Cincom Report: Industrial Manufacturers Excel at Real-Time Project Management Reporting...

Cincom Report: Industrial Manufacturers Excel at Real-Time Project Management
Reporting Compared to Peers
But large gap still remains

CINCINNATI, Sept. 3 /PRNewswire/ -- Only 30% of industrial and plant equipment
manufacturers have a system that provides for assignment of indirect costs and
real-time reporting. Yet, this is 12% higher when compared to a composite
benchmark of comparable industries.

This is according to a 2009 research report by software maker Cincom Systems
(www.cincom.com/acquire) based on a national survey to sales and IT executives
that sheds light on how these industrial and plant equipment manufacturing
organizations are managing their businesses for increased efficiency and
effectiveness.

LACK OF LEAN PROJECT MANAGEMENT . . .
"Not having integrated project management to guide lean manufacturing is a lot
like trying to steer a ship across the Atlantic without a compass," says Lou
Washington, co-author of the report. Yet, only 10% of those surveyed use
integrated project management with lean manufacturing. This egregious gap
could be filled by the other 90% implementing some form of real-time reporting
with their project-management process.

LEADS TO LACK OF PROFIT AND LOSS KNOWLEDGE
"Rapidly growing industrial and plant equipment manufacturers that create
profit and loss statements per project outperform those that are not gaining
insight into project costs," says Washington. However, few appear to be
creating profit and loss (P&L) statements given that just under one-third
(30%) of industrial and plant equipment manufacturers have no
project-management integration with accounting, finance or customer management
systems. And 70% don't have any form of project-management integration in
place at all.

What should industrial and plant equipment manufacturers do to improve their
bottom line? "Industrial and plant equipment manufacturers need to integrate
their project-management and financial systems to better track P&L of
projects," says Washington. "By better managing costs and profits, they can
improve their ability to offer high-quality products at lower prices."

For a copy of Cincom's "2009 Industrial and Plant Equipment Industry Survey
Report," visit www.cincom.com/I&Pebook.

ABOUT CINCOM SYSTEMS
For 40 years, Cincom's problem-solving software, services and people have
helped thousands of companies all over the world grow and manage their
businesses. For more information about Cincom's products and services, contact
Cincom at 1-800-2CINCOM (USA only), send an e-mail to info@cincom.com or visit
the company's website at www.cincom.com.

RELATED LINKS:

Cincom Systems website
www.cincom.com

Cincom Acquire(TM) manufacturing website
www.cincomacquire.com

Cincom Enterprise manufacturing website
www.cincomerp.com

2009 Industrial and Plant Equipment Industry Survey Report
www.cincom.com/I&Pebook

Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Lou Washington
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=55988

SOURCE Cincom

Donna Hedge Burns, Public Relations Specialist, of Cincom Systems, Inc.,
+1-513-612-2305, dburns@cincom.com