The Massachusetts Manufacturing Extension Partnership has introduced a new software tool to let private manufacturing companies assess their assets and plan improvements.
The software, developed by Corporate Value Metrics with MassMEP, NorthStar Management Partners and Metro West Business Advisors, offers a methodical process for identifying risks and determining the most cost-effective areas for mitigation. Areas the software can help analyze include quality and risk profiles, a comparison of equity to debt levels and existing business values.
Jack Healy, director of operations at MassMEP, which is based in Worcester, said the process is expected to increase the value of participating companies by 20 to 40 percent.
The process, facilitated by one of the collaborating firms, takes about a week. State funding can help pay the costs for some companies.