Financial Management

Financial Management


Financial planning is of utmost importance as all the business activities depend upon sound financial planning and management. Meticulous financial planning ensures smooth business operations and all other business activities can be performed in tandem. Finance is the backbone of every business venture and thus, financial planning needs to be done with caution so that the organizations are able to run its businesses in a smooth and in an efficient manner.
We, at Online24x7, offer Financial Management Software Solutions that help your business to grow and prosper. Survival of business is dependent on how a business uses its limited financial resources and makes optimum utilization of the finances. Our software solution automates the entire process of financial management which allows for streamlining the financial activities and further helps organizations in finding the best financial avenues. Better management of finances lead to increased profits and ensures financial stability. Further, it makes users that the business is able to survive in the competitive market and propel continued existence. Our ERP for Financial Management ensures that companies are able to maintain liquidity and prosper in the long run.
Our software solution is available with cloud technology and on premises also. It is equipped with capabilities to handle different functions in the Accounting process. General accounting, Fixed Assets accounting, Management accounting, Receivable Management, Payable management and other accounting activities can be performed with a high level of accuracy while complying with the country-specific tax regulations.
Our ERP for Financial Management provides updated information and integrates excellence in the financial operations. Moreover, all the statutory rules and regulations are met while performing different business activities. The software is also equipped with the capability to calculate job order costing, calculating depreciation value when assets are installed or removed from the business premises. The software makes a smooth transition among various financial activities including sales and business execution functions. On the whole, it brings higher efficiency in all business activities leading to higher profits.
For business ventures, whose operations are spread over different geographical locations can use our software to handle details pertaining to imports and exports. The software caters to transactions carried out in multiple currencies for a large number of countries and simultaneously complies with multi-statutory rules and regulations.

Flexible Book keeping. Impeccable Reporting. Unparalleled Financial Consolidation.
The Accounts department has to be vigilant to ensure accuracy in the management of financial accounts. The time-consuming process of financial management has been replaced with a quick, smooth, flexible and an efficient accounting software solution. With cloud technology and the assistance of the software, managing accounts has become an easy task. Our Financial Management Software Solution adapts to the changing business environment and takes financial consolidation to an altogether new level. Information can be sought in real time and thus timely decisions can be taken to ensure better financial health of an organization.
Our software solution is equipped to deal with a large number of companies and business ventures and meets their financial requirements effectively. There are different charts available that define accounts for Posting, Reporting and Consolidation. Consolidated reports can be created which prove to highly useful for the management while taking decisions. Country-specific tax extensions are available in the software which meets the domestic requirement of business organizations. The software solution can be easily integrated with supply chain management, production and maintenance modules.

•The software helps in maintaining a financial set up which is defined by business locations, budgeting control, accounting rules and regulations etc.
•The software gives a quick view of the financial statements of the organization and ascertaining the financial health of the company quickly.
•The software solution helps in accessing online updates on budgeting and gives detail account information starting from ledger books, trail balance to the balance sheet.

Maintaining a smooth relationship with the suppliers
Maintenance of Account Payables goes beyond recording supplier bills and managing accounts related to expenses by the creditors. Efforts need to be made to pay bills within the stipulated time period and to avail a maximum number of discounts. The accounting department makes sure that urgent payments are paid in a batch and payment priorities are clearly stated. Our ERP for Financial Management addresses this need efficiently and on a timely basis. Organizations can collaborate with their suppliers and easily exchange the required documents. It also gives organizations a complete control over the cash flows and they can make timely payments.
With the help of the software, administrative process can be managed in a shorter period of time, as it automates the administrative function. There are a number of features in the Payable Management module that help in such Debit/Credit notes, supplier payments, Sub-ledger, Supplier invoice etc. Thus, it makes easy for businesses to keep a track of liability of the payments of goods and services with the help of receipts.

•The software solution helps in taking a complete control over the cash flows.
•Businesses can easily track and process payments to suppliers.
•Multiple payment modes are available in different currencies which makes processing payments across the globe an easy task.

Working Capital Management- An easy task
The Receivable Management module in the Financial Management Software Solution enables businesses to monitor and keep track of the working capital. Regular tracking of working capital ensures that receivables are managed efficiently. Various processes such as that of Customer receipt application, Balance adjustments and transfers, Credit risk management, Reporting can be done in an effortless way. Keeping a tab on multiple invoices raised in different geographical locations can be a cumbersome task and this process can be simplified with the help of the Receivable Management module. Centralized collection of invoices can be done for such invoices and automatic adjustments can be made for manually created receipts. The software solution can be seamlessly integrated with other applications such as that of sales, Shipping and Inventory. Sales accounting process can be done in real time. There’s also an interactive feature known as the ‘Collaboration feature’ which enables customers to get their account details easily.

•The software solution facilitates a close relationship with the clients and ensures quick turnaround time for their requests.
•Customer receivables can be managed in a highly organized way.
•The software solution ensures quick processing of invoices across different geographical locations.

Accurately manage Capital Investment
Fixed Assets Accounting solution forms an important component of our Financial Management solution. It helps in the management of the fixed assets in an easy way. It makes the cumbersome process of the tracking fixed assets such as that of plant & machinery, furniture & fixtures, tools & equipment, building etc. effortlessly. Our fixed accounting solution manages all the activities related to Asset Management and performs different functions such as that of acquisition of assets, insurance premium payments, follows multiple depreciation rules etc, while managing assets of the organization. This module keeps a track of the depreciation value of the assets, sales of the assets and their transfer.

•Our Fixed Accounting Solution maintains a comprehensive record of the data related to fixed assets management.
•The software takes care of the capitalization of the new assets and monitors the fluctuation in the assets value.
•It helps in making the right decision regarding the disposition of assets

Gain control over expenses
Online24x7 offers a comprehensive Management Accounting solution that is embedded with features assisting in cost control. There are various features that allow Budgeting and expense allocation to the different departments. Optimum utilization of the limited financial resources can be done and budget forecasting can be done in the most appropriate manner. Budgets can be prepared to recover expenses.
There are user-defined rules which are taken into consideration during the allocation of indirect costs. The software can be integrated with the ERP for manufacturing solutions and get accurate costs incurred in production. Thus, the software assists in variance analysis and a thorough analysis of the operating costs. Organizations can get success in achieving their financial goals and objectives by changing gears based upon the operating expenses and variances.

•The software solution helps in measuring cost and helps in accurate profitability analysis.
•It enables organizations in gaining a complete control over the financial decisions.
•Performances can be tracked and profit & loss reports can be generated with ease. Moreover, profitability analysis can be made and get a 360 degree view of the profitability of the cost centers.

Easy tax computation, meet the requirements of country-specific taxes
We offer a robust a Global taxation module in our Financial Management Software Solution which is embedded with features addressing the requirements of country-specific taxes. The feature helps countries in complying with multi-country tax regulations. Taxes can be specified and categories can be specified for Tax Core, Tax Classes and tax accounts. Parameters can be set according to the type of the assesse, tax classes and tax categories. The software solution meets the requirements of the accounting rules and regulations of a large number of countries. The software is also equipped with features to deal with accounting standards including European VAT and Swiss VAT.

•The software solution facilitates tax amendments as a free system updates.
•System-delivered tax rule definitions and parameter settings are provided in the software.
•Tax computation can be done in the most simplified manner and taxes can be remitted to the government with great ease.

Business finance dealt with great ease
Our Financial Management application offers the most appropriate solution to automate the financial service functions undertaken by your organization like investments in various forms such as fixed return investments like bonds, certificates of deposit, fixed deposits, etc, which regularly generate a fixed amount of interest income.
This module of our Financial Management Software Solution offers features such as Financial Services Setup, Trust Receipt Funding, Bills Discounting, Bank Guarantee, Investment Transactions, Trust Receipt Loan Redemption and Bills Discounting, respectively, which can help you streamline and automate the entire chain of activities related to financial services.

•The software solution automates the entire financial services management process and streamlines the entire process.
•Exhaustive reports can be created which give a complete view of the financial health of the organization.
•This module helps businesses in taking highly informed decisions for the betterment of the financial position of the organization.