CIMdata PLM Industry Summary Online Archive
12 April 2007
Product News
MyWorkPLAN's Data Flow Improves Cashflow
Tailormade for SMBs in the general mechanical industry, Sescoi 's MyWorkPLAN job management software helps to compress the cycle time from purchasing goods or services and receiving payment for orders from customers, thus improving a company's liquidity.
The software is designed to implement without the extensive customisation associated with many management systems.
Starting with quotations, MyWorkPLAN enables engineering companies to utilise existing real production data such as machining times and material prices, and additionally analyse CAD data to quickly generate accurate offers. The software then keeps track of orders placed and controls stock levels of common parts, ensuring that sufficient, but not excessive quantities, are available and that working capital is not tied up in stock. Managers can then check, in real time, the value of bought in items, making sure that they match the budget for the project and at the same time keeping inventory costs to a minimum.
As production progresses, resources allocated to the project can be recorded. Again, these can be checked against the budget so that corrective action can be taken to minimise cost overruns. By continually monitoring performance against plan, companies can maximise the profitability of each job, which will in turn optimise the cash generated.
The optional MyWorkPLAN Touch Screen module can be used to monitor employees' clock-in and clock-out times, as well as their time spent on each task which results in a greater control of the company's productivity.
Continual assessment of the manufacturing cycle also helps to draw attention to production and quality issues before they escalate. MyWorkPLAN's scheduling software shows overstretched resources and potential late deliveries before they happen. Resolving unexpected difficulties early will raise the rate of on-time completion, which will then allow invoices to be issued sooner and payments received more quickly.
The MyWorkPLAN solution even includes an optional Cash Analysis Tool which displays all forecasted cash flow movements to detect any problems before they are picked up by a company's accounting system.
MyWorkPLAN provides general mechanical SMBs with an intelligent, multifaceted approach to reducing their working capital and the length of their cash flow cycle.
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