The manufacturing industry is complex as it includes delivering products and services to their clients. Therefore, manufacturing companies require an accounting solution that is robust and is able to process from raw materials to the finished products. As such, features for procurement, supply chain management, production management and customer order management are absolutely necessary. The accounting software should also support AP, AR, tax-approved and generates a wide array of financial reports.
On top of accounting functions, manufacturing companies should also look out for useful inventory management tools such as stock valuation, multi-location, track stock balance and product sales analysis reports.
With an automated system, companies can expect to eliminate labor-intensive task (stock taking, doing spreadsheets), reduce human error and increase work efficiency, all the while cutting cost.
It is worthy to take note if the software is able to integrate with third-party software such as payroll or point-of-sales to streamline management of manufacturing production and scheduling.