Infor Smartstream for Dummies

Infor SmartStream is an integrated enterprise financial management solution that includes accounts payable, fixed assets, general ledger, accounts receivable, purchasing, inventory and the project tracking functionality.

Infor Smartstream Helps You:

  1. Keep abreast of financial details of the business
  2. Make decisions quickly based on up to date information
  3. Close your books of accounts faster, without errors
  4. See how various financial choices affect the operations
  5. Stay prepared for the audits and also generate better reports
  6. Streamline the payment processes
  7. Improve access to important financial data
  8. Add flexibility to the payment functions

This solution effectively connects all the business parts together thus you can quickly accelerate the business with brand new innovations and also reduce costs.

The global business environment today demands a nimble, quick response from each and every segment of the organization. Managers need the latest operating data and advanced systems that assists them implement quick decisions instantly. The strategic business decisions are multidisciplinary; status of inventory levels, financial statements, future receivables and current shipments all factor into decisions that largely determine your business’s success. Effective management is mainly the result of perfectly installing as well as implementing comprehensive business intelligence and financial management systems that greatly add to the decision making power instead of creating distractions.

SmartStream provides a very comprehensive package of various financial tools (that are web-capable) to give users maximum control over inventory, receipts, costs and other important financial variables. In addition, this solution is designed to efficiently interact with various enterprise management applications such as business intelligence systems, CRM and ERP so as to deliver a great, enterprise – wide result. The very experienced Infor’s professional services team assists you implement your SmartStream solution, the team can also create workflow and training systems that are perfectly tailored to your industry’s specific needs.

This solution greatly accelerates the business process by completely automating the day to day operations that make the company tick. Each module of SmartStream is customizable in order to suit all specific needs of one’s business.

The graphical workflow maps of SmartStream shows you the ’broad picture’ of the workflow thus enabling you to refine and also improve the daily work process so as to achieve maximum efficiency. A more efficient workflow generally means more satisfied customers and a more healthy business in long run.

Modular construction allows one to build a good SmartStream system to perfectly match his business by including all functions he needs and excluding those ones that he does not need. The modules one can select include payables, ledger, receivable, asset management, allocations, billing, consolidations, projects, funds control and budget.

WEB 7 Distributed Financial Management

With WEB 7 technology, one can extend the SmartStream’s power to vendors, customers and employees through a very familiar web interface, bringing more people to bear on the critical tasks and reducing the per-seat deployment costs. WEB 7 provides a good intuitive user interface, quick performance and also global availability to all users both outside and inside your enterprise.

WEB 7 technology- enabled financial management helps the workforce to easily maintain accountability and accuracy.

Web-enabled SmartStream modules

Web requisition

Through a web-based sign-on, the web requisition allows all reviewers to reject or approve requisitions. It also improves internal controls and simplifies the requisition process while giving requesters quicker access. In addition, you will reduce or eliminate unauthorized spending and also cut down the costs of transactions by effectively preventing purchase of offcontract products. Direct access to the requisition system reduces supply shortage and order entry errors. The SmartStream Web Requisition enables requesters order products from inventory and also from the vendors.

Web purchase order

SmartStream’s Web Purchase Order helps one improve communications and save time throughout the purchasing process when it is used to manage all the transactions in the procurement process. The procurement managers are able to see workflow ‘to do’ messages for the purchase orders that are already rejected or approved and sort the messages that are displayed on web page by simply clicking on the column label. In addition, the procurement specialists can view all details of purchase orders, which assists them to make a decision whether to reject or approve each purchase order. If the funds control is appropriately installed, Infor SmartStream can check the funds available at the approval time.

Web vendor self service

Offer the vendors’ real-time, secure avenue to easily check accounts payable info over the web. This solution’s Web Vendor Self Service offers a very intelligent interface to one’s SmartStream application of accounts payable and provides the vendors with details such as payment history, invoice information and payment status.

Web ledger

SmartStream’s Web Ledger lets the financial managers with authorized access to general ledger view the journal details. After viewing all the details, they can then reject or approve entries, add some comments and trigger workflow for approvers in the next level.

SmartStream can also greatly improve workflow by routing the journals to all users based on the existing workflow maps, structures, workgroups and approval lists.

Web receipt

Improve the organization’s productivity and financial management by effectively automating the online communication with assistance of SmartStream’s Web receipt. Through a web browser, the requesters can check the orders previously added, update as needed and record receipt of the incoming orders.

Web invoice approval

Web invoice approvals enables the managers to view comprehensive invoice histories and reject or approve individual invoices efficiently and quickly. The managers are also able to prioritize the invoices and enter rejection or approval status.

Supercharge productivity today

SmartStream’s powerful advanced financial management tools that include web-accessible human resource features that are designed to improve accuracy of important employee data and increase responsiveness to the internal clients.

Web employee self-service

The employees can view and also maintain personal HR info using SmartStream’s Web Employee Self Service. This solution greatly improves the reliability of the HR info, improves the productivity throughout the HR department by freeing the HR staff and also significantly lowering ownership costs.

Web benefits enrollment

SmartStream’s Web Benefits Enrollment provides a step-by-step, simple approach that guides the employees throughout their benefit elections. This solution speeds the process of enrollment by enabling the employees enter their elections thus allowing the HR staff to focus more on strategic tasks.

With Infor SmartStream solutions, you can effectively unify all your human resource, financial, procurement as well as business intelligence information. Therefore Info SmartStream helps you operate more effectively and make the best strategic decisions.

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Brooke Nelson is the Lead Author & Editor of NetSweets. With more than 20,000 customers, NetSuite is a fascinating platform! It is the major player in ERP, CRM, and ecommerce.