Time management, sales oversight and maintenance of a steady cash flow are critical tasks for subcontract precision engineers. For many small to medium enterprises (SMEs) in this industry, tackling these challenges can be overwhelming without the right tools.
This is where PSL Datatrack’s Cost Centres module shines, providing a structured way to define and manage resources and ultimately allowing users to streamline operations and improve profitability. Read on to discover more!
What is the Cost Centres module?
The Cost Centres module in PSL Datatrack is a powerful tool designed to simplify how engineering firms manage their resources, assign costs and optimise their workflows. At its core, the module allows users to define work areas, which can be individual machines, groups of machines, entire departments or even people.
These cost centres are the building blocks for calculating quotations and job costings, ensuring that every project is priced accurately and progresses through the factory seamlessly.
How does it help?
Accurate Cost Management
Precision engineers often face challenges managing the costs associated with setting, production and overheads. The Cost Centres module addresses this by allowing users to assign different costs per hour, per resource, for setting and production.
This detailed breakdown ensures that every aspect of a job is accounted for, helping businesses avoid underestimating costs and safeguarding their profit margins.
Optimised Resource Allocation
With tight schedules and high demands, efficient allocation of resources is vital. The Cost Centres module enables engineers to assign specific machines or groups to a cost centre, making it easier to manage and schedule work. Grouping cost centres into departments provides a structured framework for organising shop floor activities, facilitates the creation of detailed work-to-lists and enables fast, accurate shop floor data collection (SFDC) while minimising errors.
By integrating with the Sequential Scheduler, the Cost Centres module helps in determining the availability of resources, ensuring that machines are not overbooked and deadlines are met.
Improving Cash Flow
For many subcontract precision engineers, maintaining a steady cash flow is a constant struggle. By utilising PSL Datatrack’s Cost Centres module, businesses can accurately manage their costs, providing the foundation for precise quotation calculations. This means works orders are raised at the correct price, resulting in flawless invoices that inspire confidence and lead to more predictable payments.
The module supports the tracking of these costs across different jobs, making it easier to understand where costs accumulate and where savings can be made.
Tackling Industry Pain Points
Subcontract precision engineering is an industry with many business challenges, including time constraints, complex job costing and the need for precise quotations. The Cost Centres module addresses these pain points head-on by providing a structured approach to managing costs and resources:
- Efficient scheduling through defined work patterns linked to cost centres, reducing downtime and maximising machine use
- Clear cost definitions that enable accurate, competitive quotations, driving sales while safeguarding profitability
- Accurate cost calculations that support better pricing strategies, ensuring expenses are covered and cash flow remains healthy
For subcontract precisions engineers, the PSL Datatrack Cost Centres module is more than just a tool – it’s a strategic asset. By addressing key challenges like time management, sales oversight and cashflow, it enables businesses to streamline their operations, enhance their profitability and stay competitive in a demanding industry.
Making the Cost Centres module one of the key building blocks of your business’s efficiency can significantly boost your operations and bottom line. What are you waiting for?
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