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Profit and Loss

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Riordan Manufacturing is an organizations that operating with incompatible accounting program. Each facility may operate on its own well, the financial data supplied to the corporate office comes in many different forms from hard copies to spreadsheets. This has led to countless man hours that being lost while data is input at one operation and then manually transferred to another system, when it arrives at its destination. Corporate Accounting must then assemble its financial statements and budgets based on data information.
The system overhaul needed the ERP (Enterprise Recovery Program) system. It insures that the purchase new system for Riordan will have application source code rights to customize software to their growing needs. This wills improved Riordan Manufacturing flows of financial information throughout the corporation Riordan will again benefit substantially improve its Financial & Accounting systems with an implementation of the recommended ERP system, NetSuite®. NetSuite® ERP system contains a complete financial and accounting system, including general ledger, financial reports, accounts receivable and payables, and budgeting. This system will dramatically enhance the data flow between facilities and into the corporate office producing real-time financial information. An ERP system that will connect the Finance and Accounting information with all the other departments will only strengthen Riordan going forward. While the initial costs of bringing all facilities into compliance will be rather expensive. The upgrades will pay for themselves within a few years in time and money that saved by eliminating unnecessary duplication of work. Additionally, the NetSuite® website (2011) declares, “NetSuite Financials provides comprehensive, proven financial/ERP capabilities that integrate with your broader back-office, sales and service processes.”

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