Manufacturing has always been a leader in corporate software development. Manufacturing organizations are constantly looking for the best method to stay competitive in the face of growing developments and market shifts.  

According to research, manufacturing is the most common user of enterprise resource planning (ERP) software, accounting for 47% of the total companies considering investing in a specialized manufacturing tool.

This is just the beginning. Manufacturing software is currently used by businesses for everything from inventory management to financial accounting to production scheduling and many other aspects of operations. With all of the stages required to generate inventory on a large scale, employing the correct software to manage and simplify operations has become a requirement in modern manufacturing firms.

What is Manufacturing Software?

Manufacturing software refers to any platform or technology used specifically for on-premise inventory and production. It covers a wide range of daily activities, including production planning and forecasting, asset production management, and inventory tracking. 

The capacity to serve across many business processes is a crucial characteristic of most manufacturing solutions. Manufacturers have a lot of moving components, and the best approach for a software solution to optimize efficiency is through customization and bridging the full end-to-end manufacturing process. 

Introducing Manufacturing in Moneypex Accounting Software

Moneypex is redefining the future of manufacturing management! We are excited to announce the major update to Moneypex Accounting Software, which now includes a comprehensive Manufacturing Feature. This powerful addition to our SAAS platform enables you to handle every aspect of your manufacturing process with ease, from operations and workstations to suppliers, costing, and labor management. In this blog post, we will delve into the details of this update, showcasing what you can expect and the remarkable capabilities it brings to your manufacturing workflow.

Why Should You Use Moneypex For a Manufacturing Department?

Moneypex Manufacturing may be used by small-to-medium-sized enterprises that require a wide range of industry-specific capabilities and complex inventory tools in the following circumstances:

You produce goods with numerous complex elements

Items that require more materials than normal can be time-consuming and difficult to price. Moneypex Manufacturing allows you to set amounts for certain assembly methods.

You have specific pricing rules

Individualize rates based on specific clients, customer kinds, and individual sales.

You'll need precise sales reports

Create financial reports based on representatives, specific items, product categories, or customers.

What Can You Expect From This Update in Moneypex? 

Streamlining the Manufacturing Process

With the new Manufacturing Feature, Moneypex enables you to streamline and optimize your manufacturing operations. From raw materials to finished goods, you can track and manage every step of the process, ensuring efficiency and minimizing waste.

Real-Time Visibility and Control

Gain real-time visibility into your manufacturing operations with live updates on production status, work orders, and inventory levels. This helps you to make informed decisions and take timely actions, optimizing your production flow and meeting customer demands effectively.

Improved Resource Utilization

Efficiently allocate resources, including materials, equipment, and manpower, to maximize productivity. It will help you monitor and manage resource utilization, enabling you to identify bottlenecks, eliminate redundancies, and optimize your production capacity.

Seamless Supplier Management

Streamline your supply chain by seamlessly onboarding and integrating suppliers. Automate purchase order generation, track inventory and ensure timely delivery of raw materials.

Accurate Costing and Billing

Precisely calculate manufacturing costs for delivered and waste products and track billable and non-billable expenses. Generate accurate invoices automatically, reducing errors and streamlining the billing process. 

Efficient Labor Management

Effectively track and manage labor hours, optimize workforce allocation, and analyze labor costs to improve productivity and resource utilization.

Future-Proof Solution

With regular updates and improvements, expect ongoing enhancements and new features to adapt to the evolving needs of the manufacturing industry, ensuring your software remains up-to-date and relevant.

Moneypex Manufacturing Update Release Timeline

We are excited to announce that the highly anticipated Moneypex Manufacturing Update is on its way! We understand the excitement surrounding this release, and we are working tirelessly to ensure that it exceeds your expectations. The Manufacturing Feature is set to go live by the end of 2023, specifically during the last quarter. Our development team is diligently fine-tuning the feature to provide you with a seamless manufacturing management experience that will transform the way you operate. We will keep you informed throughout the process, sharing regular updates and insights as we approach the official release. So, be ready to experience a new era of efficiency and control in your manufacturing processes with Moneypex!

Interested in other updates too? Here’s a recent update in Moneypex accounting software to deal with multi-currency and enable doing business globally. 

Final Thoughts 

With the new Manufacturing Feature in Moneypex Accounting Software, we are dedicated to empowering your manufacturing process with enhanced efficiency, control, and visibility. From optimizing production operations and managing workstations to streamlining supplier management, costing, labor, and quality control, our comprehensive solution brings together all the tools you need to thrive in the manufacturing industry. Let’s enter to the future of manufacturing management with Moneypex and experience the full potential of your production processes.

FAQs

What is the Moneypex Manufacturing Feature?

The Moneypex Manufacturing Feature is a comprehensive addition to our accounting software designed specifically for businesses involved in the manufacturing process. It offers tools and functionalities to manage every aspect of your manufacturing operations, including workstations, suppliers, costing, labor management, and quality control.

How can the Manufacturing Feature improve my manufacturing process?

The Manufacturing Feature streamlines your manufacturing operations, offering real-time visibility and control, enhanced resource utilization, and automated processes. With this feature, you can optimize workflows, reduce production inefficiencies, and make data-driven decisions to improve productivity and profitability.

Can I track workstations and their performance using Moneypex?

Yes, you can track workstations and their performance using the Manufacturing Feature. It allows you to set up and configure workstations, monitor production output, downtime, and utilization rates, and optimize your production flow for improved efficiency.

How does the Manufacturing Feature handle supplier management?

The Manufacturing Feature simplifies supplier management by enabling seamless integration with suppliers. You can onboard suppliers, generate purchase orders automatically, and track inventory levels to ensure a smooth and reliable supply chain.

Can I accurately calculate manufacturing costs with Moneypex?

Absolutely! The Manufacturing Feature includes accurate costing calculation capabilities. It tracks direct and indirect costs, such as materials, labor, overheads, and equipment usage, providing you with a comprehensive cost analysis to optimize your manufacturing expenses.

Does Moneypex offer labor management tools?

Yes, the Manufacturing Feature includes labor management tools that allow you to track time and attendance, manage labor costs, and optimize workforce allocation. You can streamline payroll processing and ensure compliance with labor regulations.

How does Moneypex assist with quality control and compliance?

The Manufacturing Feature helps you implement robust quality assurance processes. It allows you to define inspection criteria, track inspection results, and maintain detailed quality records to ensure consistent product quality and compliance with industry standards.

Can I access real-time analytics and reports with the Manufacturing Feature?

Absolutely! Moneypex offers customizable manufacturing reports and a real-time analytics dashboard. You can access key performance indicators (KPIs), monitor production trends, and gain actionable insights to drive continuous improvement.

Does the Manufacturing Feature integrate with other tools?

Yes, Moneypex offers seamless integrations with various tools through APIs. You can integrate with inventory management systems, project management tools, and other third-party software to create a unified and collaborative manufacturing ecosystem.

Will the Moneypex Manufacturing Feature receive regular updates?

Yes, we are committed to continuously improving and enhancing the Manufacturing Feature. With regular updates, you can expect new functionalities, improvements, and adaptations to keep your software up-to-d