Boosting Sales and Cash Flow: Latest PSL Datatrack Version Designed to Save Time
Estimated reading time 4 minutes
In an ever-changing manufacturing industry, three prevalent pain points among subcontract precision engineers are a constant lack of time, management of sales and maintenance of a steady cash flow. The latest version of PSL Datatrack focuses heavily on tackling these challenges.
PSL Datatrack is a flexible, modular production control software system designed for subcontract precision engineers. Its Quotations module is often described as the software equivalent of setting a machine tool and is where the system starts.
Utilisation of PSL Datatrack means users no longer need to manually calculate costs or consult various Excel spreadsheets or Word documents. Accurate quotations are instead generated, aided by automatic calculations, quote templates and/or historical data. With faster and more accurate quotations, subcontractors can respond to customer enquiries quickly, reducing the time spent on administration.
The latest version of PSL Datatrack enables users to manage and report on a sales pipeline to provide a forecast for quotations that they believe will be successful. This information can also be displayed on Status Boards, visual display screens that can be set up anywhere around a factory. Status Boards are becoming ever more popular in sales offices to show figures including actual sales versus projections and targets.
PSL Datatrack also helps to automate the production planning process by optimising resource allocation, prioritising works orders and creating efficient production schedules. Implementation of the system’s Sequential Scheduler module eliminates the need for manual planning methods, such as ticketing systems, reducing the time and effort taken to create and amend production plans.
A recent Sequential Scheduler enhancement allows machine setters to be classed as resources, meaning the order of work through the machine shop can now be more efficiently managed. Shop floor staff have an even clearer plan of their workload and upcoming jobs.
PSL Datatrack also provides real-time visibility into the status of customer orders. Subcontractors can track the progress of each works order from initial confirmation to production and delivery and the system can now be configured to include or exclude pending works orders from being acknowledged.
This development ties in with the software’s newest module, Contract Review, which ensures that all required contract review elements, in line with the user’s quality manual, have been checked and approved for a specific job or project.
Live order tracking provides clear transparency whilst building trust and enhancing customer satisfaction. It also minimises queries and customer service requests, freeing up time for the sales team to focus on new leads and opportunities.
The PSL Datatrack system contains vast reporting capabilities, many of which deliver insights into sales performance. Users can analyse sales data, identify trends and evaluate the effectiveness of their sales strategies. These insights enable them to refine their sales approaches, focus on high-value opportunities and allocate resources effectively. PSL Datatrack can develop bespoke reports to support data-driven decision making, helping subcontractors optimise their sales efforts and achieve greater results.
With cash flow in mind, traceability of raw materials and finished components is key. By optimising stock levels and avoiding overstocking, subcontractors can reduce carrying costs and associated financial risks.
Recent improvements to PSL Datatrack’s Material and Component Stocks modules means editing of ‘in stock’ transactions and quantities can now be limited to authorised users. This reduces the risk of staff error and provides a more accurate representation of inventory levels.
Effective inventory management ensures that users have the necessary materials to complete works orders without incurring unnecessary expenses or delays. This, in turn, supports a smoother cash flow by minimising excess inventory costs and avoiding missed opportunities due to stock shortages.
All of this new PSL Datatrack functionality, coupled with the system’s existing capabilities, enables users to focus more on core activities in today’s fast-paced business landscape, maintaining a competitive edge that is crucial for both current and long-term success.
“We know the subcontract precision engineering industry and understand the needs and requirements of our customers. The latest version of PSL Datatrack production control software further empowers them to reduce time spent on administration, improve their sales processes and protect their cash flow,” concludes Geoff Gartland, Managing Director.