The manufacturing CFO’s role within a company has changed in recent years. Modern CFOs have moved from the back office where their role was seen mainly that of being a number-cruncher or a financial risk manager. Today, the CFO works with massive amounts of data within the company. SYSPRO is the right choice to assist manufacturing CFOs when facing the multiple challenges (and opportunities) of the modern business world.
Benefits of Choosing SYSPRO
SYSPRO offers multiple benefits to a manufacturing CFO. Consider these reasons for choosing a SYSPRO ERP:
- Vigorous Cost Analysis and Management
A manufacturer’s CFO plays a significant role in guiding and influencing it as it grows. They are in a unique position to turn to automation as a means of reducing costs. The CFO can also introduce new features, such as SYSPRO ERP’s Cycle Counts. This feature allows the inventory manager to set up the warehouse so that either specific areas or small subsets of items are counted regularly.
Staff continuously rotate their inventory work through the warehouse. Eventually all the inventory gets counted without the necessity of having to shut down the facility entirely. Cycle Counts upload into the company’s computer system in real-time so management always has current figures.
- Multi-Currency Management for Global Supply Chains
You are no doubt familiar with the supply chain disruption that has been affecting companies of all sizes in recent years. It’s no longer unusual for a business to be active across a global supply chain.
When working with suppliers in different countries (and in different currencies), your business can manage payments easily with SYSPRO 8’s Exchange Rate feature.
SYSPRO 8 allows the manufacturer to make payments to suppliers in currencies that are different from those held against suppliers. Group payments may be made to suppliers and customers with different base currencies in one group, in one transaction.
- Automation and Optimization for Increased Efficiency
The CFO must make the distinction between areas in the company where humans can step in to take charge of a situation and where automation is the more appropriate response. For example, SYSPRO 8 can run Balance functions independently for month or year-end. Until now, the Balance function and the Month/Year End routines were run concurrently.
Today, month-ends can be run individually, which optimizes the month-end and year-end processes. Down-time required to run Period End functions is shortened.
- Strengthen Controls and Support Compliance
Configuring security settings for operators who may be working in multiple locations is a complex task involving several programs. SYSPRO’s Security Settings Dashboard allows administrators to query operator security settings in a single program.
SYSPRO also uses multi-factor authentication to identify users with two or more methods from independent credential categories. Email and Google authentication are used to improve security during login. Email sends authentication a time-based, one-time password as part of the log-in verification.
- A Force for Digital Value
Modern tech advancements have moved the manufacturing CFO’s responsibilities away from record-keeping to being a strategic partner with a critical role in driving the business forward.
Moving forward, the CFO’s role will focus more on using analytics, big data, and predictive modeling to make informed business decisions. As everyday tasks become automated using SYSPRO ERP systems, the Finance Department will use automation for forecasting, planning, and other high-value activities.
For more information about SYSPRO manufacturing software, download SYSPRO’s free guide here. You can also download this white paper about the challenges impacting the global manufacturing supply chain.