Infor financials is an innovative technology for businesses that want to remain competitive in a dynamic and volatile business environments. The system guarantees efficient financial, expense and performance management to accelerate growth while bringing down the cost of operation. By doing so, business owners are able to control risks too.
Infor Financials Overview
The Reason Why Both Small and Large Enterprises Should Use Infor Financials
As we speak, this comprehensive and complementary suite is being used by over 25,000 clients around the globe. Here’s a breakdown of what it does to ensure efficiency in business operations:
- It lets authorized users access information from the system anywhere at anytime
- It was designed to enhance speedy decision-making as it eliminates chances of errors occurring by sending workflows and alerts to the relevant user — regardless of where they are.
- It enhances audible communication by way of social business technology. This means that collaboration is the center of focus here, and not an exception.
- The system has effective growth strategies in terms of support, and it doesn’t depend on the location of your business at the time.
- It reduces time wasted in audit cycles, plus it eliminates risks of fraud talking place within a business.
- And of cause the system was designed with the sole intent of keeping costs under control.
Besides the advantages that come with using this application, it’s important that one has a clear picture of what exactly this suite aims at doing. It’s very true that it was created around principles that promote good financial management practices. But how do you achieve this once you have it in place?
(a) Enterprise Performance Management
Financial planning is crucial but time-consuming. You must have the right systems in place to manage it effectively. According to infor financials official website, they say their system can now reduce the overall time spent in financial planning by a whooping 70%.
To achieve this, users get role-based analytics, a personalized dashboard, as well as scorecards that make it easy for one to predict how the business will perform in both short and long term period. You can also track this information in a well-laid out process, thus time is saved and effective planning is guaranteed.
(b) Core Financial Management
Under this section, users can easily adapt to the changing business trends with great ease. They can even eliminate manual business processes that are often associated with errors or waste of time. And the best thing is that it can also enhance their supplier relationship in a way that furthers their ultimate goals.
(c) Government Risks and Compliance
Government audit regulations will change from season to season. Every business needs to stay upbeat with these changing needs, so they need a system that will facilitate the transition from time to time. That’s where infor financial comes in — it simply saves several hours out of tedious audit cycles.
(d) Cost Control
The main objective of every business is to optimize their assets and inventory in such a way that they are most profitable at the least cost possible. Those who are not able to strike the right balance are often forced out of the market.
If there is more than one expense in a business, there must be a system that easily consolidates all of them into one place for effective cost control management. Don’t forget that while doing this, one has to allow room for growth as well.
Traditional systems don’t have the required features to facilitate such actions, thus most of them have been rendered obsolete. This is one of the core areas where infor financials thrives on.
An Overview of the Core Financial Management Aspects of this Suite
The fact remains that all businesses want financial transparency to effectively manage their cash flows. They also need a diverse and robust financial reporting capabilities so they are able to act on the information accordingly.
Again, integrating such needs with crucial financial data is another cost that needs to be taken care of. This means a system needs to be created in such a way that it’s able to consolidate all these needs into one place at the least cost possible. This way, businesses are able to strengthen their financial discipline — and that’s the best way to operate a business in both small or large scale market.
The cost of processing information related to expenses is something businesses cannot overlook. They could either have a feature that lets them deploy the relevant resources on cloud or on premise — whichever is convenient. Again, this cost must be reduced by a significant margin, say 70%, to realize financial goals in a short time. This calls for a completely configured solution that takes care of such needs conveniently.
In other words, it’s worth every coin if a business invested in a system that would standardize and automate processes. It’s worth it if this system would monitored and control spending in an effective way. And it would also be a plus if the said system enhanced every step in the supply chain from beginning till the end.
Infor 10X – The Core Driving Platform behind infor Financials Business Suite
This is a brand new infor’ business application which integrates both traditional and modern applications so businesses can get a taste of both worlds. This platform is backed by practical solutions that have been used and tested throughout the decades. At the same time, these practical applications are continuously being advanced by modern technological advancements.
Infor 10X, the driving power behind infor financials put emphasis on the following features:
- Social business
- Better user experience
- Program development framework
- Cloud and key analytics
Handling BudgetsÂ
To create a realistic financial budget plan, you first need to predict the trends by using a comprehensive financial reporting or analysis tool. Based on this data, you can effectively consolidate your financials by drawing a financial management strategy for your business. This strategy is what must contain a realistic financial budget for you.
Conclusion
And in all this, you’d be looking for one effective way in which you would optimize all your financial operations for the overall benefit of the business. That’s where infor financials come in because it rounds it up to an off-the-shelf solution that does everything under one roof.