Product

Sustainability of Commodity Business

Commodity business is marked with steep velocity and the next decade will see a dire need amongst the organizations to develop the internal capability to understand and benchmark their performance in order to sustain the velocity and secure future business opportunities. To be successful in a competitive global marketplace, organizations need strong governance to execute. But without understanding your capability, how can you know how you are executing? Maturity development is a gradual process and iReg helps you understand:
  • How good are you at what you do in your business?
  • How good are you at what matters to your business?
  • How do you know?

Ramp up on the maturity curve for your commodity business with iReg. We have three packages for you

iReg Lite: This package is meant for small customers whose commodity business processes are driven in an ad hoc, uncontrolled and reactive manner by their employees or business events. The aim of iReg Lite is to make their basic processes repeatable with consistent results. It is the beginning of commodity management process discipline. Using iReg Lite they can manage their Customers, Sales Items, Sales Orders, Vendors, Purchase items, Purchase Orders, Goods Inward, Stores, Dispatch, Invoice, Payments, Accounts etc.
iReg Advanced: This package is meant for midsized customers whose commodity business processes are standard, defined and have improved over time. Their standard processes are in place and have established consistency of commodity business process performance in their organization. Using iReg Advanced they can manage processes enabled by iReg Lite and commodity production, Job Work, Inspection card & rejection tracking, Load Planning, Labor Management, Inquiry, Quotation, Tender, Corrective & Preventive Maintenance etc.
iReg Professional: This package is meant for larger customers who tend to use KPIs to effectively optimize their commodity business processes. Management monitor the KPIs that matters to their business, identify ways to optimize their commodity business process capability and the focus is on continually improving process performance through both incremental and innovative technological changes/improvements. Using iReg Professional they can manage commodity business processes enabled by iReg Advanced and Dashboards, Portfolio Management, Risk Management, New Product Development, Lab Management, ISO compliance, EXIM, Contract Management, Multi-currency support etc.

iReg for Commodity Businesses

iReg is built ground up to take care of the Commodity Production Management as well as its Distribution – after all your business growth depends upon how well you execute your orders in the Production unit and how seamlessly you manage your Distribution & Logistics.
  • iReg manages the Purchase-to-payment and Order-to-Bill business process end-to-end.
  • iReg standardizes the information that is being captured for your business.
  • iReg mitigate risks by eradicating ambiguity and helps to take a "right first time" approach.
  • iReg provides all aspects of your production, quality and compliance information in one single location.
  • iReg Reporting capability enables the business to make informed sourcing decisions and helps you to identify avoid waste and be on top of your operating cash cycle.

To achieve revenue growth and profitability, organizations must balance cost control and innovation with the need to win competitive advantage. Underutilization of resources, missed deadlines or product quality issues can result in missed opportunities and damage to brand reputation. Lack of focus on critical products can endanger customer satisfaction and weaken business in strategic accounts. No clear visibility into organization goals and the deviation undermine business decision making and planning.

Leading organizations recognize that mature business processes, superior service delivery and big picture visibility drive customer satisfaction top line growth and bottom line profit.

The iReg Advantage: iReg provides an automated, unified management control and visibility across critical functions in an organization including: Sales, Order Execution, Purchase and Quality.


iReg enables Organizations to



 

 

Define and track growth

iReg provide an ability so that the stake holders can identify the goals and objectives and set targets for the same. The system will keep comparing the targets and the actual data from various execution processes in the system. This provides real time and correct information to the business owners so that they can take timely and effective decisions.

 

Manage cost and profitability

Profitability is a result of correct estimation and execution as per plan. The system provides standardized process to estimate cost of a product and track the actual cost. Any cost variance may lead to margins getting low or lost opportunities.

Other factors that impact profitability are indirect expenses and deductions that are incurred in fulfilling an order. These expenses often go unnoticed and important data like Sales Cost, travel and petty expenses, penalties are not analyzed and it impacts the end result.

iReg gives you a platform to record estimated and actual cost and expense related data as and when incurred. This information is then analyzed so that you can work on improvements, if needed.

 

Improve operational efficiency

iReg will act as a planning and workflow tool for your organization. Managers will be able to plan the work, allocate people to tasks planned and approve or reject after the tasks are marked as complete. The system will send email reminders that will alert about pending tasks that have been planned for any individual. This ensures that the tasks are complete on time and with correctness, as desired.

Workflows are defined for order execution, quotations, Purchase, expense approval and other Business processes. This helps employees adopt a standard practice throughout the organization.

The system gives review section for executives so that they can view all tasks linked to quotation, order or otherwise and discuss the needful with the corresponding managers during review meetings.

Knowledge management within iReg allows collection of all meaningful discussion and important documents that are required for operations. This collection of database acts as a central repository, which otherwise are stored in emails and local machines, so that the employees can access the information as and when required.

 

Complete visibility into the business

With all data accumulating from various departments within the organization, there is a necessary that the information is summarized and rolled up into meaningful reports and charts. iReg presents this in a form of a dashboard. These can then be viewed by management and necessary actions may be taken.

 


 

iReg Advantage

iReg gives organizations control over the entire business. Every employee becomes part of the system. They understand what is expected out of them and how are they suppose to complete the work within Cost, time and with right quality.

iReg ‘s configurability and implementation methodology have been designed to ensure you achieve your goals and increase your organization’s performance quickly and cost-effectively to maximize ROI and minimize total cost of ownership. What more? iReg gives you an option to use the system on our SaaS platform so that you can start using the system from day 1.