CIO Review >> Magazine >> March - 2014 issue

3C Software: Catering to The Needs of Finance And Operations Leaders And Practitioners


Friday, March 7, 2014

Benita M In today's business environment, one way companies look to cut costs and increase profits is by deploying a high impact analysis process that provides access to detailed cost results. These answers drive business decisions like setting prices for products and services, removing non-value-added activities or adjusting production plans. The continuous "data drown" that many finance and operations teams face creates challenges with consolidating and analyzing data. Organizations are constantly looking for a solution that can address their ability to access the data they need to make informed decisions.

ImpactECS – A Cost and Profitability Solution for All

To the rescue is 3C Software – a company focused solely on helping companies uncover the true costs and profits for the products and services they provide. Founded in 1989, 3C Software develops their flagship product – ImpactECS, a platform that allows companies to configure sophisticated cost and profitability models that meet the specific needs of their business. With over 600 installations worldwide, the ImpactECS platform has replaced thousands of spreadsheets, dated legacy applications and limited ERP modules. The familiar user interface, centralized data access, and ability to fit into any IT architecture makes ImpactECS a valuable tool for finance and operations leaders.

Companies from the manufacturing sector were among the first to embrace the capabilities of ImpactECS. The more complex the production process, the greater the need for a tool that can handle all the nuances of calculating detailed and accurate cost and profitability answers. While each installation is different, most ImpactECS implementations are used to set standard costs, calculate actual costs and variances, value inventories, build budgets and rates, and allocate overhead spending.

Most of 3C Software's clients come from process manufacturing verticals and include well-known companies like Coca-Cola, Intel, Tyson Foods, Fruit of the Loom, Shaw, Domtar, and Solo Cup. The object-oriented design of ImpactECS provides a toolbox of functionalities that allows companies in a wide range of industries to use the same platform to configure cost and profitability models that fit their unique business rules and methodologies.

As an example, paper companies like Domtar and Clearwater Paper have constructed models that use shop floor and financial data to forecast cost, consumption and profitability at the paper machine and enterprise level to understand overall performance and as a basis for developing new paper grades. Tyson Foods uses ImpactECS to calculate detailed costs and variances by line, department, and plant to value meat blocks and determine yields to tightly manage profitability. Merchandising company HMS uses ImpactECS as a quoting and estimating tool to determine the profitability of custom orders for its wide range of housewares and organization products.

The future of ImpactECS

"There is a significant need in the services sector for more sophisticated cost and profitability tools," says Matthew Smith, President & CEO 3C Software is working with existing customers in manufacturing that have post-production processes as well as focusing on new opportunities in the distribution, hospitality, and financial service arenas. From a technology perspective, 3C Software's development team is continuing to expand the capabilities of ImpactECS including expanded reporting options and cloud based solutions.