3C Software: End-to-End Cost and Profitability Solutions
Matthew Smith, President and CEOFocusing on finance and operation leaders, 3C Software’s ImpactECS platform has the ability to model any business scenario using logic and data unique to the company’s business processes and requirements. “Working with mission-critical data within an organization is not something that business leaders take lightly,” says Smith. Beginning with a stand-alone desktop application in 1989, ImpactECS has evolved into an enterprise platform with a comprehensive toolkit and complete interoperability with SAP ERP to meet the needs of world class organizations.
"With ImpactECS, the business users, not IT owns model design and management
“ERP systems are great at handling transactional data but are often limiting when it comes to analytical tasks,” says Smith. ImpactECS houses the model logic and leverages data from ERP and other systems to build dynamic cost and profitability models.
ImpactECS calculates costs and profits starting with the most granular cost detail and can roll up to compute overall corporate profits. Having this level of detail makes it possible for business leaders to drill into any result to determine the cause and make more informed recommendations on the best path forward. “Companies use ImpactECS to build sophisticated models for standard and actual costing, variance analysis, inventory valuation, forecasting and budgeting, rate building, quoting and estimating, post-production costing, profitability, scenario analysis and more,” says Smith.
The unique combination of an enterprise-level solution with the flexibility to build any type of business model stands as the key differentiator for the company. “With ImpactECS the business users, not IT, owns model design and management,” says Smith. The platform is designed to handle any modeling scenario without the need for source code modification. “All of our implementations are led by 3C Software accounting and technology experts who work directly with the client’s finance, accounting, operations and IT teams to develop models,” Smith adds. Customer requirement drives the implementation plan and is segmented into phases that meet the company’s business needs.
3C Software serves manufacturers, distributors and services organizations across different verticals including chemicals, food and beverage, financial services, textile and apparel, and metals. For instance, 3C Software has helped the single largest semiconductor manufacturer to deliver a fully integrated Cost of Sales system for their core business. With ImpactECS, the company not only reduced the overall close cycle, but was also able to increase cost visibility and cost analysis. They were able to perform allocations to determine the cost per activity, value inventories for every work-in-process and finished goods item, calculate inventory reserve values for lower cost of market, demand, and discretionary accounts and forecast costs for future activities at each manufacturing stage. The ImpactECS installed base includes well known companies including Coca Cola, Fruit of the Loom, Tyson Foods, MillerCoors, GLOBALFOUNDRIES, Shaw and Sealed Air.
Going forward, 3C Software is focusing more on sectors like finance and healthcare that could benefit from forward-looking modeling capabilities to gain a competitive advantage. “We’ll continue to expand the capabilities of the ImpactECS platform, build deeper knowledge in our existing industries, and expand our offering to new industries,” says Smith.
3C Software serves manufacturers, distributors and services organizations across different verticals including chemicals, food and beverage, financial services, textile and apparel, and metals. For instance, 3C Software has helped the single largest semiconductor manufacturer to deliver a fully integrated Cost of Sales system for their core business. With ImpactECS, the company not only reduced the overall close cycle, but was also able to increase cost visibility and cost analysis. They were able to perform allocations to determine the cost per activity, value inventories for every work-in-process and finished goods item, calculate inventory reserve values for lower cost of market, demand, and discretionary accounts and forecast costs for future activities at each manufacturing stage. The ImpactECS installed base includes well known companies including Coca Cola, Fruit of the Loom, Tyson Foods, MillerCoors, GLOBALFOUNDRIES, Shaw and Sealed Air.
Going forward, 3C Software is focusing more on sectors like finance and healthcare that could benefit from forward-looking modeling capabilities to gain a competitive advantage. “We’ll continue to expand the capabilities of the ImpactECS platform, build deeper knowledge in our existing industries, and expand our offering to new industries,” says Smith.
Company
3C Software
Management
Matthew Smith, President and CEO
Description
3C Software provides cost and profitability solutions to meet the analysis needs of business leaders
