Manufacturing Industry KPIs that Matter

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1 Manufacturing Companies Run Better on NetSuite. Manufacturing Industry KPIs that Matter Sponsored by

2 Results from Businesses Like Yours Business Visibility 360 o Visibility & Actionable Insight Increased 70% - 90% Revenue Recognition Management 45% - 65% Time required for Compliance Support Decreased 25% - 45% Audit Completion Time Reduced 30% - 40% Financial Management Reporting Time and Resources Reduction 70% - 90% Time to Close Financial Books Reduced 75% - 90% Accounting Staff Productivity Increased 30% - 50% General Ledger Consolidation Time Reduction 75% - 95% C. All rights reserved. C. All rights reserved. 1

3 Results from Businesses Like Yours Staff Utilization 10% - 25% Inventory Carrying Costs as % of Revenues Reduced 2% - 5% Manufacturing Visibility and Performance Obsolete Inventory Carrying Costs Reduced 60% - 80% Payroll Processing Costs Reduced 50% - 75% Production Efficiency 50% - 80% C. All rights reserved. C. All rights reserved. 2

4 Results from Businesses Like Yours Sales and Marketing Sales Pipeline and Productivity 40% - 60% Order Processing Efficiency 45% - 75% IT Support Resource Costs Reduced 50% - 70% IT Management Cost to Purchase and Maintain Servers Reduced 100% Business Continuity/Disaster Recovery Costs Reduced 35% - 55% C. All rights reserved. C. All rights reserved. 3

5 Cloud-Based Business Solutions Suite Delivers Key Performance Improvements Real-time business visibility and end-to-end business management Many firms including those in the manufacturing sector have achieved more efficient and agile business operations by using cloud-based ERP. Executive Summary In the popular mind, manufacturing companies are old-school businesses, the polar opposites of high-tech software and services firms. In reality, manufacturing operations are among the most sophisticated users of advanced IT solutions. Factory floors are highly automated and precisely monitored, and they are fed by supply chains and inventories that must be coordinated and optimized. Once produced, manufactured goods must be shipped and tracked through often-complex distribution and retail networks, and a product s quality must be measured and ensured from its creation on the factory floor to its performance at the end customer. Given the breadth and diversity of their operations, manufacturers must be able to identify and measure key performance indicators (KPIs) for everything from their financial operations to their factory-floor and shipping efficiencies. By doing so, they have a baseline on which to improve and track their critical business processes and to achieve higher levels of business effectiveness and success. C. All rights reserved. 4

6 Addressing Manufacturing Industry Challenges Aligning business operations to meet these challenges Operational Challenges Supply Chain Challenges Financial: In addition to standard financial metrics, such as time to close the books and overall profitability, manufacturers must track everything from cost of materials to the value streams of individual production units. Reporting: Workers ranging from the finance team to factory-floor supervisors and workers need accurate and, often, real-time reports spanning the full range of relevant operations. Sourcing: Manufacturers must track parts and materials availability, costs and quality from both primary and secondary suppliers. Factory: Manufacturers must measure equipment, as well as worker, productivity and efficiency, production bottlenecks, inventory turns, and many other variables. Inventory: Inventory levels must be managed and balanced based on orders and forecasts, a particularly difficult task for lean/just-in-time manufacturing operations. Orders and Shipping: Orders for goods must be closely managed and matched with inventories and production, goods must be efficiently packaged and shipped. Customers: Manufacturers must ensure their customers, be they distributors or end buyers, are satisfied with the finished products they receive. Average Deal Size Shipping Manager Ecommerce Manager CEO External Systems WAREHOUSE MANAGEMENT INVENTORY MANAGEMENT MANUFACTURING Vendors ERP CORE BUSINESS Reduction in DSOs Customers SRP CUSTOMER MANAEMENT ORDER MANAGEMENT GLOBAL FINANCIAL MANAGEMENT BILLING MANAGEMENT REVENUE MANAGEMENT SUPPLY CHAIN MANAGEMENT Unlimited Expansion Growth PROJECT ACCOUNTING PROJECT MANAGEMENT CFO RESOURCE MANAGEMENT TIME & EXPENSE Partners Intelligent Order Orchestration Sales Rep/ Manager Support Manager Revenue C. All rights reserved. C. All rights reserved. 5

7 Business Visibility Business value for company management Increased in 360 o visibility and knowledge of operations 70%- 90% Siloed applications and data provided an incomplete and point in time based view of business Analytics solutions not integrated Significantly improved real-time visibility into all aspects of business, allowing faster strategic decision making Real-time visibility into all aspects of business Easy to spot inconsistencies to find out root cause through drill-downs business agility Not possible to quickly assess all aspects of a business in response to opportunities and challenges due to siloed applications and data Agility from planning to execution Support better decisions, improve cost control, and increase the profitability of products, customers and channels budgeting, financial planning and forecasting Lack of support for budgeting, performance management and forecasting Excel-based, non-integrated system; manually intensive Streamline the bottom-up and top-down financial and operational planning process Ability to create multiple budgets Support for quarterly reviews and tracking of variance C. All rights reserved. C. All rights reserved. 6

8 Financial Management (1 of 3) Business value for revenue analysis and management revenue recognition 45% - 65% Excessive time required to allocate revenues correctly Lost revenues due to missed billings Error prone Excel spreadsheet-based operations Significant increase in accuracy of revenue recognition Identify missed opportunities Convert active contracts into revenue Increased recurring revenue Efficiency issues due to lack of automation Difficulties in getting reports in a timely manner Enable audits and review of variances and risks of customer revenues Identify and remedy gaps Better management of customer contracts Faster quote-to-cash processes Customer quote systems not integrated with accounting system Difficulties in spotting missed contract renewals due to fragmented data Integrated customer facing and back-end accounting systems make the process fast and accurate More efficient processes save time and costs C. All rights reserved. C. All rights reserved. 7

9 Financial Management (2 of 3) Business value for financial reporting Decreased in time required for compliance support 25% - 45% Relevant information not readily available or needs to be pulled from multiple sources Data analysis difficult or impossible Real-time availability of required financial and operational reports Availability of accurate, detailed and actionable information to support compliance needs Reduced in audit time 30% - 40% No central repository for the information required to support audits Since all the information required for audit is available in NetSuite, companies see significant reduction in audit time required Reduction in reporting time and resources by 70% - 90% Difficulties in getting reports in a timely manner, often days after they are needed IT required to develop custom reports Report access and delivery when needed Real-time drill down to the lowest level of detail Users able to build their own custom reports C. All rights reserved. C. All rights reserved. 8

10 Financial Management (3 of 3) Business value for accounting department Reduced time to close the financial books 75% - 90% Increased in accounting staff productivity 30% - 50% Reduction in time for general ledger consolidation 75% - 95% Extensive time spent on reconciliations, especially when multi-division, multi-region and multi-currency Accounting teams overwhelmed Almost no time for analysis Inefficiencies as a result of manual processes Use of spreadsheet based accounting Difficulties in consolidation of data from multiple entries Difficulty in consolidation of accounts in different geographic regions with multiple currencies and tax structures Earlier availability of financial results through faster period-end processes and more accurate reconciliations Ability to do monthly reconciliations instead of yearly More time to spend on analysis Increased efficiency through integrated reconciliations and reporting Reducing need for large accounting staff Better utilization of accounting to support up to 4 times more A/R and A/P transactions Real-time consolidation of data from multiple entries, regions and currencies Support for real-time consolidation of financial information in multiple currencies Helps reduce time to close books on a monthly and yearly basis C. All rights reserved. C. All rights reserved. 9

11 Manufacturing Visibility and Performance (1 of 2) Business value for manufacturing operations support staffing utilization due to automation 10% - 25% Inefficiencies as a result of manual processes and resource utilization Manual or spreadsheet-based inventory and assembly tracking Better tracking of resource and capacity utilization due to real-time tracking of production Resource scheduling synchronized with assembly and delivery timeframe Reduced inventory carrying costs as percentage of revenue 2% - 5% Reduced inventory efficiency and obsolete inventory carrying costs 60% - 80% Lack of visibility into inventory of parts Order for an assembly immediately launches the work order irrespective of order delivery time due to separate systems Lack of visibility into inventory of parts No visibility into obsolete part inventory Integrated NetSuite solution with inventory data and customer data make this much easier to track Order for an assembly synchronized with inventory of parts and delivery timeframe Complete visibility into all inventory parts required for assembly of work-orders to reduce stock-outs and production delays Easy availability of data to review obsolete inventory to eliminate carrying costs C. All rights reserved. C. All rights reserved. 10

12 Manufacturing Visibility and Performance (2 of 2) Business value for manufacturing operations support Reduced payroll processing costs 50% - 75% Inefficiencies as a result of separate applications and related errors Additional time and resources to process payroll information and export data to separate application Integrated NetSuite solution with payroll provides payroll processing efficiencies production efficiency and lead times 50% - 80% support for continuous process improvements Lack of real-time visibility into inventory of parts Information and analytics on demand variations not easily available in a timely manner Siloed applications and data provided an incomplete view of manufacturing production planning Integrated NetSuite solution with customer order tracking and inventory data reduce backorders during peak demand periods Complete visibility into all process enables involvement of the right people Integrated solution enables identification of problem areas and develop plan for corrective actions C. All rights reserved. C. All rights reserved. 11

13 Sales and Marketing Business value for integrated sales and marketing Increased capacity of customer cross-sell and upsell Sales-relevant information not readily available Real-time visibility into key customer metrics and purchase history sales pipeline and productivity 40% - 60% order process efficiency 45% - 75% Limited sales tracking and management support Lack of integrated online sales tools Lack of integrated solution and data lead to inefficiencies Lack of EDI support for document distribution and receiving orders Better management and categorization of leads by opportunity Support for multi-channel sales Increase in sales pipeline by tracking leads and opportunities by using CRM Monitor effectiveness of individual sales reps Integrated customer information, inventory and order processes reduce errors C. All rights reserved. C. All rights reserved. 12

14 IT Management and Resources Business value for company operations Reduction in number of IT support people, IT cost savings of 50% - 70% Eliminated the need and cost to purchase and maintain servers 100% Reduction in need for business continuity / disaster recovery solution 35% - 55% IT resources needed to implement and maintain ERP solutions IT resources needed to install and maintain IT hardware Capital expenditure required to acquire and maintain servers for on-premises ERP application IT resources and infrastructure needed to support business continuity/disaster recovery Implementation is complex and costly Cloud-based solutions minimize the need for internal IT staff to support ERP application Faster to implement and earlier productive use of ERP solutions Reduced need for security, QA resources and database manipulations No need for IT capital expenses as NetSuite is a cloud delivered solution Business continuity/disaster recovery are a significant benefit of the NetSuite SaaS solution NetSuite has redundant data centers to support this at no additional cost to customers C. All rights reserved. C. All rights reserved. 13

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