Regulatory and industry compliance is a fact of life in almost every business, but manufacturers must deal with a heavy compliance workload. The National Association of Manufacturers (NAM) estimates that the manufacturing industry faces an astonishing 300,000 federal and industry compliance regulations and restrictions. Deploying a modern Enterprise Resource Planning (ERP) software can help with this burden. Acumatica’s Manufacturing Management, in addition to offering a range of manufacturing operations functionality, simplifies compliance with regulations in six key areas the global supply chain faces.
Business and finance
Because business and financial compliance varies by country, an ERP system should support International Financial Reporting Standards (IFRS), along with Generally Accepted Accounting Principles (GAAP). This keeps businesses in compliance with accounting rules and tax laws in multiple geographies. Acumatica’s Manufacturing Management module supports both standards through Tax Management, which is powered by Avalara. The system further supports most global taxing scenarios, offering localization for many international markets.
Information Technology
Data security and information regulations vary across industries and countries. In the EU, for example, companies face strict regulations about customer and employee data privacy. Acumatica helps businesses comply with regulations for general data security across industries and localized requirements, depending on the country. To that end, Acumatica and Amazon Web Services (AWS), which hosts Acumatica SaaS, are ISO 27001 accredited. Both platforms provide multiple levels of security, facilitating compliance with FEDRAMP, FIPS 140-2, CSA, CAN-SPAM, GDPR and other data security regulations.
Industry Regulations
ISO accreditation isn’t mandatory, but as the leading authority for quality standards, the accreditation gives manufacturers a competitive advantage. Acumatica provides a framework that supports many industry regulations, including ISO, the Automotive Industry Action Group (AIAG), the American National Standards Institute (ANSI), the American Society for Testing and Materials (ASTM), the Society of Automotive Engineers (SAE) and more. The framework offers embedded wikis for documentation, defined workflows and the ability to monitor results with real-time dashboards. Special features are also available for highly-regulated industries.
Trading Partner Compliance
Standard trading partner agreements commonly include quality and compliance restrictions for distributors and manufacturers. They cover anything from invoicing to label specifications. Acumatica enables smooth, compliant partner trading by managing multiple Electronic Data Interchange (EDI) applications for inbound and outbound documentation transmission between customers and vendors.
Labor Laws
Acumatica’s Manufacturing Management module supports the management of safety regulations put forth by the US Occupational Safety and Health Administration (OSHA), the Fair Labor Standards Act, workers’ compensation, Family and Medical Leave Act (FMLA) and trade union requirements. Acumatica’s Human Capital Management (HCM) applications can help manage skills, certifications and training requirements by managing employee records. The system provides complete employee confidentiality as required by the Health Insurance Portability and Accountability Act (HIPAA).
While trying to comply in all six of these areas can be a challenge, manufacturers and distributors can benefit from the simplicity that Acumatica’s solutions and modules provide—not only to comply with laws and industry regulations, but for general day-to-day management of operations.
LEARN MORE IN OUR GUIDE: SIMPLIFY COMPLIANCE WITH QUALITY MANAGEMENT ERP SOFTWARE
Discover how wholesale distributors and manufacturers manage quality and compliance with connected ERP and QMS applications to save time, money, and aggravation.
Quality compliance regulations may be there for a good reason—but they make daily tasks much more complicated and costly for wholesale distributors and manufacturers. So don’t go it alone. Instead, find a quality management ERP application to streamline quality and compliance initiatives.
Acumatica partnered with eWorkplace Apps to develop the connected ERP and QMS platform you need to manage your business. Find out more about it in this solution brief. You’ll find out how to:
- Streamline everyday tasks across six regulation categories
- Connect your quality data and processes for greater efficiency.
- Exceed quality management requirements using nine key features.
- Follow a four-step plan for improved compliance.
- Guide your quality system implementation through four simple phases.
In this guide, you’ll get the information you need to decide whether it’s time for your organization to reap the benefits of a cloud quality management ERP solution.