Quote-to-Cash in Acumatica Manufacturing Edition

Posted on: March 10, 2022 | By: Rosie Gill | Acumatica

Quote-to-Cash is an integral part of the manufacturing industry. This process is essentially a complete outline of the sales process from beginning to end. It encompasses product creation and pricing, quoting, customer acceptance, ordering, and overseeing revenue. 

Customers seeking out a specific product often ask for a quote before making any decisions. Companies need to be able to efficiently present comprehensive quotes that address that individual’s needs and desires. Moreover, having an effective quote-to-cash method ensures that your business is paid faster. The quote-to-cash process can become complicated very quickly, but Acumatica’s Manufacturing edition comes with a tool that outlines for users the three different phases through 14 steps.

Phase 1: Prepare and Sell

In the first phase, you will be configuring your product in order to set up the sales order. This comes to fruition through 5 steps:

  1. Item Definition: Item Maintenance, Product Configurator, Requisition Management, Matrix Items, Non-Inventoried Items
  2. Lead Generation: Embedded CRM with Lead and Opportunity Management and Configurable Sales Workflows
  3. Pre-Quote Activities: MTO; Manufacturing Estimates, MTS; BOM and Routing Definition, Project-Centric; Project Accounting, CTO: Product Configurator, ETO; CAD/PLM BOM, Requisitions
  4. Quotation Management: Sales Quotes, Service Quotes, Project Quotes, Support Contract Quotes, Electronic Signatures with DocuSign
  5. Sales Order Creation: Quote Conversion, File Imports, Commerce Storefront Orders, Point-of-Sale Transactions, Connected EDI Apps

Phase 2: Produce and Fulfill

In this phase, your company begins creating the production order for the customer in order to fulfill the order that was placed through 5 steps:

  1. Production Orders: Demand Forecasts, Production Order Maintenance, Material and Labor Transactions, Backflushing
  2. Production Scheduling: Finite Schedules, Labor and Material Constraints, Capable to Promise, Machine and Tooling, Shop Calendars
  3. Material Planning: Rough-Cut Capacity Planning, MRP Display, Inventory Replenishment, Blanket POs, Lot/Serial Tracking
  4. Production Management: Job Costs, Work-in-Process (WIP), Manufacturing Data Collection with Barcoding, Production Dashboards
  5. Order Fulfillment: Embedded WMS, Barcoding, Wave and Batch Picking, Packing, Shipping, Scale Integration, Transfers

Phase 3: Account and Analyze

Once the order has been fulfilled, your company now has to manage the accounting side of the transaction. This occurs in 4 easy steps:

  1. Accounting Activities: General Ledger, Accounts Receivable, Accounts Payable, Sales Tax, Expense Management, Intercompany Accounting, Multicurrency, Recurring and Deferred Revenue with ASC 606 and IFRS 15 Compliance
  2. Cash Collection: Credit Controls, Collections Activities with Dunning Letters, Credit Card and EFT Payments, Bank Feeds
  3. Supporting Processes: Mobile Apps, Time and Task Management, Payroll, Fixed Assets, AP Automation with Artificial Intelligence and Machine Learning, Engineering Change Control, Field Service, Return Merchandise Authorization (RMA), More
  4. Reporting and Analysis: Reporting, Generic Inquiries, Business Intelligence with Microsoft Power BI, Dashboards, Sales Commissions

Next Steps

Acumatica can take your manufacturing business to the next level with its comprehensive, cloud-based ERP. Contact an expert at Logan Consulting to learn more.

 



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