What it Is
Financials Business is a comprehensive, global financial management system that includes general ledger, accounts payable, accounts receivable, financial reporting, and operational reporting and analysis. It also handles fixed assets, allocations, budget management, and related business functions required by finance organizations. Built on open architecture, Financials Business integrates easily with other enterprise business systems.
With more than 20 years of experience built in, Financials Business has helped thousands of businesses solve the problems they face every day. Infor's unmatched support and industry-specific expertise can make the difference for global organizations that want to stay on top of local jurisdictional reporting and taxation requirements while reducing risk, lowering costs, and reaching top financial performance.
What it Does
The unified ledger lies at the heart of Financials Business. Combining the functions of a general ledger, sales and purchase ledger, project ledger, cashbook, and user-defined ledgers, our unified ledger immediately shows the full impact of any financial posting, giving companies a clear view into their business.
Financials Business gives global firms unparalleled visibility into financial activities at international sites and operations. The Financials Business Global Essentials provide companies with all the tools they need to standardize financial management and adjust accounting structures. For instance, Financials Business supports multiple, parallel accounting methods and four transactional currency dimensions.
In addition, Financials Business provides complete interoperability to seamlessly bridge the gap between financial and operational systems. It's also flexible enough to address the constant but unavoidable changes that pop up when companies try to take advantage of new business opportunities. Financials Business provides a complete, real-time view of all the moving parts that make a business tick, making it easier to turn financial information into profitable action.
In addition, Financials Business covers:
- Procurement - This web-based, end-to-end procure-to-pay application supports centralized and decentralized purchasing, covering purchase requisitions, orders, contracts, receipts, and invoice processing and reconciliation. Procurement frees purchasing professionals from labor-intensive administration and processing, allowing them to focus on purchasing strategy and supplier management. At the same time, the solution empowers staff by permitting them to manage their own purchasing requirements within the rules and policies defined for their organization.
- Collect - This debtor management system thoroughly analyzes debtor days and cash flow, quickly identifies offending debtors, and tracks collection quickly and easily. By streamlining collection activity through improved task management and automation, the system ensures delivery of relevant information when and where it's needed-resulting in efficient processing and fewer debtor days.
- Infor Expense Management - As organizations look for ways to cut costs and increase profitability in today's economy, many overlook one of their largest expenditures: employee spending. Whether employees are planning and booking business travel, submitting expense reports for reimbursement, or purchasing an item, they can play an active role in significantly controlling costs.
- PSA (Professional Services Automation) - A comprehensive and collaborative approach to managing internal workforce and external client projects, PSA facilitates efficient delivery of services. By adopting PSA, companies can effectively schedule the right resources, accurately record time and expenses, and ensure accurate, timely billing and recovery. PSA allows revenue recognition based on predefined rules, and makes it possible to accurately measure the financial performance of both projects and people.
- B4B- An easy-to-use, sophisticated payment management tool designed for today's global banking requirements, B4B links companies' Financials Business payables modules to their banks for electronic funds transfers (EFT) and Internet banking. With B4B, companies can easily handle the complexities associated with international EFT.
- Performance management - Financials Business' dashboards, scorecards, and other reports simplify budgeting, forecasting, and other financial planning processes. The system generates, manages, and delivers critical business information to any number of business users across the enterprise. It also delivers both financial and operational key performance indicators to managers at every level.
Plus, you'll get to the information you need more quickly and easily with Infor10 Workspace. Workspace provides for unified navigation and single-click access to your Infor systems, personalization, web parts, and shortcuts. You'll have everything you need to work on what matters, in a way that makes sense to you, so you can simplify your work day.
The Financials Business Difference
Unlike other financial management systems, Financials Business uniquely offers:
- A unified ledger that combines the functions of a general ledger, sales and purchase ledger, project ledger, cashbook, and user-defined ledgers-showing the immediate impact of any financial posting.
- Smart transactions that deliver not just information, but detailed user-defined context.
- A full gamut of global essentials-such as multi-language, multi-currency, and multi-calendar-which provide companies with a solid international foundation, and get them up and running quickly in new markets.
- Open architecture that supports integration with other enterprise and financial systems, offering unparalleled interoperability.