NeoMetrics, Inc. specializes in quality manufacturing of wire-based products and components to the medical device industry. They also offer a complete line of specialty access guidewires for PICC (Peripherally Inserted Central Catheter) line placement and micro access techniques. NeoMetrics, Inc. has 64 full-time employees and works three shifts, five days a week around the clock. They have a production area of more than 10,000 feet located in Plymouth, MN.
Prior to purchasing Microsoft Dynamics GP, NeoMetrics’ accounting and financial reporting was done manually. They knew that if they were to meet growth goals that they needed to automate and integrate all aspects of their business.
Integration Benefits the Entire Company
According to Dave Liebl, Vice President of Research and Development, for NeoMetrics, “Prior to purchasing Microsoft Dynamics GP, we were using QuickBooks and were experiencing operational inefficiencies. It would take at least an hour to respond to customer inquiries about order delivery and an inordinate amount of time to close the month. We did not have accurate margins, would run out of materials, were experiencing errors, and did not have a good way to track inventory. We knew that if we were to grow our business, integration was necessary.”
Improved Manufacturing Processes
In 2005, NeoMetrics teamed up with Microsoft Dynamics reselling partner, OTT, Inc., to find a solution that would align with their operational needs. “We chose Microsoft Dynamics GP because it offered visibility of manufacturing orders, sales orders, purchase orders, inventory levels, and financial results. Microsoft Dynamics GP allows us to quickly and easily view all aspects of our business and service is much better for our customers. We’ve added new products and are doing three times the level of business that we did before the implementation. We could not have done this with our previous system.” says Liebl.
Readily Available Data
The available data benefits the entire company. “The software has helped us improve productivity and efficiency because it enables us to get information out of the system when we need it,” says Karl Fox, Vice President of Operations. “We’re able to better serve our customers, and it helps us identify possible bottlenecks before they happen.”
Decreased Time and Errors NeoMetric’s Microsoft Dynamics GP systems enable the company to save time and benefit from reduced data-entry errors. “It cuts down on entry errors and the amount of time and money spent on capturing and analyzing information. The solution has helped us avoid errors and reduce the time it takes for month-end and year-end closing by as much as 50 percent. Everyone across the organization has access to inventory and sales information, helping us make better, faster business decisions,” said Fox.
Return on Investment
“Microsoft Dynamics GP is an integral part of our business. Not only are we more efficient, but we have experienced a 250 percent jump in revenue growth in just one year,” explained Liebl. “Thank you GP and OTT, Inc.!”
Benefits and Results
NeoMetrics has significantly reduced the amount of time it takes to prepare financials, service customers and reconcile errors. What would have previously taken 30 hours now takes only 15 hours. They have experienced a 250 percent jump in revenue during the past year.