PACE360 is a robust ERP for discrete manufacturing and other industries covering all aspects of business management.
1. Sales, Marketing, & Dispatch Management:
PACE360’s sales module empowers businesses to streamline and manage every aspect of the sales cycle seamlessly. From initial inquiries to final invoicing, PACE360 offers a comprehensive suite of features.
It covers the entire sales cycle,
– handling lead generation,
– order placement,
– scheduling,
– dispatch, and
– customer relationship management efficiently.
The module enables complete salesforce automation, allowing for
- target setting,
- route plan monitoring,
- expense tracking, and
- order amendment history.
Additionally, PACE360 facilitates the generation of production advice plans to align production with sales orders. It supports the creation of dispatch orders and multiple dispatches against a single sales order, ensuring smooth logistics management.
Integrated features ease the tasks of finance departments by enabling invoice generation with advance adjustment and sales voucher creation. The system allows for tailored pricing and parts, defining customer-specific prices and reference customer part numbers for personalized quotes and orders. Multi-location management capabilities streamline dispatches from various locations, enhancing delivery efficiency.
For export-oriented businesses, PACE360 generates complete export documentation, simplifying international sales processes. Excise management functionalities capture excise details for accurate calculations.
Lead capture and quoting tools enable the capture of inquiries, generation of quotations, and tracking of amendments in order with complete history. Opportunity analysis features help identify areas for improvement by analyzing lost jobs and optimizing sales Flexible order management allows for the generation of different order types to cater to diverse customer needs.
Automated calculations ensure accurate pricing based on discounts, excise, taxes, and freight. The system facilitates letter of credit management, association with sales orders for streamlined credit management.
Rejection handling capabilities generate rejection invoices for purchase rejections, considering excise implications.
PACE360’s Sales trend analysis through Management Information System (MIS) provides insights into sales trends, forecasting future sales, and making data-driven decisions. Multi-location inventory management allows for stock transfers between warehouses, ensuring optimal inventory distribution. Service invoicing tools enable the generation of invoices for services rendered to customers.
Variance reporting functionalities help identify discrepancies and improve sales performance. Finally, consolidated sales data provides a top-level view of sales across all child companies, facilitating comprehensive sales analysis and forecasting.
2. Budgeting:
The budgeting module of PACE360 enables organizations to plan and allocate financial resources effectively. It includes features for creating budgets, setting financial targets, monitoring budget performance, and analyzing variances. It helps organizations ensure financial discipline, allocate resources efficiently and achieve financial goals.
The budgeting module also helps forecast future financial performance based on ongoing trends. PACE360’s budgeting, planning, and forecasting (BP&F) tools serve as robust solutions intricately designed to seamlessly integrate. The bidirectional transfer of data between the general ledger, payroll, and HR ensures a smooth flow of information throughout the entire system. Automatic updates to provide staff with access to actual costs, updates are also readily available on-demand.
PACE360 possesses in-depth knowledge of both the workflow within each system and the customer’s business processes. This expertise enables to develop proven methodologies for full integration between systems, minimizing risks to the customer and ensuring minimal disruption to end users.
From the outset, a clear integration path is established, defining all aspects including accounting terminology, GL Account Structure, and Custom Fields. This structured approach ensures that everyone understands their role, and success becomes measurable.
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A reliable budgeting tool PACE360 offers safeguards like exception reporting, alerting users to any errors encountered during data import from the ERP system into the budgeting solution. These reports automatically identify issues such as missing positions, incorrect data entry, or formatting discrepancies, allowing users to quickly resolve the problem and resume operations.
Given that salaries often constitute a significant portion of operating budgets, the integration of salary data significantly enhances budgeting functionality. These tools typically feature unlimited forecasting and “what-if” scenarios, accommodating various scenarios such as budgeting for future positions, ensuring efficient allocation across multiple cost centers.
PACE360 ensures powerful two-way data transfer, fostering harmony within the finance and budgeting environment while eliminating the need for duplicate data entry.
3. Production Planning:
PACE360’s production planning process begins with defining inputs, outputs, by-products, and overheads, laying the foundation for effective production management. Next, the Bill of Materials (BOM) is established for all products, extending to multiple levels as needed.
Planning is then driven by customer-specific production advice and sales forecasts. Material requirement planning (MRP) is conducted based on machine capacity, availability, efficiency, raw material availability, and lead time, resulting in a feasible production quantity. A production plan is formulated to optimize resource utilization, encompassing raw materials and machine allocation.
Flexibility is provided to adjust production plans as needed, with options to modify input parameters, production priorities, or quantities based on fresh production advice. The production schedule is generated detailing inputs and outputs for each machine, facilitating efficient scheduling. Machine efficiency and utilization are analyzed to ensure optimal performance.
Upon plan finalization, the system automatically generates Material Requirement Schedules (MRS) and purchase requisitions. Additionally, process requisitions are generated for subcontracted processes, and quantities are reserved for production. Job orders for production are generated automatically, streamlining workflow. Daily production plans can be generated as needed, with the system offering extensive reporting capabilities related to production activities. Overall production management is seamlessly integrated within the PACE360, providing a comprehensive solution for operational excellence.
4. Plant Maintenance
Plant maintenance is a reactive process, where breakdowns prompted repairs, causing costly downtime and disruptions to production schedules. However, with the integration of ERP modules designed for plant maintenance, businesses have moved towards a proactive approach. This helps in minimizing unplanned downtimes optimizing asset utilization with prolonged equipment lifespan.
PACE360’s Plant Maintenance modules schedule and manage preventive maintenance tasks. By analyzing historical data and equipment performance metrics, these systems can forecast potential failures and schedule maintenance activities during planned downtimes, thereby preventing unexpected breakdowns.
Additionally it facilitates streamlined inventory management, ensuring that the necessary spare parts and resources are always available when needed. By maintaining optimal inventory levels and automating procurement processes, businesses can avoid stock-outs and minimize inventory holding costs nd working capital. This seamless integration of inventory management with plant maintenance operations enhances operational efficiency and eliminates delays caused by parts unavailability.
5. Quality Management:
The quality management module focuses on ensuring product quality and compliance with quality standards and regulations. It includes features for defining quality parameters, conducting quality inspections, managing non-conformances, implementing corrective actions, and monitoring quality performance. It helps organizations maintain high product quality, minimize defects, and enhance customer satisfaction.
The Quality Management module for PACE360 ERP, designed to streamline and optimize various quality management methods tailored to diverse organizational needs and objectives. The module encompasses four main methodologies, each offering unique advantages and adaptable features to enhance quality across the organization.
Standardized Systems, including ISO certifications, serve as benchmarks for quality assurance, aligning with organizational objectives and bolstering reputation.
Total Quality Management (TQM) focuses on holistic quality improvement, evaluating every process to enact positive change aligned with company goals. Six Sigma, renowned for its structured, data-driven approach, ensures meticulous quality control through defined processes of Define, Measure, Analyze, Improve, and Control, ideal for large-scale manufacturers. Continuous Quality Improvement (CQI) emphasizes ongoing enhancement, integrating the Plan, Do, Check, Act cycle to refine quality continually, with a focus on individuals and teams contributing to quality outcomes.
PACE360’s Quality Management module provides a versatile solution to implement and manage various quality methodologies, ensuring seamless integration and effective quality management practices throughout the organization’s processes.
6. Asset Management:
The asset management module tracks and manages physical assets throughout their lifecycle, from acquisition to disposal. It includes functionalities for asset tracking, maintenance scheduling, depreciation calculation, and asset performance analysis. It helps organizations optimize asset utilization, reduce maintenance costs, and ensure regulatory compliance.
7. Inventory Management:
The system provides an online status overview of item quantities, detailing on-hand, available, reserved, ordered, and to-be-ordered quantities, encompassing rejected, defective, and re-workable items. It offers comprehensive excise functionality, including the generation of excise registers. Items can be classified across multiple levels, facilitating efficient organization.
Quality control measures are implemented based on predetermined parameters. The system manages material rejections and facilitates the dispatch of rejected materials to subcontractors. Integration is established between Goods Receipt Note (GRN), Purchase Order (PO), and Invoice. Gate passes can be categorized as returnable or non-returnable. Cenvat claims for capital goods are processed seamlessly.
Analytical tools aid in maintaining optimal stock levels, with provisions for physical stock verification and reallocation of re-workable stock. Multiple warehouses, branches, and regional offices are supported, with features for stock transfer and receipts from other warehouses.
Excisable items are defined with chapter allocation, and the system accommodates multiple units of measurement. Alternate items can be designated for production planning purposes.
Additionally, the system handles non-stock low-value items like stationery and facilitates lot-wise tracking of inventory. Various valuation methods such as LIFO, FIFO, and weighted average are available for stock valuation.
Material requisitions can be initiated from different requirement areas, supporting both purchasing and subcontracting processes. Material receipt against sales orders, material requirements, subcontracting, gate pass, and production requisition are seamlessly managed. Landed rates of items are calculated, and consolidation of all warehouses can be performed at any level of the company hierarchy.
8. Finance and Accounts Management:
The Financial Accounting and control module is developed in accordance with IGAAP and IFRS standards of accounting for India. Bills like Goods & Service Tax (GST), e-invoicing, e-waybill could be generated seamlessly with PACE360 adhering to the compliance guidelines. As PACE360 is customisable solution, it can be designed and made adaptive to follow the law of the land in terms of accounts reporting applicable.
Reports like Trial Balance, Profit & Loss Statement (P&L) and Financial Ratio Analysis empowers the top authority including the Chief Financial Officer to have a bird’s eye view of the financia; health of the organisation along with the statutory compliance followed. The ERP finance module stands as a pivotal element in any ERP implementation, overseeing accounting procedures, profit tracking, and financial reporting.
While standard functionalities like accounts payable (AP) and general ledger (GL) management are expected, today’s ERP software market offers a plethora of additional features. With ERP systems offering diverse capabilities across all domains, finance is no exception, with different systems catering to varying requirements.
PACE360 serves as the hub for financial data, generating reports including quarterly financial statements, ledgers, profit tracking, and balance sheets. A robust finance module is indispensable for businesses, offering transaction handling, invoicing, comprehensive reporting, and revenue management across all departments.
9. Purchase Management:
The system streamlines purchase and process cycles by incorporating a detailed Supplier/Subcontractor/Service Provider database, enabling efficient capture of materials requirements. It automatically generates purchase requisitions based on Material Requirement Schedule (MRS) and gathers quotations from various suppliers. Moreover, it records payment terms in Purchase Orders (PO) and considers excise duties in both purchase and process orders. Authorization of POs, along with the ability to amend them while maintaining a complete history of changes, facilitates order management. The system allows for order cancellation and closure, accommodates multiple delivery schedules, and ensures quality inspection of received goods. Additionally, it manages quotation validity and provides Management Information System (MIS) reports for vendor evaluation based on quality, price, and delivery time. For subcontracting, it generates process orders and supports multiple indents within a single PO. Purchase order processing includes comprehensive entry of item details, taxes, discounts, and extra charges such as freight and octroi. The system offers flexibility to generate POs in domestic and foreign currencies and handles advance adjustments seamlessly. Purchase bills update the General Ledger (GL) and purchase book, while also managing service contracts, bills, indents, and POs. It implements value-based approval for indents and manages bill of entry for imports, including excise considerations. Comprehensive import functionality covers custom details, and reports provide order tracking for complete control over the procurement cycle.
10. Consolidated Account:
Introducing the Consolidation module for PACE360 ERP, a powerful tool designed to streamline financial consolidation procedures seamlessly. This module offers a consolidated view of Profit and Loss statements, allowing users to access detailed reports and analyze financial accounts across subsidiary enterprises effortlessly. With PACE360 Consolidation, the process of consolidating financial data is quick and straightforward, enabling corporate development with ease. Users have the flexibility to create and modify account groups as needed, with the option to designate parent account groups for stored accounts. Consolidated accounts are efficiently organized into subgroups for clarity and ease of management. Overall, the PACE360 Consolidation module simplifies the consolidation process, empowering organizations to save time and resources while ensuring accuracy and compliance. PACE360’s Consolidated Account module allows every department to work in sync with the organisational growth plan ensuring operational excellence.
11. Warehouse Management:
The Warehouse Management System offers several key features to streamline warehouse operations efficiently. It enables organizations to design warehouse infrastructure to accommodate seasonal inventories adequately. Through barcode scanning, the system facilitates inventory monitoring and movement swiftly. Utilizing pick-to-light and pick-to-voice technologies, the system optimizes incoming and outgoing inventory processes. Various efficient picking methods such as zone picking, wave picking, and batch picking enhance productivity in picking and packing finished products. Moreover, the system facilitates shipping by generating invoices, packing lists, and sending advance shipping notifications to customers. Employee management functionalities allow warehouse managers to oversee and evaluate employee performance using key performance indicators (KPIs). Dock management features guide drivers to appropriate docks for inventory loading and unloading. Additionally, the system generates comprehensive documentation and reports for managers to analyze warehouse processes effectively.
12. Audit Trail:
Ministry of Corporate Affairs (MCA) India, has made it mandatory to bring in audit trail rule in accounting software. PACE360’s audit trail module tracks and records all system activities and transactions for accountability and compliance purposes. It includes features for user authentication, activity logging, data encryption, and audit trail analysis. It helps organizations ensure data integrity, detect unauthorized activities, and meet regulatory requirements.
Each of these ERP modules of PACE360 plays a crucial role in managing different aspects of business operations, contributing to overall efficiency, productivity, and competitiveness. Integration of these modules within an ERP system provides organizations with a unified platform for managing their resources, processes, and relationships effectively.
