Lilly Software Announces Release of VISUAL Enterprise™ 6.4
Hampton, NH (USA), October 12, 2004 — Lilly Software Associates, Inc., a leading provider of enterprise and supply chain solutions for manufacturers and distributors, today announced the release of VISUAL Enterprise™ 6.4. This version of the company’s industry leading end-to-end solution provides a considerable number of new and enhanced features designed to address the specific concerns of aerospace and defense (A&D) and project-based organizations.
“VISUAL Enterprise 6.4 is further evidence of our commitment to provide our customers with the technology and tools they need to gain a competitive advantage in their industries,” said David Bennett, Vice President, Product Management, Lilly Software. “Lilly Software understands the unique challenges that A&D and project-based manufacturers face: supplier/subcontractor management, lengthy lead times, complex project accounting requirements, contract change orders, product configuration and document management, to name a few. This powerful new release addresses those challenges and many more.”
For instance, VISUAL Enterprise 6.4 adds new functionality that helps our customers easily maintain project and contract information, allowing them to establish a baseline for business planning and performance measurement. Further enhancements provide for the full integration of projects and contracts with customer orders, allowing users to maintain multiple projects for a single customer order and/or multiple customer orders for a single project. With version 6.4, users can measure profitability, sales, and cost by project, groups of projects, or business lines.
The system now integrates project billing, invoicing and receivables, allowing customers to link an invoice to a project and customer order line, manage receivables by project or contract, trigger project billing events for invoicing, and more. Customers can recognize and maintain project revenues and cost of goods sold, integrating the management, control, and processing of their project/contract revenue accounting. With VISUAL Enterprise 6.4, users have better tools for managing progress and milestone billing and invoicing and can now also perform percentage of completion (POC) revenue recognition.
Another major enhancement of VISUAL Enterprise 6.4 is the integration of the management, control, and processing of updates to formal estimates to completion, including tracking of project management reserves. This allows program managers to continually maintain estimates to complete, and introduce a process to update the formal EAC that will be used to support billing and revenue recognition.
“Lilly Software has built a reputation for helping its customers handle complex manufacturing execution requirements in a variety of vertical industries. To that end, we are very excited about the release of VISUAL Enterprise 6.4 and what it will mean for our A&D and project-based customers,” said Scott Rich, Vice President, Sales & Marketing, Lilly Software. “This new version contains a host of tools that will help our customers optimize their business processes and streamline workflow for heightened productivity and profitability.”
While most of the new features in VISUAL Enterprise 6.4 directly benefit A&D and project-based customers, the solution’s new Workflow feature is beneficial to manufacturers in a wide variety of vertical markets.
“With VISUAL Enterprise 6.4, users can now create workflows that define the way they do business, establishing a repeatable process for sales orders, purchase orders, manufacturing work orders and more. Visibility to where these documents are in the process flow allows users to readily identify bottlenecks and escalate any issues to management before they become real problems,” said Bennett. “This powerful new tool allows users to automate the flow of information in business processes through integration of company policies and procedures according to predefined conditions or rules. Workflow significantly enhances communication within and across departments and improves company-wide processes.”
About Lilly Software Associates
Lilly Software Associates, Inc. provides a complete line of enterprise and
supply chain solutions for manufacturers and distributors. The VISUAL
Enterprise™ suite of products helps companies capture and analyze real-time data
about all their business processes using ERP, Project Management, Business
Performance Management, Quality Management, Customer Relationship Management,
and Warehouse Management System capabilities. From award-winning software to
strategies in Lean Manufacturing and TOC, Lilly Software offers companies the
tools they need for higher productivity and profitability.
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Most VISUAL® applications run on Windows® 98, Windows NT,
Windows 2000, Windows XP, UNIX®, LINUX, Novell®, using
SQLBase®, Microsoft SQL Server®, or ORACLE®
Lilly Software has received many industry awards for its products, service, and
financial growth since its inception. Most recently, the company has been voted
one of the Top 10 Best of Breed solutions for manufacturing by readers of
Consumer Goods Technology, listed in
Software Magazine's Top 500,
selected as a Top 100 Logistics Information Technology Provider in
Inbound Logistics, listed in the Top
100 Application Vendors in Supply Chain
e-Business, included in MSI's
Top 100 for its eighth year, and ranked as one of
Start magazine's Hottest Companies.