the orders and receipts to stock can also be processed without the circulation routine. Invoices can be checked and approved by using Internet portal. The system also supports the transmission of SEPA payments and the electronic receiving of invoices. Direct links between GL and sub-ledgers enable the corrections to sub-ledgers with automatic update in GL. This ensures that sub-ledger and GL information are always consistent. Revenues and costs related to several months can be automatically allocated in the GL on a monthly basis by assigning the allocation data in the subledger during the invoice processing. Entries to the GL can also be made by importing vouchers directly from the file, for example payroll entries. Transactions from operations are automatically transferred from sales, purchases and production to the GL. The fully integrated Wise ERP keeps income statement and balance sheet information constantly up to date, which facilitates monthly reporting considerably. Reports related to the stock values and work in process, as well as sub-ledger balances and aging analyses can be printed retroactively for any date. In financial reporting, it is possible to define several report structures with different account grouping. The system contains a cash flow forecast, which can be used as a real-time cash management tool. The information in the forecast is automatically derived from subledgers, sales and purchase orders and forecasts. Other cash-impacting items can also be included in the cash flow forecast by entering them in the forecast as transactions Wisetime Ltd 13

14 Services The responsibility of Wise ERP is unambiguous As all the development, sales, implementation and support tasks of Wise ERP are taken care of by one company, an unambiguous responsibility interface is always seen to the customer. Wisetime Ltd is responsible for the system and the related database. Our personnel have comprehensive understanding of the system and have broad experience in industrial business management and development tasks, processes, and operation management. Implementation services Wisetime offers high-quality services that cover the entire implementation project. The functioning and cost-efficiency of the customer s processes are examined at the feasibility study. Wise ERP system does not require the presence of any specific processes. However, for many business functions the system offers the broadest range of process parameters on the market. Thanks to one supplier and one system package no integration work is required between the various functions of operation management. The actual implementation phase can be completed fast. Training services Training based on the customer s needs and requirements ensure that the company will get the most extensive benefit of the various features of the software. Training can also be arranged through the Internet as distance education, which cuts down training costs. Support services Our support services ensure the availability and usability of the system now and in the future. Customers can enter support and development requests to our efficient support portal also to named persons, where necessary. We monitor the portal constantly and promptly answer all support requests. The resolved support requests generate a solution database, which is constantly available to the customer. With the portal, the customer can also distribute information between different parts of the company Wisetime Ltd 14

15 References Wisetime has long-term experience in a variety of business sectors. Examples of fields using Wise ERP system: Electronics industry Wiring Harnesses manufacturing Machine and equipment manufacturing Mechanics manufacturing Printed Circuit Board manufacturing Environmental technology industry After years of development work, the Wise system now covers the core expertise needed for business processes in the above fields in a user-friendly format. The basic functions of the system are not specified to any particular sector. Any additional requirements possibly introduced by new sectors to maximize efficiency are always specified and implemented together with the customer. Our customers have production and operation units in Finland, many European countries, North and South America, and Asia Wisetime Ltd 15

16 Contact Wisetime Ltd Kauppurienkatu 13 FI Oulu, Finland Tel Fax VAT FI sales(at)wisetime.fi webmaster(at)wisetime.fi addresses are firstname.lastname(at)wisetime.fi Our office is located in Oulu City Center pedestrian Rotuaari. Contact our ERP professionals: Managing Director Jari Martti Sales and marketing Hannu Spets After sales Marko Niininen Wisetime Ltd 16

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