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Today’s manufacturing companies find themselves managing the competing priorities of efficiency and quality within the context of truly global operations. Pressure for low-cost manufacturing has directed focus to global sourcing and low-cost production. At the same time, demands for high-quality products require research and development, product innovation, and Six Sigma improvements.
Experience has shown that many manufacturing companies have developed their global procurement, production, and distribution operations through mergers and acquisition, and are left managing disparate and often incompatible systems. This not only adds a layer of difficulty to an already complex financial and management reporting process, but it also threatens visibility into performance and results in duplication of processes.
OPI’s finance, accounting, and analytics services for manufacturing companies have been developed to best help companies overcome this situation. OPI’s specialization in process re-engineering allow for centralization and standardization of data and process, allowing for efficient, accurate consolidation of data from disparate systems.
OPI’s manufacturing focused solutions also have been refined to help manufacturing companies manage both cash flow and expenses. By improving the efficiency of the purchase to pay function, ensuring compliance with supplier and freight contracts, and enabling efficient demand / sales forecasting, our clients benefit from an improved cash positions which allows for reinvestment of resources into R&D and other advancements.
Outsourcing is also providing leading manufacturing companies with a certain level of flexibility. As operations shift global locations, or volumes increase and decrease, manufacturing companies are reaping the efficiency benefits of outsourcing’s scalable cost structure. By employing this model, companies are finding themselves able to adjust the scale of operations and access globally-based, multi-lingual talent.
In addition to the full suite of finance & accounting and analytics services, some of OPI’s Manufacturing focused solutions include:
- Financial Consolidation - consolidation of information and financial results from disparate accounting systems - results in centralization and standardization of data for improved transparency into operations and performance.
- Credit Risk Management - credit analytics - proactively controls credit exposure, minimizes risk of bad debt, and rightsizes reserves.
- Purchase to Pay - PO, non-PO, and freight invoice processing, new vendor set-up, scanning, workflow, matching, reconciliation, exception resolution, payment and internal cost allocations including GL and SKU coding - results in centralization and standardization of data for improved transparency into operations and performance.
- Contract Compliance - freight payment pre- and post-audits, supplier agreement audits, channel agreement audits - increases compliance with freight and supplier contract terms.
- OPI Analytics - demand forecasting, modeling, pricing sensitivity analysis, product profitability scenarios, competitor positioning, and so on - provides informed, efficient analytics for forecasting and modeling that can trim inventory holding costs, impact pricing, and drive margin.
- Investment - financial analysis, company profiles, portfolio tracking, equity research, financial modeling, forecasting, M&A analysis, fund accounting - provides customized research and analytics that aid in strategic decision-making.
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