As your business grows, your finances often become very complex. Maybe you have expanded to new territories, added new products and services, or changed billing methods. In any of these cases, you need a flexible solution that meets your growing business demands. Release 3 provides the most flexibility in order to meet your business needs and challenges.
Release 3 Highlights
Until recently, accounting solutions have not provided the ability to decentralize consolidations. Historically, consolidations have been the job of corporate headquarters. Granting access to regions to run their own consolidations would mean giving the entire company access. This is something most companies will not do. This can become an issue when various regions need access to more timely reporting. Release 3 allows you to grant access to designated users to independently run their own consolidations.
Managing expenses is critical to all businesses in order to maintain profit margins. With expenses coming through purchasing, accounts payable, and general ledger, it can be difficult to keep track of all of them. Spend Management helps keep spending on target with budgets by using proactive online and email warnings. This feature allows you to control spending across purchasing, accounts payable, and general ledger. You can compare various budgets, time periods, level of detail, dimensions, or transaction types. This provides you with plenty of flexibility to fit your specific business needs.
Release 3 uses prebuilt compliance reports that can be tailored to fit your nonprofits needs. This will save you time by not having to create reports from scratch. The prebuilt Compliance and Disclosures Dashboards provide a centralized location for both your quantitative and qualitative information. Having all of your information in one place will make telling your story to the board and other stakeholders simple and efficient.
When integrating multiple systems, the integration process should be seamless for the user and as accurate as possible. With configurable layouts and smarter synchronization, new features in Release 3 allow you to achieve a seamless and accurate integration.
With complex contracts, managing the billing and revenue can become complicated. You need an accounting that automates various scenarios you could encounter. Release 3 adds support for cases in multi-element arrangements. It also adds more billing options, renewal options, and billing scheduling behavior. These changes will save you time and help your business operate more efficiently.
If the old ways are now less effective, then what ideas and technologies are replacing them? Industry leading finance teams are using the following three approaches for achieving a timelier, higher quality analysis and reporting paradigm. Let’s explore each of the three new approaches. #1 Close Faster to Enable Real-Time Reporting The faster close has
The medical cannabis industry is in an unprecedented state of growth, so businesses operating in this space need scalable industry solutions that can grow with them as they expand. Medical cannabis operators with industry-specific business management software have the flexibility they need to widen their reach to include new territories and patients while also expanding