Quote-to-Cash in Acumatica Manufacturing Edition
Posted on: March 10, 2022 | By: Jim Bertler | 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:
- Item Definition: Item Maintenance, Product Configurator, Requisition Management, Matrix Items, Non-Inventoried Items
- Lead Generation: Embedded CRM with Lead and Opportunity Management and Configurable Sales Workflows
- Pre-Quote Activities: MTO; Manufacturing Estimates, MTS; BOM and Routing Definition, Project-Centric; Project Accounting, CTO: Product Configurator, ETO; CAD/PLM BOM, Requisitions
- Quotation Management: Sales Quotes, Service Quotes, Project Quotes, Support Contract Quotes, Electronic Signatures with DocuSign
- 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:
- Production Orders: Demand Forecasts, Production Order Maintenance, Material and Labor Transactions, Backflushing
- Production Scheduling: Finite Schedules, Labor and Material Constraints, Capable to Promise, Machine and Tooling, Shop Calendars
- Material Planning: Rough-Cut Capacity Planning, MRP Display, Inventory Replenishment, Blanket POs, Lot/Serial Tracking
- Production Management: Job Costs, Work-in-Process (WIP), Manufacturing Data Collection with Barcoding, Production Dashboards
- 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:
- 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
- Cash Collection: Credit Controls, Collections Activities with Dunning Letters, Credit Card and EFT Payments, Bank Feeds
- 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
- 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.