What is IQMS?
Industry Specialties: Serves Manufacturing Industries
Benefits and Insights
Key differentiators & advantages of IQMS
- Real-Time Insights: IQMS ERP uses real-time data to develop actionable insights quickly and efficiently. For example, the system uses current inventory and supply chain information to establish production schedules and adjust to fluctuating customer demand.
- Customer Communication: The customer relationship management tool tracks customer histories, from communication with employees to past sales activity. By having this information in a centralized location, staff can more accurately target sales activities and offer customers a more personalized and beneficial purchase experience.
- Automated Processes: IQMS ERP contains a range of automated workflows. One example of how it works in the system is through the automatic input of payables to the general ledger. With this functionality, the financial management or accounting team can be freed up to work on other important tasks rather than manually inputting data to the GL.
- Increased Productivity: The program can increase employee productivity through the automation of tasks. It can also improve the effectiveness of workflows through its demand planning capability, which can decrease inventory.
- Boosted Revenue: The scheduling and forecasting tools can effectively anticipate customer needs and therefore reduce the amount of spoilage in a production facility. The system can ensure that on-hand materials and products are used effectively and that products aren’t over-ordered per anticipated demand levels. This maximizes the ROI for every aspect of the warehouse.
This system serves a variety of companies that have intense manufacturing needs and require a system that integrates front- and back-office processes. Some of the industries that the tool contains specific functionality for include manufacturing, automotive, medical, aerospace, defense, assembly, food/beverage, plastics, packaging, stamping and metals.
- Supply Chain Management: The supply chain management feature allows users to monitor and optimize production operations. It contains features such as demand planning, order management and inventory management that aim to improve productivity. The forecasting tool uses inputted goals and real-time purchase events to develop an optimal schedule that meets customer demand and business objectives. The system also contains access to warranty information, shipping and billing history, eKanban control support, lot number tracking and serialized inventory control.
- Customer Relationship Management: IQMS ERP enables users to develop beneficial customer and supplier relationships. It contains a single system where customer, partner and vendor interaction details are maintained, reducing the entry of redundant information and centralizing operations. The system also allows users to look at sales, purchase, support and shipping history to better tailor external interactions and tracks sales opportunities and marketing campaigns to measure effectiveness.
- Estimating and Quoting: This feature analyzes aspects such as labor, material, overhead and commission costs to aid in the development of revenue-generating sales quotes. The program includes an RFQ log that lets employees manage quotes online. Flexible commission capability is also a part of the program and allows for rates to be altered based on factors such as the product sold or the salesperson making the deal. Quotes can be sent to customers via email, fax, printer or web.
- Finance and Accounting: The financial management tool is integrated with IQMS ERP features such as manufacturing, forecasting and quoting to help users see how and where money is spent. It also uses business intelligence to help identify workflows and processes that aren’t profitable so that revenue can be maximized. The system contains financial and management reports that are customizable based on unique needs. Cash flow is also streamlined through the program’s invoicing system.
- Sales Order Management: IQMS ERP can instantly convert sales quotes to sales orders, whether they are entered internally or externally. The system contains Available-to-Promise (ATP) and Capable-to-Promise (CTP) functionality, which looks at both open orders and inventory when creating work orders so that only parts that are needed are produced. Pull down menus and previous order history are included to make order entry easier.
- Accounts Receivable and Payable: The accounts receivable functionality in this system manages records such as invoicing, cash receipts, customer maintenance and account status. The invoicing tool can generate invoices from previously un-invoiced shipments, VMI Shipments, Partially Invoiced Orders and other miscellaneous items. The accounts payable system contains vendor payments and invoices, provides payment history and invoice information, and prints checks. Payables can be automatically posted to the general ledger after they are processed through this program.
- Capacity Planning: This feature includes material requirements planning, labor capacity planning, auxiliary equipment planning, rough cut capacity planning and machine and work center capacity planning. This consists of specific functionality such as automated raw material ordering, min/max planning and available labor calculation by category and qualifications. The system also allows users to check the availability of auxiliary equipment and measures machine availability.
- Planning and Scheduling: IQMS ERP uses integrated real-time data from the supply chain and other business facets to develop optimal schedules that effectively meet customer demand. The tool contains a “what if” capability that determines the amount of raw materials, time and purchased parts needed to complete all required orders. It uses a connection with order entry and sales modules to develop scheduling forecasts. It also includes an advanced planning and scheduling system that can adjust to fluctuations in demand and other events in real-time.
- High initial cost for smaller companies, plus additional cost for annual support, maintenance and training support
- Annual maintenance contract percentage does not remain constant from the year of implementation
- Comparatively complex system and requires intensive training support
- Payroll setup is difficult to implement and maintain
- Difficult to manage and administer the security inspector module
- Does not support multi-currency feature when setting up PO approval limits such as USD vs. Mexican Peso
- Does not support files in the Spanish language
- Does not connect work orders to sales orders
IQMS ERP Suite Support
Cost of Ownership for IQMS EnterpriseIQ Manufacturing ERP
|Customization Cost||For both on-premise and cloud-based/SaaS solutions, the cost will vary depending on the module added in the existing plan such as warehouse management system, general ledger, accounts payable, accounts receivable and payroll|
|Data Migration Cost/Change Management/Upfront Switching Cost||For both on-premise and cloud-based/SaaS solutions, the cost will vary depending on the amount of data to be migrated, whether there is a need to extract data from an old system, availability of migration tools, the complexity of data and gaps between the existing system and the new system|
|Recurring/Renewal Costs||For both types of deployment, the cost will be based on the number of user licenses purchased, additional USLs purchased, additional modules purchased, annual support and maintenance contract, IQMS training and premium support services opted for|