Greater transparency thanks to company-wide standards with built-in flexibility
The standardisation of the costing methods used across the company guarantees consistent, accurate, and compatible cost calculations. With FACTON EPC, the computing logics and methods are streamlined across all departments while adequate flexibility is maintained. All results can be produced at minimum expense and with the necessary transparency.
Accurate cost calculations are crucial for management in order to steer the company towards higher profits and sustainable growth. With FACTON EPC, profit drivers can be identified and valuable information for profit & loss calculations can be gained from existing product and project outcomes. FACTON EPC ensures that cost calculations are performed with standardised methods for optimised comparability.
Without a suitable software solution, enterprises are hard pressed to enforce such streamlined standards at all their departments and plants. As a result, projections regarding costs, profits and losses are often inaccurate and unreliable, leading to time-consuming correction loops or even decisions that are detrimental to the business. By using FACTON EPC, enterprises can eliminate these risks.
Standardised costing layouts for efficient profit & loss accounting
The standardised costing layout behind the FACTON EPC solution includes all cost layers and computing logics required for accurate cost calculations. The methods for cost accounting, profitability accounting, and the identification of key indicators are defined in cooperation with the client, and subsequently implemented in the form of the FACTON costing layout. This guarantees that all analyses, simulations, and reports are run according to the same rules. The factors and results of the calculations are thus comparable, while cost, profit and loss computations can be generated within minimum time.
Even more unusual practices such as internal transactions or the calculation of price increases for materials can be implemented in a standardised format.
Consistent master data – available company-wide at the push of a button
The relevant master data to be used in cost calculations is stored in FACTON and is automatically updated as required. Such data includes, for example, overhead costs, currency exchange rates, material prices, tariffs for machines and labour, etc. FACTON does away with the maintenance of master data in different files, or time-consuming manual input. It also prevents employees from inadvertently using different data or outdated figures in their costing. Any additional information that is required can be added easily and at any time. For this purpose, the software comes with standard import interfaces, and also supports manual data input and updating.
In order to perform repeat cost calculations at the push of a button, FACTON EPC automatically synchronises the databases. It is up to the user to decide when and how often this is done. Changes made to the data used in a calculation can always be traced.
Retaining maximum flexibility at all times
Apart from the high degree of standardisation available with the FACTON EPC solution, the software caters for operator-specific methods and costing options. Users at different locations or departments can view and edit specific cost elements. It is also possible to enter costs with different degrees of accuracy.
Through these options, FACTON EPC offers the flexibility required for costing and profit & loss accounting while maintaining a high level of standardisation.