in The Forrester Wave™: Digital Operations Platforms For Manufacturing Businesses, Q3 2020.
With real-time, automated reporting delivered through flexible, comprehensive, and auditable accounting controls.
Bring your business functions together into a centralized management system with real-time, unmatched financial visibility and control.
lex empowers you to gain complete insight into your revenues and take action on expenses, profits, shipments, payables, receivables, and relevant trends. Easily communicate results across teams with built-in dashboards, self-service queries, and a library of metrics and KPIs.
You can perform ad hoc analysis on enterprise-wide financial data, across multiple manufacturing locations, without any programming knowledge. Generate standard or customized versions of financial reports, including balance sheets, income statements, and cash flow, and have a comprehensive audit trail to support your compliance efforts.
Use system-defined cost drivers or user-defined values to determine allocation percentages and create automated allocation journal entries. Manage a full order-to-cash cycle with customer invoices as well as a full procure-to-pay cycle with supplier invoices, including deposits and payments based in multiple currencies.
Consolidate business functions to simplify transaction management. Process core accounting journal entries, automated reversal entries, and recurring transactions using built-in or third-party (Avalara) sales tax computation, reporting, and analysis.
Plex provides a range of advanced accounting based on your business needs. For example, you can make tax-exempt purchases, depending on whether you buy inventory, supplies, services, and more. Automatically calculate sales and use taxes based on ship-from and ship-to addresses and accrue use tax liabilities. Set up or upload monthly and annual budgets for revenue and expense accounts and report on performance and variances.
With Plex, you can also balance all accounting transactions posted to cash accounts against bank statements in real time while maintaining a running balance total. You can also reconcile each account as well as foreign currency transactions and automatically create foreign exchange adjustment transactions when needed.
"We needed to do this right. We went through two iterations on a system that would help us with inventory—and they were expensive—so we didn’t want to go down that road again and not be happy with it in two years. Plex kept rising to the top because it is 100% cloudbased and it fit our needs as a food and beverage manufacturer."
CEO, Hausbeck Pickle CompanyLearn More
"Plex’s whole vision of getting people away from just standing at a screen all day aligns perfectly with our desire to have more interactive processes on our shop floor. We’re glad we partnered with a software vendor that’s always developing the breakthrough technologies we’ll need next."
President, Horizon TechnologyLearn More
"Plex clearly spoke the language and understood the issues of a company that works in the automotive industry. We have to meet a lot of requirements for our automotive clients, and we knew the Plex Manufacturing Cloud would make it easier to track compliance."
Purchasing Manager, Argent InternationalLearn More