In the Swiss industrial landscape, where innovation and precision are the cornerstones of success, efficient management of financial operations is crucial. Yet many companies continue to use disparate systems that isolate finance from other key departments such as production, procurement or logistics. The result? Inefficiencies that hamper performance.
It's time to change that. Integrating finance into your ERP (Enterprise Resource Planning) is not just a good idea - it's a strategic imperative for boosting the competitiveness of your manufacturing business.
Swiss industrial companies operate in a highly competitive environment. Every minute lost in managing finances or gathering information could mean costly delays in the production chain. Financial and operational data can be centralised at ERP with integrated finance. No need to navigate between several systems. Decisions are made faster and more informed.
ProConcept's experience with more than 17,000 Swiss users shows that companies that adopt an ERP integrated with finance experience a particularly significant reduction in their operational costs and an improvement in their productivity.
One of the major challenges facing industrial companies is the lack of real-time visibility of their financial situation. Without ERP-integrated finance, financial information is not centralised and can be disconnected from operational data. As a result, you find it hard to get a clear picture of the profitability of each project, each department, the cash flow or the financial forecasts.
On the contrary, integrating finance into an ERP system provides real-time financial information directly from the company's other departments. For example, integrating finance with ERP makes it much easier to calculate stock variations.
Swiss industrial companies are often faced with market fluctuations, such as changes in customer orders or variations in production costs. An ERP with an integrated finance module makes it easier to create accurate financial projections, based on data collected throughout the company. This makes it possible to anticipate cash flow and working capital requirements and to manage investments more effectively.
In an industrial company, coordination between the various departments is essential to ensure that operations run smoothly. When finance is separated from other business processes, it can create information silos that slow down workflows and increase the risk of errors, not to mention potential accounting errors that can have serious legal and tax implications!
One of the main benefits of an ERP with integrated finance is the automation of financial processes, such as invoicing, payment tracking and bank reconciliation. This not only saves time, but also reduces human error and redundancy. A system like ProConcept eliminates duplication and ensures that each financial transaction is directly linked to the corresponding industrial operation, whether it's a purchase, a customer order or a stock movement.
With integrated finance, it becomes easier to maximise synergies between finance and other departments. For example, production costs can be optimised in line with sales forecasts and free cash flow. In this way, the company can better manage its resources, reduce costs and improve margins.
In Switzerland, compliance with tax and accounting regulations is a major concern for companies. Furthermore, for Swiss companies operating internationally, it is essential to have a flexible system that can adapt to the legal requirements of several countries. An ERP like ProConcept responds to these needs by offering financial management that makes it easier to comply with legal changes and adapt to local and international regulations.
A Industrial ERP that includes a finance module, such as ProConcept, enables you to manage several charts of accounts. For example, a company operating in several countries may use alternative charts of accounts to meet reporting requirements under different international standards (IFRS, US GAAP, etc.). In addition, multi-currency management and currency revaluation are also integrated, guaranteeing accurate accounting, whatever the currency used.
Integrated finance in an industrial ERP such as ProConcept also facilitates the management of accounting closures and tax periods. This enables the company to manage its financial operations seamlessly, without having to juggle different systems or worry about compliance with ever-changing regulatory requirements.
Production is highly dependent on the availability of raw materials and customer orders. By integrating finance with ERP, production managers canaccess financial data in real time, check actual production costs and adjust supplies in line with margins.
For Swiss companies operating internationally, for example, Logistics represents a significant proportion of costs. Thanks to integrated finance, managers can monitor transport, customs and import/export expenditure in real time, optimising it and ultimately reducing costs.
For an industrial company, controlling the cost of raw materials is a major competitive advantage. By integrating finance with ERP, the purchasing department can view financial data in real time, analyse profit margins before each order, and make more informed decisions.
In a country where precision and efficiency are core values, having an ERP system with integrated finance is no longer a luxury, but a necessity. A system like ProConcept not onlyimproves the management of industrial operations, but also ensures real-time financial visibility, increased coordination between departments and rigorous regulatory compliance. For industries, adopting an ERP system with an integrated finance module is a key step towards becoming more competitive, optimising their resources and guaranteeing their long-term future in an increasingly demanding economic environment.
