A software for financial management will allow an organization to better manage the ever complex and diverse processes and transactions they face because of globalization as well as mergers and acquisitions, changes in market conditions as well as diversification and growth of businesses as well as other crucial situations. In addition, by using the right financial management software programs companies can achieve full compliance with strict financial reporting and information management regulations like BASEL II and Sarbanes-Oxley.
So , how can the financial management software do this? How can it make the financial processes of all nations more productive and efficient more than they have ever been before? With a wide range of capabilities and features including:
1. Automation and Control of End-to-End General Account Procedures
Software for managing financials streamlines and improve all administrative financial procedures from beginning to finish, including accounts payable accounts receivable, accounts payable and cash flow management. buying, payroll general ledgers, and payroll.
2. Assistance of Worldwide Financial Processes
With the help of a financial management software program that is available to businesses, they are equipped with the tools and technology they require – including the ability to support multiple currencies, exchange rates, different languages specific to each country, laws and guidelines and multi-national transactions to facilitate coordination of activities that cross many business units and departments and enhance the management and execution of financial activities across all locations around the world.
3. Planning and Forecasting
Businesses that use software for managing finances are able to make use of past data to forecast future financial events, such as the patterns and trends in revenue, income and expenditures. Furthermore the financial management software solution can enable companies to see what situations, such as the market, acquisitions, or the addition of business units that are not yet operational, can affect the financial condition of an organization. This helps make strategic planning more precise and efficient.
4. Cash Control and Monitoring
Monitoring income as it’s recognised by various departments and business units , as well as monitoring the way funds are used across different areas and divisions is quicker simpler, more efficient, and more precise with the aid of a financial management software. By streamlining the process of consolidations budgets, allocations, and other tasks related to managing cash flow and tasks across the enterprise, the financial management software gives a comprehensive and unhindered overview of the status of cash flows and all associated transactions.
5. Advanced Reporting and Analysis
The capability to create quickly complete consistently, reliable, and precise balance sheets, profit and loss statements, budget allocations as well as other financial reports is a crucial feature of today’s top financial management software. Many of the financial management software applications also offer in-depth, ad-hoc analysis tools to ensure that financial experts are able to easily design custom reports that meet their particular needs for information.
A lot of the software for managing finances programs available on the market currently are built on robust designs that allow:
Advanced security features to block unauthorised access to financial information that is confidential.
Web-based access allows for the elimination of the hassle of client/server installation and maintenance, while providing 24/7 access to critical financial data.
Easy integration with other applications for business to facilitate rapid sharing of information as well as full collaboration.
The most important benefits to your Financial Team
Multi-Level Organization Structure
One accounting program that covers all your businesses in an installation available to everyone. Global and multi-level organization structures that operates on different currencies is easily defined to ensure that there is only one reliable source.
One Chart of Accounts
Create an account chart that is a single one for all your companies with particular ledgers for each entity or ledgers for specific countries. The reporting process to your head office has never been more simple. Accounting practices can be adopted across organizations, regardless of the nature of the business.
Flexible Reporting Hierarchy
Separate your legal and legal entities into different reporting hierarchy. Different reporting hierarchies may be created to create P/Ls based on divisions, Regions, Products as well as any accounting Dimension.
Group Consolidation
A genuine group consolidation engine lets you condense your numbers even at a global level across various GAAPs. If you are considering accounting for several currencies, countries and consolidating rules, automatic rules can be set up.
RealCube Global Financial Management Software Solution
The only truly international financial management software that lets you to run accounting scenarios across the globe and working in accordance with different GAAPs within one system. Additionally, you can perform multi-currency transactions, make multi-lingual documentation and more.
Setting Goals has never been easier.
You can plan your timetables with just only a couple of clicks. If you plan with the aid of important numbers (formula plan) or using the past numbers and growth expectations, RealCube Advantage Financial Management module provides the best tools for planning your process.
Flexible Dashboard Reporting, KPI
Determine and monitor the numbers important to your business . You can track these figures on your dashboards based on roles. Create KPIs for each user role and make them available right in the workspace.
Look for the “Why” is much simpler
Looking into your data from the highest levels to determine the root cause of changes is easier when you use the RealCube Advantage the Financial Management Module. Our BI capabilities assist you in your search for what’s the “why” and then explain the reasoning in a clear and concise manner. It allows you to compare time divisions, periods, regions or other accounting dimensions.
Increase efficiency and facilitate operations accounting using simple tools
Make it easier to manage your accounting procedures with the help of powerful accounting software that will help you run your daily business with ease.
Accounts Receivables and Payables Cockpit
The AR/AP Cockpit gives you all the details that you require, and assists you in the tasks you have to complete at one interface. It helps automate the process of making payments to suppliers and also takes action on receivables in order to be more quickly paid.
Bank Reconciliation Cockpit
A smart reconciliation mechanism to ensure that you match anticipated transactions to actual transactions automatically pulled from your bank’s web interface. This tool will could save you lots of time.
Automated Allocation, Distribution and Tools
Establish rules for the automatic allocating AR/AP transactions Payments and allocation across Accounting Dimensions such as Organizations, Cost Centers, Projects and more.
Learn more about our accounting Software
Accounts Payables Automation
Configure your personal Workflow for Accounts Payable in order to reduce time and effort for making payments to your bill. Make use of discount offers for payment and build a stronger relations with your suppliers.
Budgeting
Create investment and operational budgets with the tools that are appropriate. The plan should be based on any accounting aspect like Division, Organization, Project and numerous others.
Central Cash Management
Central Cash Management allows you to streamline your management of funds and generate income from investments. Automate Inter-Company accounting implications along with interest computation.
Automate your intercompany invoices according to the terms and key figures you have agreed to by your subsidiary. Invoice recurringly on usage contracts and service contracts or create invoice schedules.
Workflow and Approvals
Set up workflows that are based on roles to ensure more accountable management of your master and transaction data. Flexible workflow engines provide an extensive set of automated tools.
Banking Integration
Standard Interfaces, as well as the ability to create customized interfaces with banks help you automate bank transactions and reduce time. Check your bank statements and automate payments with secure acceptance and integration.
