3C Software https://www.3csoftware.com Thu, 21 Mar 2024 15:31:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.9 https://www.3csoftware.com/wp-content/uploads/2017/11/cropped-logo-32x32.png 3C Software https://www.3csoftware.com 32 32 Enhancing ERP Cost and Profitability Analytics Capabilities with ImpactECS https://www.3csoftware.com/enhancing-erp-cost-and-profitability-analytics-capabilities-with-impactecs/ https://www.3csoftware.com/enhancing-erp-cost-and-profitability-analytics-capabilities-with-impactecs/#respond Thu, 21 Mar 2024 15:31:38 +0000 https://www.3csoftware.com/?p=19293 In today’s competitive business landscape, efficient management of enterprise resources is crucial for organizational success. Enterprise Resource Planning (ERP) systems have emerged as powerful tools to streamline and integrate various business processes across different departments. However, many organizations face challenges when it comes to effectively managing and analyzing their cost and profitability data within their ERP systems.

To address these challenges, companies have started to integrate dedicated cost and profitability management software, such as ImpactECS, with their existing ERP systems. In this article, we will explore how ImpactECS can enhance ERP costing capabilities and provide organizations with a...

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WEBINAR: Transform your Quoting Process with Detailed Cost Insights https://www.3csoftware.com/webinar-transform-your-quoting-process-with-detailed-cost-insights/ https://www.3csoftware.com/webinar-transform-your-quoting-process-with-detailed-cost-insights/#respond Thu, 22 Feb 2024 21:13:46 +0000 https://www.3csoftware.com/?p=19268 Thursday, March 14 2024

Do you refer to the costing part of your quoting process as guesswork? Join our 30-minute webinar “Transform your Quoting Process with Detailed Cost Insights” and delve into the concept of Cost-Based Quoting. Through real-world use cases, we will demonstrate the value of integrating material, labor, and overhead cost calculations into the quoting process. Discover how this strategic approach has enabled businesses to optimize pricing strategies, achieve better cost control, and outperform competitors.

By attending this webinar, you will learn how to:

  • Implement a Cost-Based Quoting approach that provides accurate and timely cost information.
  • Leverage comprehensive data to streamline your quoting process...

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Top CFO Priorities in Product Costing and Profitability Analytics https://www.3csoftware.com/top-cfo-priorities-in-product-costing-and-profitability-analytics/ https://www.3csoftware.com/top-cfo-priorities-in-product-costing-and-profitability-analytics/#respond Thu, 08 Feb 2024 16:02:12 +0000 https://www.3csoftware.com/?p=19260 In today’s fast-paced and ever-changing business landscape, CFOs face numerous challenges when it comes to analyzing product costs and optimizing profitability. To excel in this competitive environment, CFOs must prioritize their efforts and focus on key areas.

This article explores the top priorities for CFOs in product costing and profitability analytics, offering a comprehensive roadmap to success. By understanding these priorities and leveraging the powerful tools available, CFOs can gain deeper insights into costs, enhance profitability, and make data-driven decisions that drive long-term success.

Advanced Cost Modeling

A major trend in product costing is the shift towards advanced cost modeling. To implement these...

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Top 10 Reasons Companies Invest in Cost Management Solutions https://www.3csoftware.com/top-10-reasons-companies-invest-in-cost-management-solutions/ https://www.3csoftware.com/top-10-reasons-companies-invest-in-cost-management-solutions/#respond Mon, 29 Jan 2024 16:06:40 +0000 https://www.3csoftware.com/?p=19207 In an era of rapidly changing market dynamics and increased competition, companies must have a solid grasp of their cost structures to drive profitability and maintain a competitive edge. This has led to a growing trend of organizations investing in cost management solutions to gain granular insights into their cost drivers, enhance cost control, and streamline operations. In this article, we will explore the top 10 reasons why companies are prioritizing cost management solutions and the transformative impact these solutions can have on your cost analysis, profitability, and overall business performance.

  1. Gaining Cost Visibility and Control: Companies often struggle to understand their spending patterns, hindering their ability to...

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The Power of Business Simulations for Manufacturing Organizations https://www.3csoftware.com/the-power-of-business-simulations-for-manufacturing-organizations/ https://www.3csoftware.com/the-power-of-business-simulations-for-manufacturing-organizations/#respond Wed, 27 Dec 2023 15:15:34 +0000 https://www.3csoftware.com/?p=19169 In today’s fast-paced manufacturing landscape, where factors affecting costs, quotes, and profitability are constantly changing, organizations need to create a sustainable environment and strive for continuous improvement. Business simulations offer a unique solution to navigate the complexities of cost analysis and profitability, providing decision-makers with the tools they need for sustainable business agility.

At 3C Software, we have developed a comprehensive Cost and Profitability Framework that empowers manufacturers to unlock their true profit potential. In this article, we will explore the importance of business simulations and how they enable organizations to make informed decisions and drive profitability.

The Need for...

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Building a Cost Culture: Key Strategies for Manufacturing CFOs https://www.3csoftware.com/building-a-cost-culture-key-strategies-for-manufacturing-cfos/ https://www.3csoftware.com/building-a-cost-culture-key-strategies-for-manufacturing-cfos/#respond Tue, 14 Nov 2023 17:20:14 +0000 https://www.3csoftware.com/?p=19167 Strong CFOs recognize that part of a thriving (and profitable) corporate culture includes creating awareness and understanding of the role that costs play in every decision. By enabling collaborative and transparent cost management processes, you can improve cost and profit performance while giving you a leg up against the competition.

Building a successful cost culture includes establishing a robust understanding of costs in every phase of the product life cycle—from quoting and development through manufacturing, steady-state operations, and ultimately end-of-life. A cost culture encourages informed decision-making, and there are a few focus areas that can drive success. Below are five strategies that lead to a strong cost...

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WEBINAR: The Cost of Not Costing Right! https://www.3csoftware.com/webinar-the-cost-of-not-costing-right/ https://www.3csoftware.com/webinar-the-cost-of-not-costing-right/#respond Mon, 30 Oct 2023 15:35:17 +0000 https://www.3csoftware.com/?p=19142

 

Thursday, November 9 | 11 AM EST

3C Software’s Adrian Rochofksi will be joining Society of Cost Engineers for a webinar on “The Cost of Not Costing Right!”

Now more than ever it is important to have all your product costing, quoting, and pricing processes established in your organization.

This presentation will discuss “having the right data in the right place”, applying the right business logic on how to calculate cost and profit margins, and how it supports in making better data driven decisions for your organization.

Learn how companies are successfully living the journey from costing a product to creating accurate customer facing price quotes for their products and end up using analytical toolsets to create Quote to Actual analysis activities identifying profit margin leakages across the value chain.

Register for webinar here: https://zoom.us/webinar/register/WN_3KEwb8wMSt-PcNMef1mDog#/registration

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WEBINAR: Better Together: Connecting Costing, Quoting, & Pricing https://www.3csoftware.com/webinar-better-together-connecting-costing-quoting-pricing/ https://www.3csoftware.com/webinar-better-together-connecting-costing-quoting-pricing/#respond Tue, 03 Oct 2023 14:52:41 +0000 https://www.3csoftware.com/?p=19131

This 30-minute webinar delves into the critical role of cost information in shaping pricing strategies for different organizations. Gain a deeper understanding of how cost information impacts quoting and pricing decisions and explore methodologies to analyze costs accurately to enable smarter pricing strategies. Additionally, we discuss how leveraging cost data in pricing can enhance customer value perception, driving brand loyalty and market positioning.

Discover the transformative potential of cost information in crafting pricing strategies that unlock value and drive sustainable growth for your organization.

Please watch the recording for a quick and informative session focusing on connecting costing, quoting, and pricing in an organization.

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https://www.3csoftware.com/webinar-better-together-connecting-costing-quoting-pricing/feed/ 0 WEBINAR: Better Together: Connecting Costing, Quoting, & Pricing - 3C Software This 30-minute webinar delves into the critical role of cost information in shaping pricing strategies for different organizations. Gain a deeper understanding of how cost information impacts quoting and pricing decisions and explore methodologies to analyze costs accurately to enable smarter pricin ConnectingCostQuotePricleArticleFeaturedImage
Better Together – Connecting Costing, Quoting, and Pricing https://www.3csoftware.com/better-together-connecting-costing-quoting-and-pricing/ https://www.3csoftware.com/better-together-connecting-costing-quoting-and-pricing/#respond Tue, 26 Sep 2023 15:26:04 +0000 https://www.3csoftware.com/?p=19102 In the realm of business, the ultimate goal is to generate profit, and one of the simplest ways to achieve this is by selling products at a price that exceeds the costs of production and delivery. While the concept might be straightforward, the execution is far from simple. Achieving profitability requires a deep understanding of costs, a strategic approach to pricing, and the ability to align these crucial elements seamlessly. In this article, we explore the critical connection between costing, quoting, and pricing and how technology can streamline these processes to optimize profitability.

At its core, profitability hinges on a straightforward principle: make sure that the price at which you sell your products exceeds the cost of...

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Should Standard Costing Be Used for Decision Support? https://www.3csoftware.com/should-standard-costing-be-used-for-decision-support/ https://www.3csoftware.com/should-standard-costing-be-used-for-decision-support/#respond Tue, 22 Aug 2023 17:21:25 +0000 https://www.3csoftware.com/?p=19097 Most manufacturing organizations use standard costing as the default mechanism to cost their products, inventory and estimate the cost of manufacturing activities at each step of completion.

This isn’t news or a surprise to anyone. Organizations began using standard costing in the 1920s – and not much has changed since then. Because most companies already use standard costing, new competitors must also use it to help analysts make apples-to-apples comparisons.

However, what this means and how this costing method impacts an organization’s overall profitability and optimization should be considered.

Let’s break that down a little further:

  1. Using standard costs, the organization spends several months gathering inputs for things like raw material...

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