IFS: Financials
Effective financial management must run through all aspects of a company’s operations. When you have complete access to all the critical financial information, it becomes possible to make financial decisions that help to realize your company’s full potential.
IFS Financials works worldwide, regardless of whether you choose to let the different countries use a centralized system or discrete systems in the respective region/country. The solution covers the entire needs of a company, including functionality for accounting rules that is seamlessly integrated with other business applications in use.
Accounting is a crucial part of a financials solution—internally to manage the enterprise and externally to satisfy legal requirements—but the handling of invoices, payments, fixed assets, etc. is equally important. It’s also true that accounting is basically the same in all countries, but the freedom to define a chart of accounts varies between countries, as do the reporting obligations imposed by the authorities. IFS Financials enables accounting rules and reporting to be freely defined in the respective companies while ensuring that consolidation and other reporting can be translated automatically to a central code plan and currency.
SOA technology facilitates coexistence and integration
IFS Financials covers the entire needs of your company, including functionality for accounting rules that is seamlessly integrated with your other business applications—whether they’re from IFS, SAP, Oracle or any other vendor. This is because the solution is built on service-oriented architecture (SOA) to enable co-existence with other business software.
Agile solution—wherever you do business
IFS Financials works worldwide, regardless of whether you choose to let your subsidiaries in different countries use a centralized system or discrete systems. Accounting rules and reporting can be freely defined in the respective companies while ensuring that consolidation and other reporting can be translated automatically to a central code plan and currency. Also, the standard version of the solution includes rules and processes for U.S. Sales/Use Tax in addition to various forms of VAT handling.
Invoicing, credit control and cash flow are other areas in which IFS increases your agility and lowers administration costs.
If you want more information about how IFS Financials can help you run your business more profitably, download our brochure.
» Financials — PDF-file (1.1 MB)
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