The Benefits of Infor FMS

With Infor FMS, you easily get a clear visibility of the financial performance throughout the business. Financial analysis and reports, budgeting for projects, cost accounting, forecasts and management of cash are some of the services that are offered by this solution. This solution gives you the control and visibility needed to optimize every step of your financial process. This solution facilitates processes that enable you to keep effective control of your entire business and improve your financial management capabilities.


Infor FMS Solutions

1. Financial accounting

This enables you to publish your results more quickly and with confidence

2. Expense management

This assists you to get a better return from all your travel costs

3. Billing and banking solutions

Build your banking activities on a good sound basis.

With very many implementations across the world, Infor FMS is a customer-driven, proven solution that effectively meets all your expanded and traditional business needs. You greatly benefit from Infor’s very many years of experience closely working with excellent financial managers in various industries to solve some of the toughest challenges.

This solution brings together various business functions in one multi-language, scalable, open systems platform. This solution is easy to use, delivers a very low total ownership cost, provides information visibility for the decision makers and supports global operations.

At the center of this solution is an integrated, single ledger that perfectly combines the great functionality of payables and receivables ledgers, cashbook, user-defined ledgers, nominal ledger and project ledger. This provides a very powerful financial transaction processing system that lets you view the instant impact of a financial posting made anytime.

This solution consists of the financial management solutions outlined below;

1. Financials

This solution’s financial modules are designed specifically to offer immediate access to accounting and finance information for effective and fast decision making. The financial modules cover all financial management aspects including; receivables and payables ledgers, nominal ledger, corporate allocations, dual base currency, consolidation, multi-currency, debtor management, fixed assets and budget management.

2. Procurement

In a constantly changing and highly competitive environment, efficiently controlling purchasing is very important. This solution provides a great web-based spend management and control solution for easier deployment to many employees thus providing control and visibility over all the purchasing activities. The employees are much able to effectively manage their purchasing requirements within policies and rules that are set-up for their organization.

3. Order management

This functionality is included in order to assist you take complete control of your purchasing, inventory management operations and sales. Order management is specifically designed to perfectly integrate with customers and partners across the value chain. This solution also offers the capability to clearly define the custom process steps for sales, purchasing and inventory movements. With streamlined purchasing processes, the purchasing professionals are able to put more focus on supplier negotiation, strategies and management.

4. Expense, time and resource management

This module offers self-service, web-based applications that greatly increase employee performance and productivity by tracking expenses and time, recording, approving and managing resources. The key benefits include simplified and streamlined processes, faster administration and reduced discrepancies and errors.

5. Professional services automation

This system can efficiently accommodate sophisticated project costing and accounting requirements. It provides complete professional services automation for resource management, web-based expenses, time management and billing and project accountancy. This drives revenue recovery and improves staff use.

6. Integrated analytics

This module offers a very comprehensive set of business intelligence and reporting solutions that allows you to turn all data into some meaningful information. By providing ability to easily drill down into multiple dimensions of business and financial information, this solution delivers unique and clear insight into all aspects that matter to the user.

7. Performance management

This solution can generate, manage as well as deliver important business information to many users throughout the web securely. Reports on KPIs (key performance indicators) can be easily integrated into your intranet or website, with personalized views given to the authorized users in order to ensure that important information is quickly highlighted. Risk management, consolidation, budgeting, balanced scorecard and planning and forecasting capabilities are included.

This solution can be structured so as to perfectly match operational controls that your organization needs by providing certain levels of automated rules, security and flexible processes.

Packaged with very smart functionality to effectively address the main challenges organizations face today, this solution requires shorter implementation time, few IT resources to efficiently maintain and less customization. That then means immediate return on investment and lower total ownership cost over long term period. This solution can also be quickly reconfigured in order to support the changes in business operations and financial administration style. With this solution, you get everything that you need to:

1. Cut costs and also create efficiency in the finance processes

This solution significantly reduces the budget cycle times through the provision of one, integrated environment for forecasting and budgeting.

2. Improve corporate performance

Greater transparency and visibility of data will assist you to meet the corporate governance demands more easily. Real-time analysis and reporting means that stakeholders and users can better understand the performance of the business. The real-time alerts enables you to focus on the areas that require immediate attention.

3. Integrate operational and financial data

Operational and financial data can be effectively integrated to give an auditable and consistent solution for accurate budgeting and reporting across the enterprise.

4. Avoid data duplication and reduce errors

Financial budgeting and planning data is perfectly integrated to general ledger thus reducing accounting errors.

5. Provide an auditable and consistent environment

This solution provides sophisticated data reconciliation and audit trails functionality.

6. Work globally

This solution is built to easily accommodate multiple currencies and languages, therefore it supports you regardless of the location of your business.

7. Elevate and extend financial management

Integrated solutions for business analytics and performance management give the platform for finance function to easily shift focus from the processing of transactions to decision support.

The financial risks and challenges facing many business today can be completely solved. You require a financial management solution such as Infor FMS that reduce delays and costs. It also enables you to know the contentious financial information, improve transparency of your activities, and impose financial controls and standards.

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.