The module enables the possibility to plan the financial parameters of the company and offers both proactive capabilities for early warning if they become negative and complex analysis tools to identify factors of influence.
The structure of cost / income centers and formulas for automatically allocating transactions on previously defined centers are set up. There are no limits regarding the number of centers. Their organization is tree-like in order to provide reports of drill-down, starting from the aggregated indicators, avoiding the detailed information. Because the correlation of information from this module with the existing modules in management and accounting, quality of analysis is maximum, and access to desired information is done immediately, regardless of their source.
Given the extremely high level of automation of the generation of accounting, companies should implement SeniorERP and for the ones which have not been used in such a way, it was regarded as a natural evolution of the quality department financial activity – accounting for the input / operating data to analysis and control.
Once defined by the center, you may set specific monthly budgets. You can follow budgets forecasted versus the running ones. Budgets of revenues and expenses are tools that ensure the decentralization of decisions in a company without affecting the financial parameters default. By establishing persons responsible for sections of your budget, you may transfer the decision by operational links. At least in the first phase of decentralization, it is recommended reevaluating budgets at a shorter period of time – usually monthly.
Not all expenses are recorded at the time of their issuance. For example, expenses related to travel in an attachment for business, are recorded back in business. Meanwhile, another employee may request an advance for another trip, but nobody knows if the budget was passed or not. The role of this sub-module is to highlight ongoing costs, to encourage proactive behavior in the realization of forecasted budgets.
Achieved using the method of directly calculating, the cash flow is presented both in tabular format, divided components, and graphics, easily understood and followed. Maximum or minimum points become apparent in the cash flow and you can plan corrective measures. A distinct category is represented by documents that have exceeded long term maturity, a decision on the influence of cash flow being needed.
To avoid repetition of such situations, there can occur alerts / block the issuance of new documents to the clients concerned, if preset thresholds are overcome. It is extremely important to create a coherent trade policy, in which quality indicators play an important role. If used as sales and channel marketing agents, one of the criteria for bonuses provision is meeting the agreed deadlines for payment. Another policy of improving the cash flow is the vertical integration of new distribution channels that provide an immediate cash flow: retail, online, etc.
SeniorERP allows the granting of the payment at invoice line, thus it can be set closer to expiry date of easily salable products, excess cash flow can finance products that require support.
For specific analysis, there are reports that synthesize analysis of aging balances, and detailed reports at the maturity date of the document.
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