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Increase Production Visibility

Does your business operate within the manufacturing sector? In recent years, the industry has experienced rapid growth, with 2021 seeing global production increase by 9.4% to record highs across the world. However, this increase in demand is also seeing a significant increase in pressure for companies.

Consumers are now expecting high-quality products in the quickest time possible. This means manufacturers are having to maximize efficiency and quality while keeping costs down and improving profit margins.

Here at TriTech, we know how challenging this can be, which is why Spire’s Production Manager has been created to help you meet these demands. How can it help you, though? We thought we would take a closer look.

How Spire can help you

TriTech’s mission has always been to provide the most innovative business management software for our clients. For manufacturing companies, Spire systems can support you in an array of sectors, including:

Simplify your planning

One of the biggest challenges that manufacturers face is accurate production planning. Our unique system can help you to streamline your production through automation and accurately schedule any processes. This ensures that you are able to reduce your lead times and have complete peace of mind that your deliveries will be on time. Spire Production Manager is also able to be quickly adapted, offering custom production as required.

Control your inventory

Being able to understand your current inventory is essential for any successful manufacturing company. However, as you grow and demand increases, it becomes far more challenging to keep on top of this. Spire will help you to accurately track your inventory, allowing you to implement reorder points from sales and production.

Integrated accounting

Of course, it is not just about trying to better manage your inventory. Spire can help you with every aspect of your manufacturing business, including accounting. This is often one of the most time-consuming areas for any small and medium-sized business, which is why we offer complete integration with AP, AR, GL, and Account Reconciliation modules. This will help you to speed up the process, maximizing your efficiency.

Alongside this integration, we can also support you with an array of comprehensive information, including giving you complete access to your vendor history and information, ensuring your team always knows what is happening. To help ensure the smoothest process possible, you can also add purchase orders and sales to each specific job.

Improve your costing

Incorporating our system into your business will allow you to accurately track all purchases and labour costs alongside the raw materials you need. This will help you to accurately cost your manufacturing, helping you to increase your profitability. Our system will also allow you to create more accurate scrap and yield factors, ensuring you can enjoy higher profit margins.

Comprehensive insight

Finally, our Spire will provide you with comprehensive insight that will allow you to make better business decisions. You will be able to increase your production visibility, ensuring you can make far quicker decisions.

Alongside our real-time information, we also provide in-depth reporting tools allowing you to accurately monitor all key indicators.

Want to find out more?

Are you looking to find out more about Spire and our unique solutions? We have decades of combined experience in implementing powerful business management software for small and mid-sized businesses, ensuring we can always find the perfect solution for you.

We aim to provide you with the necessary tools to take your business to the next level, so get in touch today to find out more! Start your free trial today!

Budgets and Forecasts

How Traceability Can Support Canadian Manufacturers

In this fast-paced world, technology is continuously transforming how businesses operate. For manufacturers, it is not only helping to improve efficiency and maximize productivity but also enhances traceability.

How is technology improving traceability?

In the highly competitive world of manufacturing, organizations are under increasing pressure to keep up with the demands of consumers. Improved traceability is helping them to manage quality, identify areas of inefficiency, and reduce the risk of recalls.

Tracing is essential in helping manufacturers prevent contamination and ensure that materials are exactly what they claim to be. In certain sectors, such as pharmaceuticals and food and drink, traceability is also a legal requirement.

Investing in traceability software can help provide a wide range of benefits, including:

  • Supporting to meet all regulatory compliance
  • Help with product recalls
  • Improve efficiency
  • Provide insight to improve decision-making
  • Monitor stock and material levels
  • Build stronger relationships with suppliers

How Spire can help you

Here at TriTech, we know how important tracking software and traceability are to your manufacturing business. That is why we are a proud reseller of a comprehensive software called Spire that is designed to help you transform your operations.

If you are struggling with quickly checking product information, are still manually checking inventory, or cannot track products from the manufacturer to customer, then we are here to help you. Spire’s Lot Tracing will help to give your business the edge over your competitors, helping you to:

  • Make recalls quick and efficiently
  • Comprehensively track product information, ensuring expiry dates are no longer a concern
  • Improve your communication with both suppliers and customers
  • Boost your productivity by removing manual batch tracking
  • Save time, effort and money.

Want to find out more about our inventory management and lot tracking software? Check out our service page or sign up for your free demo today!

Spire Update: 3.8

The Top Three Pains That Your Current Accounting Software Is Causing Your Business

There can be no denying that technology has transformed the world we live in. From effortlessly communicating with clients to automating time-consuming tasks, businesses have never been more efficient. However, when it comes to accounting software, certain options on the market are still lacking in certain areas.

Three of the most common pain points that finance teams find include:

Tracking inventory

One of the most common areas that frustrate businesses is the inability to clearly track their inventory. Accounting software often lacks the ability to clearly record serial numbers, lot number tracking and knowing when you need to reorder more inventory. A very common issue that arises with businesses looking for new software, is the cost of over-stocking warehouses with inventory they do not need.

Real-time data

While technology has helped to automate many aspects of our work, a lack of real-time and up-to-date data can be a major pain point when it comes to finding the right accounting software for your business.

User accountability and permissions

In this fast-paced world, teams are often changing, and remote working is only serving to make things more challenging. A lack of ability to assign permissions or track accountability will only make things more complex.

Solution

At TriTech, we know how frustrating these software pains can be. That is why we are a proud reseller of Spire; a unique software designed to help you transform your operations. The business management and accounting software is every controller’s dream.  It automates accounting processes with greater accuracy and efficiency, tracking your business performance in real-time so you can always see the latest information at the touch of a button.

Spire also gives complete control of your inventory, helping you to have a clear overview. You will have the ability to:

  1. See how much inventory is in stock at any given time.
  2. Create automated purchase orders from within your reorder points.
  3. Track a lot number or serial number within seconds.

With this information, you can cut costs and improve your profit margins and always be informed on how your business is running. Alongside supporting you with increasing your profits, Spire also offers complete accountability for users and differing permissions, helping you to eliminate manual workflows and bring in new employees with ease.

Don’t have the infrastructure to run a full accounting system? Ask us about the option to host your Spire data on the cloud.

Watch this video on how lot tracing works in Spire:

Want to find out more? Get in touch today!

How to Manage Accounts Receivable with Spire

<Video Tutorial>

Spire: Year End

What does a Year End look like in Spire?

Spire carries three open years at any given time:

  1. Last Year
  2. This Year
  3. Next Year

It is recommended to work within the “This Year” period, so that you have the ability to back date and post date transactions one year back or one year forward.  Once you have completed all of your transactions within a given year, you can close that year.  

TIP: If you wait until close to the end of “Next Year” to close “Last Year”, it will give the easiest access to past years transactions.  Once the end of “Next Year” comes, you will not be able to post until you perform the year end procedure on “Last Year” period.

When a year end is performed, it will move all GL transactions to the historical GL tables and will move the year forward; it will also reset the sales and purchase history year-to-date amounts in customers, vendors and inventory.

How to do a Year End in Spire:

  1. Backup database
  2. Make sure all journal entries necessary to close the year are completed.
    1. Examples: amortizations, dividends etc.
  3. Verify that the retained earnings account in company setup is configured correctly.
  4. Run year end reports including trial balances, income statements and balance sheets.
  5. User must have permission to run a year end.
  6. Log into the last day of “Last Year”. If you use the wrong date, you will get an error message.
  7. A pop-up will come up asking you to verify that you have completed steps 1-5.
  8. Then click “Proceed”. 
    1. TIP: if this button is grayed out, it means you have not ticked all boxes in step 7.
  9. All done!

Still need some help? No problem! Just email support@tri-tech.com and we would be happy to help!

Grow your Business with Integrated Business Management Software

The rapid pace of growth at many small and mid-sized businesses often leaves no time to consider how various software packages are supposed to work together. New software is added as needed, most of the time from entirely different vendors. Unfortunately, this siloed approach to software setup can lead to a lot of headaches down the road, including higher costs, lost productivity, and less insight into how well a business is actually performing.

The challenges of a siloed software system

The problem is that many small and mid-sized companies naturally revert to a collection of different software packages. They typically start out with basic accounting software, and then decide to add advanced software, such as inventory management or sales management software, on an as-needed approach.

This approach might work in the short-term, but over the longer term, this very inefficient silo architecture (in which the different software packages have a hard time integrating with each other) leads to a number of challenges, including wasted employee productivity, lack of real-time visibility into operating results, and extra costs (both in terms of time and financial resources) due to the need for integration.

Advantages of using an integrated business management software system

Now contrast this approach to that of an integrated business management software system, such as Spire. With an integrated system, you are able to streamline operations because all the various functionality is designed to work together. Instead of buying software on an a-la-carte basis, you are buying one integrated system that works great from the very start. As small and mid-sized firms are finding out, there are two big advantages of using an integrated business management software system.

First and most importantly, an integrated system enables much greater automation of routine business processes, everything from order management and fulfillment, to invoicing and expense approval. Data and information from one business function (such as sales management) can be very easily combined with data and information from another business function (such as inventory control). This makes things much easier for the team in accounting, which doesn’t have to worry about tracking down data across multiple software databases.

Secondly, an integrated software system improves visibility into the real-time operation of your business. In today’s real-time business environment, customers expect to know the current status of an order immediately, and members of the management team often want to put together reports on the fly. If you are using a siloed approach, this is almost impossible. But with an integrated system, you can quickly gain access to any key numbers or data that you need.

Grow your business with TriTech

At the end of the day, opting for an integrated business management software system like Spire is all about preparing your business for the next cycle of growth. Being able to manage business processes more efficiently can lead to lower costs, higher revenue and greater overall profitability.

Contact us today and ask how we can help you grow your business.

Protecting your small business from fraud

For many small business owners, fraud has become an increasingly important issue, from both a risk management and legal perspective. By failing to take the right steps to secure your business from both internal and external threats, small business owners could be exposing themselves to both financial and legal risk.

Internal Threats

Although it can be hard to imagine, there are plenty of ways that your own employees can commit fraud without you even realizing it. One of the most popular ways is by padding employee expense reports. A lack of receipts accompanying an expense report could be a red flag that costs have been artificially inflated, with employees pocketing the difference between the real costs and the reported costs. As a result, be sure to put into place a way to monitor employee expense reports.

The same logic applies to vendor invoices. Business fraud experts warn that some employees may collude with vendors to submit falsified invoices in the hopes of splitting any profits from paid invoices. And some employees might take this type of fraud a step further by completely making up a “false vendor” and making sure that any vendor payments go to bank accounts that they control.

It is important to set apart your employee’s duties.  As an example, the person responsible for collecting cash, should not also be responsible for reconciling the receipts.  As a business owner, your accounting software should make it easy for you to spot check your accounting processes.  Spire allows you to do this by running a quick report, or by instantly viewing your entire GL at a glance.

External Threats

With the fastest-growing type of external threat being ransomware, it is important to secure your IT infrastructure. In the classic ransomware attack, an email sent to employees at your business will encourage them to open up an attachment or click on a malicious link. Once the link is opened, malware will get installed on the computer and spread to the network and the company will receive a ransom letter demanding that a payment be made or the data will be deleted forever.

Many of the most common fraud threats can be avoided with these steps:

  1. To prevent phishing attacks, employees should be told to check the source of incoming emails to make sure they are legitimate. That’s because many hackers try to “spoof” the name or identity of a legitimate business in order to get people to open their emails.
  2. Make sure all of your computers are up to date with the latest version of the operating software.
  3. Use reliable antivirus products
  4. Make sure all passwords are at least 15 characters using numbers, upper and lower case letters and symbols.
  5. Clear internet temp files on a regular basis.
  6. If you are connecting through an RDP connection, make sure it is through a gateway.

Despite all precautions, nothing is guaranteed.  It is best to be prepared by having automated backup in place so that you can essentially “reboot” your system from data stored in a third-party location.

If you have been an unfortunate victim of fraud, it needs to be reported.  To find out how, please visit the Canadian Office of Consumer Affairs.  For help in recovering your data, the Tri Tech service department can do their best to assist you.