Epicor ERP for Global Manufacturing
Prior business models have focused on establishing a solid domestic presence before gradually embarking on international expansion. However, digital innovations have disrupted this approach by fostering a global economy that encourages companies to explore opportunities around the world right out the gate. But with globalization has come new challenges for manufacturers, who need reliable, comprehensive resources to grow their enterprise.
For such resources, look no further than Epicor ERP 10, which meets the rapidly evolving challenges of the global marketplace. With 1000 worldwide consultants and a dozen international support centers, Epicor is ideal for manufacturers who have their sights set on becoming global industry leaders. Since we can't limit Epicor's powerful functionality into one post, we're dedicating two posts to the Epicor features that optimize worldwide operations. In our first post, we highlight Epicor’s financial and data management functionality and explain their importance in international expansion.
Businesses face a number of obstacles when managing global finances, including compliance with legal and financial regulations and use of multiple currencies. Epicor rectifies both challenges. Epicor built its financial management module around global engines which simplify finances and compliance. Its Country Specific Functionality (CSF), for example, supports global, regional and local accounting and reporting standards to ensure that you keep pace with regulatory requirements in all your locations.
To gain a competitive edge, it’s important to efficiently process transactions in multiple currencies. With Epicor's multi-currency management module, the process of buying and selling in foreign currencies is automated. Tracking default currencies and exchange rate tables reduces manual transactions, while locking transactions at a specified rate with automatic gain or loss reporting reduces guesswork from handling foreign transactions. The system’s flexibility allows businesses to define unlimited currencies, select and change currencies at the transaction level and comprehensively revalue transactions.
The larger your business grows, the more work your ERP software needs to do to manage finances. Epicor enables businesses to handle legal regulations and multiple currencies without sacrificing efficiency.
The fast-paced, competitive marketplace leaves little room for error, making a trustworthy data management system imperative. This is especially true for global businesses. With growth comes the risk of sacrificing your data's integrity. International enterprises often wind up with multiple, inconsistent versions of the same data, resulting in confusion and errors. Furthermore, global expansion requires complying with more and more regulations, a task which requires clean, accurate data.
Epicor makes managing data easier than ever with a complete menu system that offers simultaneous views of multiple records—even if they are located in different companies or sites—from a single login. Epicor also enables businesses to meet regulations and maintain data for real-time distributed operations. New and changed records are sent to all companies within your enterprise, lowering the risk of duplicate or inaccurate data. Furthermore, while master data management allows for information to be shared throughout your global business, local entities remain autonomous. Therefore, each company or site can maintain its own functions without being restricted to working with global customers or suppliers.
Additionally, data management shouldn't be jeopardized when enterprises operate in different languages. Epicor ERP supports multilingual businesses by separating the language of the business logic from the language of the end user. This means that an organization headquartered in one country can deploy applications in that country’s native language, while an office in another country can use a different language. Epicor grants users this capability without requiring local language customizations.
No matter the language or the location, data must remain up-to-date and consistent. Epicor enables robust data management, ensuring operational efficiency and optimal business performance.
At Datix, we know that it’s hard enough to achieve domestic success. Expanding your business to foreign sites is an ambitious goal which reaps incredible rewards when you implement an advanced enterprise system. In order to ensure your software grows along with your business, our consultants offer scalable solutions and ongoing support. As an Epicor Platinum Partner with 20 years of experience in designing global solutions, you can trust us to address your unique needs.
Additionally, Datix used the same technology that supports Unity, our premier Epicor integration platform, to design Unity X. Unity X is a foreign exchange rate integration system for Epicor ERP. This cutting-edge solution automatically updates exchange rates into your Epicor multi-currency module from XE.com, the world's trusted authority in exchange rates. By providing users with accurate currency rates every day, Unity X eradicates manual data entry and prevents costly pricing and accounting errors.
To find out more about how you can use Epicor ERP and Unity X to launch a worldwide enterprise, contact Datix today! We have the experience and expertise to prime your business for international success.