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.