Why Infor MasterPiece FMS is the Financial Solution You Need

Infor Masterpiece is a very advanced financial management solution that assists streamline all financial process flows in order to improve transaction-based, trade-related, business-to-business financial processes and functions.

This solution effectively meets all the advanced management accounting and financial reporting requirements needed by complex organizations. This solution works in conjunction with some other Infor solutions to help companies streamline the financial process flows so as to improve transaction-based, trade-related, business-to-business financial processes and functions – including sourcing, performance and procurement management. It’s a very ideal solution especially for companies that anticipate or have already undergone changes to operational models and organizational structures resulting from diversification, growth or even industry consolidation through acquisitions and mergers.

This solution features functionality to assist companies realize some benefits including:

  • Greater efficiency and effectiveness of financial processes and operations through reduced operation and financial transaction costs and also standardized key roles and processes.
  • Compatibility and flexibility of the financial application deployment
  • Global support through the multiple-currency and language functionality as well as international legal compliance.
  • Platform diversity and system integration for low total ownership cost.
  • Visibility and control of the financial performance through the best practice budgeting, planning, forecasting, performance analysis, traceability, management reporting and financial consolidation.

A larger workforce does not always do more work. Increased spending cannot guarantee increased value. Complete and timely financial information assists managers make better decisions quickly, without the fear of unexpected human or financial fallout. Improving responsiveness of your human and financial resource systems can become a very difficult and challenging task if the systems selected cannot be adapted, connected and customized to your situation. Getting the correct fit for your own business situation is a very important key to having a strong organization that lasts.

An organization performs a lot better when it’s financial management systems are responsive and accurate. This solution brings more accurate and faster financial management to the organization thus helping managers to focus more on the most important issues that are critical to reaching the organization’s goals and keeps the workforce from being bogged down by the financial details.

Benefits of Infor MasterPiece

1. Up-to the minute status

A truly fully integrated and sophisticated management system clearly shows you the business situation as at that minute not last week or yesterday. This solution offers real-time information to all the decision makers in order to assist them do their work better.

2. Accurate views of spending

Knowing who is spending what as well as how much has been spent is very important. Normally, cost control starts with attention to every detail, so this solution delivers all details immediately in order to clarify the real-world economic choices for people who require to make the choices.

3. Traceable transactions

Spending decisions normally cascade through the organization, increasing the impact over time. This solution assists organizations trace all the transactions down the slightest detail this helps them to clearly understand how resources are being used and to ensure that they get the value for the money that they spend.

4. Improved purchasing management

Good managers are those who delegate authority, however delegated authority to purchase can cause trouble if necessary controls are not in place. This solution greatly helps to enforce controls on the purchase authority during purchase, which minimizes waste and also reduces unauthorized spending.

5. Security

The safety of all your financial information is very important, it’s also very essential for keeping the organization in full compliance with some laws and regulations. Infor MasterPiece FMS product line includes 2 distinct but integrated parts to assists you manage your 2 most important business resources – your money and your people.

This solution is well-suited to head or regional offices within large and growing organizations. Its enterprise-class, integrated features effectively address challenges facing most companies that confront changes to business resulting from acquisition, growth or diversification. This solution combines its enterprise-class features with some other Infor solutions to offer a range of very powerful benefits and features, including;

1. Efficient and effective financial processes and operations

  •  Standardized key roles and processes
  •  Reduced operation and financial transaction costs
  •  Enterprise-broad financial scope

2. Compatible and flexible financial application deployment

  • Multiple currency and language support
  • International legal compliance
  • Platform diversity and system integration.

3. Visibility and control of financial performance

  • Best practice budgeting, forecasting and planning
  • Performance analysis and management reporting
  • Financial consolidation, traceability and reporting.

Infor HCM Masterpiece offers a comprehensive solution that assists organizations to optimize one of their most important asset – their people. Infor HCM Masterpiece offers important workforce management strategic workforce and talent solutions thus helping companies gain visibility and control into the performance of their workforce; profit from more efficient and effective global processes and operations and also benefit from the compatibility and flexibility of the workforce application deployment.

Infor HCM Masterpiece is an internet-enabled, complete human resources solution that effectively addresses all issues regarding workforce deployment and management and optimizes the complete recruit-to-retire process for the global organizations, supporting numerous currencies, languages, benefits, tax definitions, platforms and security configurations.

Designed to standardize and streamline workforce service delivery, management and development processes across multiple countries and organizations, this solution boosts an organization’s competitive advantage with some tools to address all the workforce management requirements. The features include;

1. Workforce deployment

  • Reduced human capital as well as operation transaction costs.
  • Performance analysis and management reporting
  • Human capital consolidation, traceability and reporting

2. Talent management

  • Multiple currency and language support
  • International legal compliance
  • Platform diversity and system integration

3. Workforce management

  • Standardized key roles and processes
  • Centralized, secure databases for housing all important employee data

Better accountability means better performance for the organizations that use this solution. With financial efficiency and control extending to your entire organization and also effective human capital management, you will enjoy top class performance as well as increase in the satisfaction of employees through the direct labor savings. With this solution, your organization will experience purchasing and spending improvements and also a boost in the overall agility and efficiency by knowing that all resources applied to every task are effectively delivering maximum value always.

Infor Masterpiece FMS is actually the core accounting and financial application used by many organizations. The core components that are used include; general ledger, accounts receivable, accounts payable, fixed assets, purchase order, job cost and inventory control.

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.