How to Simplify Your Financial Management

We advise many businesses on the use of software to simplify financial management. What we’ve seen is that managers sometimes inadvertently create a silo between general operations management and financial management. This is understandable, given how separate and specialized accounting and finance used to be. Today, however, with advances in Enterprise Resource Planning (ERP) solutions like Sage 100cloud, it is possible to simplify financial management while integrating it with other areas of business management like distribution and sales.

Sage 100cloud, formerly known as MAS 90/200, goes beyond standard accounting functionality. It has that, of course, and does it well. There’s more though. It enables you to manage all business processes in one place. It helps break apart siloes that separate workflows and data. The software does this with a customizable user interface (UI), mobile access and add-ons that let you automate your business processes—including financial management and accounting.

Simplifying financial management

Sage 100cloud offers a variety of specific functions that make financial management more efficient. People who work in accounting and finance can become more productive through use of the solution. Highlights include:

• Automated bank feeds and reconciliation—managing bank feeds and performing account reconciliation can be time-consuming. Sage 100cloud offers a solution to this difficulty with simple, accurate monthly bank reconciliations. Features include automated detection of unrecorded transactions. The toolset can also spot errors and differences. It’s a system that is built for compliance. Sage 100cloud keeps track of relevant tax codes and provides audit histories and reports required for government agencies.

• Custom Office and Visual Integrator—Sage 100cloud has custom scripting capabilities. These enable you to import data from other platforms. With this, Sage can inter-operate with a variety of systems in the business. Customized UIs make it possible to add new data fields and collect information you need to make financial management and the broader business operations more efficient.

• Sage Contact—This module enables users to view customer and vendor information on any device with Microsoft Outlook. For instance, an accounting user could resolve a customer billing question on a smart phone while out of the office. Improved customer experience is a benefit of this feature. You can also customize permissions for accessing customer information, e.g. who has the privilege of seeing a customer’s available credit and outstanding balances?

• Sage Budgeting & Planning—Financial managers are integral to the business planning and budgeting processes. Sage 100cloud aligns operational and strategic decision-making through advanced planning features. Users can shorten budgeting and planning cycles—allowing senior managers to make well-informed, quick decisions. The integrative nature of the solution allows for collaboration between different business groups.

• Sage Intelligence—Financial data is essential for business strategy and day-to-day management. With Sage Intelligence, financial managers can visualize financial data and produce reports for other stakeholders. Reports can be customized and automated with Sage Paperless Office.

Let us work with you to identify how Sage 100cloud can simplify financial management for your business. We have a long history of consulting on financial management and training companies on best practices for the solution. Contact us for a free consultation and demo of Sage 100cloud.