CHICAGO, May 10, 2016 /PRNewswire/ -- Manufacturers' enterprise resource planning (ERP) systems are designed to consolidate business operations into a single technology platform, but these systems inherently contain vast amounts of transactional and operational data. To help organizations turn this data into analytics that can be used to drive operational growth and enhance bottom-line performance, Crowe Horwath LLP, one of the largest public accounting, consulting and technology firms in the U.S., has introduced the Crowe Analysis Platform working capital solution.
The transaction-driven aspects of working capital are payables, receivables, and both raw materials and finished goods inventory. The Crowe Analysis Platform working capital solution organizes existing ERP transactional data in ways that allow management to analyze the components with greater precision. While some ad-hoc business intelligence solutions focus only on inventories, the Crowe Analysis Platform additionally applies the same rigor and analyses to accounts payable and accounts receivable, which gives manufacturers more meaningful analytics and provides a more complete picture.
"More and more data is being generated, but manufacturers have historically lacked a method to analyze it accurately," said Bart Kelly, a principal in Crowe advisory services. "Our solution automates working capital analyses to pinpoint potential gaps and opportunities. It quantifies the data so that management can make smart decisions to help them lower cost, enhance performance and improve margins."
For example, Crowe recently implemented the solution for a manufacturer with $350 million in revenue, 10 production sites and more than 20 distribution locations. The manufacturer had struggled with aging inventory, increasing competition and a lack of stock on hand. Using the working capital tools of the Crowe Analysis Platform, the company was able to identify inaccurate ERP data, change and re-categorize stock keeping unit (SKU) classifications and identify numerous other improvement opportunities. As a result, the company reduced inventory levels by more than 25 percent over a period of six months, while maintaining or improving customer service levels. Its inventory turns increased by 34 percent and on-time deliveries increased as well.
The Crowe Analysis Platform working capital solution is web-based, accessible through a password-secured portal and can be adapted to each company's specifications. It also features an intuitive, step-by-step wizard that guides users through the set-up process. Additionally, the tool can:
- Consolidate data from disparate systems and silos within the business, reducing the need for manual data entry or transmission;
- Support more than 40 specific working capital analyses and reports;
- Adjust parameters and intervals to yield more meaningful outputs;
- Provide each user with the ability to select specific types of analysis to perform; and
- Produce a summarized dashboard of key findings and working capital metrics with recommendations for improvement.
"Many manufacturers have made huge investments in technology. We used our deep manufacturing expertise to develop the Crowe Analysis Platform working capital solution so that companies can reap the rewards of their investment by using their data to make better, more informed decisions," Kelly added.
For more information, please visit www.crowehorwath.com/workingcapital-nr.
About Crowe Horwath
Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting, consulting, and technology firms in the United States. Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk, and performance services. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 120 countries around the world.
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SOURCE Crowe Horwath LLP