Experts in Finance Transformation, Unit4 Financials and Software Development
‘’No compromise’’ financial management for the CFO
Unit4 Financials is a best-in-class financial management and accounting solution, designed to integrate with your industry – and company-specific applications. By acting as the financial information backbone for companies with fast changing and mixed application environments, it offers a ‘’no compromise’’ approach to financial modeling, process controls and application choice.
The core accounting capabilities are complemented by a range of additional applications, enabling you to augment your solution and tailor it even more closely to your needs. And these are all underpinned by the solution’s unique architecture. These extend real-time financial visibility and control across your organisations’ people, processes and systems , for improved decision support and efficiency, while eliminating the risks and potential costs of non-compliance.
Gain immediate insight of what’s happening
No matter how demanding or complex your requirements, Unit4 Financials rises to the challenge. It delivers the ‘’multi-everything’’ (country, company, currency, language, deployment, production lines and many other dimensions) capabilities that you need, so that you can both meet specific local accounting requirements and maintain global consistency, visibility and control.
With Unit4 Financials, you gain the most flexible, scalable single reporting model or ledger that is always in balance.
Accounting for Change
Our teams have worked with thousands of organizations around the world to help them solve their business problems, to navigate successfully through changing markets and uncertain times. Today, our solutions are acknowledged as the best for organizations that face frequent business change – simply because they prove to be easier, faster and more cost effective to change than any other solution in the market and you can do so without being dependant on your vendor or expensive external IT experts.
Best-in-class focus, agility and interoperability
Unit4 Financials’ outstanding integration and interoperability enable you to easily connect best-in-class applications, of all types, in a federated approach using our web services. This allows you to concentrate on adding value to your specialized systems, while simultaneously benefiting from the very best in financial management solutions and a range of other dedicated solutions from Unit4 to complement and extend your solution.
Unit4 Financials Business Capabilities
Give Intelligence back with smarter accounting
Unit4’s award-winning Financial Management software helps you streamline and automate your financial processes (from accounting and procurement to reporting and analysis) to achieve better compliance and corporate governance.
No sub – systems. No sub-ledgers. No Waiting. No reconciling
Unit4 Financials broke new ground when it was launched, as the first single-ledger (or unified) accounting system. Unlike the batch or multi-module designs that came before, the general ledger and all sub-ledgers, such as Accounts Payable, Accounts Receivable, etc. are all part of one system and one multi-dimensional financial model. This single system design still leads the market today, eliminating time lags, sub-ledgers, data fragmentation and the need for reconciling different modules. Without the need for integration between sub-systems, your business data is consistent and always in balance and your ledgers are always up to date.
Multi-dimensional – infinite ways to classify, measure and analyse your business
The multi-dimensional financial model of Unit4 Financials provides exceptional ways to capture, store, and maintain financial data. For example, the chart of accounts offers unparalleled flexibility to measure profitability, accommodating different account coding schemes within the same company. This allows each line of business to measure profitability the way it needs to, yet provides a single reporting model or ledger that is always in balance. Unlike ‘’Code Blocks’’ that are flexible once, Unit4 Financials is designed and ready for diversity and can be updated easily when needed.
The financial model of Unit4 Financials includes dimensions for multiple currencies, account balances, budgets, forecasts, supplier activity, customer activity, and other business statistics. It is a multi-everything Design (country, company, currency, tax, language,), handling even the most complex or evolving corporate structures. Unit4 Financials may be implemented and run as a single version worldwide, delivering the control that you need to ensure consistency across your enterprise. But it also offers the capability and flexibility to satisfy a huge range of local requirements and approaches to accounting found around the world.
Real- time visibility
A hallmark of Unit4 Financials is our world-famous, real-time drilldown. Because of the single financial model and configurable business dimensions, users can browse from high-level balances down to original source documents without passing through complicated summary entries and without missing any transactions due to batch integrations, module updates or balance roll-up routines. For instance, cash balances instantly reflect activity as cheques are issued in A/P and cash is received in A/R.
With Unit4 Financials, you always know your cash position – up to the minute and down to the last cent.
One of the most stressful and demanding times in an accounting department is during period close. While there are many causes for the hectic nature of a close, a great financial system can reduce the stress and workload; an inferior system can add to the work , frustration and lost time.
Unit4 Financials users enjoy a number of capabilities that take the stress out of the period close, including:
· The single financial model delivers a rolling close that is always up to date.
· There is no reconciling of accounting modules or sub-systems to do - so it’s always om balance too.
Enlarge you visions with Flexi-Fields
Capture more information in your system with Flexi-Fields, and do away with external sources. Benefit from more complete, more relevant information, and use it to make faster, better decisions.
· Centralize your data
Add information and sources from outside Unit4 Financials and eliminate the neded for different software packages – all your data is in one place.
· Add the info you need
Create your own fields with real-world information relevant to various stakeholders.
· Create a bigger picture
Achieve a richer project analysis and get more perspective. Be better equipped to make the informed decisions that benefit your bottom line.
Intuitive and efficient – do more with less!
Core accounting capabilities
· General Ledger – validate, record, view and summarize your financial information, in real time!
· Accounts Payable – delivering streamlined, flexible ‘’requisition-to-check’’ processing.
· Accounts Receivable – delivering streamlined, flexible ‘’order-to-cash’’ processing.
· Fixed Assets – fully integrated, flexible, high-volume asset control
· Project Accounting – fully integrated handling of project and program financial management.
Improve efficiencies with smarter procurement
Although indirect spend isn’t the largest expense category for most companies, as one of the most under-automated and under-controlled functions in companies today, it can be ripe for process efficiencies and savings.
The automation of indirect spend represents a perfect opportunity for you to increase earnings. The beauty of indirect spend savings is that savings fall directly to the bottom line, without crippling production or resulting in disruptive staff layoffs.
Helps an organisation to:
· Establish processes with improved control;
· Consolidate purchasing activity;
· Negotiate more effectively, capitalising on its full buying power.
Unit4 Financials is designed to help you establish electronic controls throughout the purchasing process while reducing the effort it takes to request, order, receive, invoice and pay for an item. By extending procurement functionality to all users and putting manager into authorisation workflow, unregulated spend is eliminated and budget accountability is established.
With proper requisitioning and purchase order approval process in place, invoices can be matched up quickly and electronically, without re-keying and unnecessary data entry. Invoice matching also ensure that adequate ‘’goods received’’ processes are in place and completed before payments for items are made.
With Unit4 Financials, you can be confident in the knowledge that you received what you ordered, and that you are paying only for what you actually received.
The procurement management functionality in Unit4 Financials brings better visibility and focus to the process and helps you consolidate purchasing activity with the best suppliers. This begins by driving adoption across a wider corporate audience, thanks to our solution’s intuitive interface for requisitioning and purchace orders. Its ease of use encourages users to embrace the new system, putting more spend under management.
The full volume of corporate buying activity can then be funnelled to the best suppliers - the ones offering the most appropriate balance of prices and services to meet your needs. The process is further facilitated by providing electronic catalogues to end users, containing items from the preferred suppliers and at the best process. Users can also ‘’punch out’’ to preferred supplier web sits and pull back chosen goods into the approval process. The result of all these capabilities is fewer suppliers to manage; more spend under management and lower overall item prices.
Unit4 Financials provides complete visibility over all your buying activity, arming your procurement managers with information for supplier negotiations. Managers can analyse buying activities by item, category, supplier, location, department, time of year and other user-defined criteria. With this valuable information in hand, they can negotiate more effectively with preferred suppliers. The valuable items are then published in centralised catalogues, where end users can benefit from the agreed prices and quantity discounts, to help make their budgets stretch further.
Requisitioning – instant familiarity for improved adoption and usability
Authorisation workflow – driving task completion and keeping participants informed.
Receiving and 3-way invoice matching – enhanced online purchase invoice matching and processing.
Visibility and budget control – fast, secure and transparent paperless procurement.
Ensure data accuracy with best-in-class architecture
At the heart of Unit4 Financials is a unique combination of system design and core capabilities that not only delivers
multi-everything global accounting but extends real-time financial visibility and control across your organisations’ people, processes and systems.
You and your colleagues can maintain effective financial control and ensure that key business decisions can be based on reliable, up-to-date information. Users enjoy real-time reporting, multi-dimensional analysis and a faster period close, and the solutions’ architecture clearly ties all the business systems, manual processes and authorisations for your organisations financial information.
This enables your financial software to take on a much more strategic role in managing your business. It also helps you adapt to constant business changes and mitigates the potential impact that change can have on your reports, processes, controls and systems.
Delivering Unrivalled software interoperability
Unit4 Financials was designed to serve as a financial information backbone for companies in fast-changing and mixed application environments. This is made possible by the unique architecture:
The single financial model – no sub-systems or sub-ledgers
Because the date in Unit4 Financials is held within one financial model, changes can be made effectively in one area, without: losing control, creating reporting problems or increasing the risk of noncompliance.
Interoperability – accounting as a web service
In order to manage operations more effectively, you need the ability to connect together any or all of their applications, in a federated ‘’best-in-class’’ approach to running the business.
The integration architecture is unique, using modern techniques such as web services and XML to provide secure, real-time integration to your operational systems (whether those are on-premise or cloud-based). In a best-in-class applicatiom ecosystem, the architecture exposes all business logic and financial validation to other applications, providing accounting functionality as an internal service or in an internal cloud, as needed.
Reporting is only as good as the underlying information model
It’s an old IT axiom, but ‘’garbage in – garbage out’’ is inescapably true for reporting. If the source of the information suffers from built-in inflexibility and inadequacy then the reporting tolls won’t help – no matter how sophisticated. Easy, yet powerful reporting starts with a robust financial information model, combined with the real-time nature of the single-ledger system provides the deepest and most agile reporting system available on the market today.
At its simplest level, financial analysis is about being able to see and communicate what is happening – quickly, clearly and accurately.
Whether you are measuring the profitability of a new product line or preparing consolidated financial statements, Unit4 Financials Provides both halves of the equation to help all your different users report on, model and analyse your business – in the ways that they need.
Enhance your reporting with Analyzer
Make simple work of the complex reports process with Analyzer, a browser-based tool that allows you to come up with accurate, customised and graphically illuminating reports in record time.
· Explore all your data
Use Analyzer’s in-memory analysis to reach all your Unit4 Financials data in minutes – including spreadsheets, departmental databases, and even external information sources.
· Seeing is believing
Produce impressive graphics with the interactive visualisation tools. Spot patterns, anomalies, and opportunities more easily than ever before.
· Customise, save and share
Create and save different filter sets for a range of targeted reports. Share the output with colleagues and stakeholders and ensure everyone is on the same page.
· The Vital Foundation of having a robust, flexible financial information model.
· A full array of reporting and business intelligence tools
Choose the right tool for the job
The important thing is to provide reporting and intelligence capabilities that match the needs and technology preferences of the many types of users in your organisation.
Unit4 Financials provides both general reporting tools and specific reporting functions, each designed for a particular purpose. You can choose from a complete spectrum of inquiry, reporting and business intelligence options: from built-in reporting and browsing functions, through to extended data warehousing and analysis solutions.
Users can be given instant access to the appropriate data, wherever or whenever they need it and by the most effective means, whether that’s via a company portal, a web browser, a Microsoft® Excel® spreadsheet or even embedded as part of another key business application.
Extend your Unit4 Financials Solution
We recognise that our customers often need to go beyond the capabilities of their core application, to support other organization-or industry-specific business requirements. To meet these needs, we offer a range of applications specifically for the office of the CFO, including:
Unit4 Time & Expense Management
Unit4 Time & Expense Management gives you a full visual overview and intuitive control of all hours spent on a project. The solution enables the accurate reporting, controlling and processing of working hours, even in times of change.
Our Unit4 Travel & Expenses software takes the pain out of submitting and tracking expenses. Enter transactions and receipt images on the go. Maintain complete visibility with seamless ERP and financial systems integration.
Click here for further information on Unit4 Travel & Expenses.
Unit4 Performance Management (prevero)
From one consistent platform, prevero, Budgeting & Planning enables you to control processes in a scalable, flexible way – without losing time to non-value-adding tasks. Whether you areplanning cash flow, managing operational budgets, or forecasting how sales, costs and revenue will develop throughout the year, prevero can deliver the power and flexibility you need.
Our integrated approach covers short-term, medium-term and long-term planning horizons, and a range of planning categories including: integrated financial planning, sales planning and production, and material and personnel planning. The solution comprises reporting and analysis and supports you with the latest planning tools, such as rolling forecasts, value-driver based planning or frontloading in short, frequent planning cycles.
Click here for further information on Unit4 Prevero