Simplus 2021 Manufacturing Survey

Is your organization planning to diversify revenue streams because of the Pandemic Effect? We want to hear from you! Take this two-minute survey to weigh in.

NOTE: When the results are available, survey respondents will get a first look at our findings.

The Chemical Revolution is Here

Industry experts Michael Janney, Senior Director, Manufacturing Solution Leader at Salesforce; Tom Lovell, VP, Manufacturing CoE at Simplus; and Elina Peuhkurinen, Industry Team Lead, Technology at Fluido share global experiential insights for digital transformation in CRM at leading process manufacturers.

Outdated manual processes are leaving your business with holes that are being plugged with short-term solutions.

Outdated, manual processes are the reality for some manufacturing finance and sales teams. The teams are taking on more work managing and forecasting product based revenue through shared spreadsheets that can cause inefficiencies, variances, and leakage. Both teams find themselves plugging data holes month after month and quarter after quarter chasing the actual data.

Increasing shareholder value
with better processes

The most innovative manufacturers today seem to be taking a broader approach to revenue recognition. They have set their focus on the ultimate goal of maximizing revenue at the lowest cost and determining the ideal technical architecture to support that goal. This sets them apart from other companies in a few important ways:

  • They recognize the sunk cost fallacy and aren’t afraid to shift to walk away from past investments if they aren’t meeting today’s needs.
  • They take an enterprise architecture approach to where data should be mastered, how it should flow, and which systems are best suited for the tasks.
  • By widening the lens beyond targeted process improvements, they more directly ensure corporate value.

Explore four ways that manufacturers can mature their revenue recognition process here.

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