There will always be technological advancements in manufacturing and whilst keeping pace is a necessity, many manufacturing organisations are discovering another competitive advantage through the evolution of the finance role.
It’s surprising to observe that even highly developed manufacturing organisations are only beginning to exploit the competitive advantages that could be gained from their own data. The lack of a single, shared, true vision of operations can impair productivity, quality and profitability. It also relegates the finance function to a tactical existence as number collectors, rather than strategic storytellers.
Typically finance teams spend more time gathering and accumulating data from multiple data sources than they do actually analysing it. Making matters worse, the source systems usually fail to align with each other, making accurate, effective analysis a near impossible task.
This is exactly where Prophix fits into the equation. Prophix compiles all data inputs into a central system giving managers a single, consolidated view of operations and finance. By adopting Prophix automation capabilities, the finance team can now spend less time gathering data and more time analyzing it. Consequently, finance has become more of a strategic business partner rather than just the people who close the books at the end of the quarter.