Financial Management for IFS Applications 10

Accounts Payable Module

IFS Accounts Payable™ simplifies handling of your supplier invoice and payment routines and is integrated with accounting rules and purchasing functionality for matching purposes. Support for self-billing reduces invoice handling. A variety of currency and payment options contributes to the flexibility of the component while the follow-up and analysis capabilities ensure full control.

Accounts Receivable Module

IFS Accounts Receivable™ simplifies customer invoicing and payment processes. It automatically handles coding of routine transactions. It also provides powerful customer credit monitoring capabilities. Integrated with sales orders and accounting rules functionality, it helps you minimize errors and simplify routines.

Budget Management Module

IFS Budget Management™ is a powerful tool for managing the planning, budgeting, and forecasting workflow in IFS Applications. It can be used to set your corporate strategy with enterprise-wide drivers and assumptions for the budgeting process, as well as to set targets for the scorecard and budget templates. Support for continuous planning and rolling forecasting allows the user to monitor and update the process at all stages.

Business Planning Module

IFS Business Planning™ supports the process of creating budgets, forecasts and other financial plans, both for individual companies and on a consolidated level. IFS Business Planning offers an integrated and centrally controlled planning engine that supports demand driven planning, based on customer defined planning models. Organizations can have purpose-built planning formats to handle different needs, all the way from personnel planning, revenue and cost planning to the balance sheet and cash flow. Different scenarios based on different assumptions can be managed and compared.

Cash Flow Module

IFS Cash Flow™ offers you flexible liquidity analyses based on a variety of scenarios that you select. Use sales orders, purchase orders, accounts receivable and payable to generate projections of your cash position. Use this information to analyze your company for better cash management and strategic decision-making. In addition, amounts can be handled in your base currency or in the transaction currencies involved.

Consolidation Module

IFS Consolidation™ enables you to consolidate balances from any number of companies at any number of levels, regardless of charts of accounts and reporting currencies used. IFS Consolidation can be done in multiple corporate structures for operational and managerial purposes. The consolidation process, which can be executed for a single structure node or the complete structure at once, includes automated support for ownership and intercompany elimination. As this component is an integrated part of IFS Applications, it is possible to capture subsidiary balances at any time and directly drill down to underlying 

Financial Summary / Features Module

IFS Financials, an integrated part of IFS Applications, brings together your financial activities, no matter how diversified, because by design it is a multi-company business application that can handle parallel companies over a wide range of currencies, legislations, business models and accounting principles. With IFS Financials, you get end-to-end integration. All your business-critical information is accessible in real time, so you can accurately measure business performance, make key decisions quickly and be in full possession of the facts to support your growth plans, now and in the future.

Fixed Assets Module

IFS Fixed Assets™ makes it easier to strategically manage your company’s fixed assets. A fully integrated accounting tool, it includes multi-country support for depreciation methods, making it the perfect fixed asset tool for a global organization.

General Ledger Module

IFS General Ledger™ ensures you have a solid base for financial analysis and reporting, plus powerful simulation capabilities, including multiple general ledgers and advanced distribution rules. It helps you to gather and consolidate financial events from all systems and subsidiaries within a corporate group.

Project Finance Module

IFS Project Finance™ gives you a continuous view of a project from a financial perspective over any number of years, both when the project is ongoing and after it has been closed. You can also drill down into the data to the source of the transaction for a more detailed analysis. The integrated project accounting rules support different methods of capitalization and revenue recognition requirements.