“With over 100 years of collective experience developing cost and profitability models across a wide range of industries, 3C Software has the expertise to help companies solve the most complicated business analysis challenges.”
Today’s company CFOs want to understand the future before it happens. Whether it’s reacting to changing market conditions or deciding whether to acquire a company, there is an impact on costs and ultimately overall profits. 3C Software provides a perfect platform called “ImpactECS” that provides the ability to model any business scenario, making it possible to analyze an unlimited number of possibilities using the same logic and data.
3C Software was founded in 1989 in Atlanta, GA, USA, to provide cost accounting tools to manufacturing companies. Early industry adoption included textile, carpet and paper companies. Over the years, the product has evolved from a standalone desktop application for cost accountants into an enterprise solution used by accounting, finance, operations and executives to build, manage and simulate complex costing and profitability models and data. The combination of an enterprise-level solution with the flexibility to build any type of business model is a significant differentiator of the company’s product.
3C Software’s exposure to a wide range of industries helps it to develop best practices for business analytics. One of the biggest challenges that the company faces is combating the notion that “SAP does that”. At first glance, most assume that 3C Software offers a competing product to SAP for cost accounting. And while there is overlay for some of the capabilities it provides, ImpactECS truly leverages the transactional data available in SAP and other systems to create a robust cost and profitability environment that provides drill-down capabilities, scenario analysis tools, reporting functionality and more.
ImpactECS by 3C Software is a versatile modeling platform. Companies use ImpactECS to build sophisticated models for standard and actual costing, variance analysis, inventory valuation, forecasting and budgeting, rate building, quoting and estimating, post-production costing, profitability, scenario analysis and more. The ImpactECS platform has a toolbox of item types that make it possible to develop just about any business model. A Cost Object in a model represents anything that has a unique cost associated with it. Cost Objects have Local Factors, or attributes, that define the product or service. Calculations house the logic that calculates results. ImpactECS works with both internal and external Tables to access and store data. Finally, forms are used to build custom GUI interfaces to interact with the models. The platform design makes it possible for end users to build and maintain sophisticated models without the need for IT support. 3C Software offers implementation and support services as well as training.
The company offers solutions for three main industry groups – manufacturing, distribution, and services. Some of its key semiconductor customers include Analog Devices, Fairchild Semiconductor, and GlobalFoundries. Clients from other industries include Coca-Cola, Fruit of the Loom, Tyson Foods,MillerCoors, and Shaw.
Providing Customer Delight
3C Software worked with the single largest semiconductor manufacturer to deliver a fully-integrated Cost of Sales (COS) system for their core business. By using ImpactECS, the company was able to increase cost visibility and cost analysis while at the same time reduce overall close cycles. Some of the notable features include:
3C Software’s customers are located across the globe. With over 700 implementations in North America, South America, Europe, Asia and Australia, ImpactECS is one of the most widely used cost and profitability platforms on the market today.
The Road Ahead
The roadmap for 3C Software is consistent with the path it has already travelled. The company will continue to expand the capabilities of the ImpactECS platform, build deeper knowledge in its existing industries, and expand it to new industries. The financial services and healthcare markets are two targets of growth for 3C Software.
Knowing the Mastermind
Matthew Smith, President & CEO
Matthew has been with 3C Software since 1993 and has served as CEO since 2003. He is primarily responsible for setting the strategic direction of the company and is actively involved in sales and product development. He is a sought after speaker and has delivered presentations at a number of technology and business conferences over the years, sharing his knowledge and perspectives about the importance of effective cost and profitability management.
“ The costing and financial insight you gain with ImpactECS is the foundation for better business decisions that drive profitability.”