Financial Management Suite

Robocom’s Next Generation Financial Management Suite offers a robust trio of engines that allows distributors to streamline operations, access information, and enable accountability in critical financial management processes. The Financial Management Suite provides crucial information to optimize decision making, and the automated transaction functionality needed to drive down financial management costs.

Distributors will optimize their profitability with accurate and effective financial management by:     Illustrated magnifying glass looking at a box

Improving Customer Relationships

  • Manage accounts efficiently with online statistical accounts receivable data
  • Generate up-to-date information for customers about their accounts
  • Identify problems before they occur by reviewing detailed receivables information

Reducing Operating Costs

  • Set-up and control customer records according to operating policies
  • Monitor receivables and take necessary action to enhance cash flow
  • Keep accurate information about money owed, due dates, and available discounts
  • Take advantage of terms and discounts and track payments to ensure they are made only once
  • Choose tax, aging, and fiscal year options to match the way you run your business
  • Be assured that a complete audit trail is beneath your business transactions

Increasing Organizational Efficiency

  • Group customers by classes for credit and cash application in a single action            3d illustration of a rising arrow on a graph
  • Accelerate data entry by populating the data fields ahead of time with user-definable default values
  • Enter debit and credit adjustment transactions that automatically update vendor and operator balances
  • Automate activities for payment selection and scheduling, recurring entries, check writing, check reconciliation, and electronic payments
  • Establish a chart of accounts according to the way your business operates
  • Streamline closing processes by automating routine activities, allocations, and reports

Accounts Receivable - Fully integrated with Sales Order Management, Accounts Receivable provides credit criteria, cash application, dispute handling, and extensive inquiry capabilities to help manage your customer’s accounts and with minimal paperwork.  Customers can be grouped for credit and cash application purposes.  Then, a received payment can be applied to one or more customer accounts in a variety of ways.

Key Accounts Receivable Functionality

  • Analysis of financial information by division or department
  • Proxima and fixed date terms
  • Partial payments, multiple discounts, write-offs, split checks, non-A/R cash, charge-backs, deposits, returned checks and on account transactions
  • Parent/child relationships maintained
  • User-defined auto cash application rules
  • Finance charge fees are applied automatically
  • Dispute handling processes
  • User-defined aging buckets and separately aging disputed invoices
  • Extensive inquiry options
  • Average days to pay by period and overall customer average

Accounts Payable – Invoice matching, payment scheduling, and check writing are included in the Accounts Payable module. Invoice data is verified with corresponding purchase orders and receipts through integration with Purchasing Management. Payments are authorized and scheduled with checks or electronic fund transfers (EFTs). Multiple inquiry and review capabilities allow your organization quick access to critical financial records.

Key Accounts Payable Functionality     

  • Analysis of financial information by department and division         
  • Accrual or cash basis accounting methods
  • Three-way matching, non-matching, and quick expense entry options
  • Split or scheduled payments
  • Recurring payments
  • Manual check entry
  • Check runs
  • On-line check register
  • Dispute processing

General Ledger – Summary and detailed financial information on multiple levels for easy, convenient financial management are provided in the General Ledger module.  A chart of accounts enables your organization to post journal entries automatically, create recurring entries, and reverse them automatically or manually.  Maintaining fiscal year and time periods is fast and easy, and you can access your General Ledger data with a robust set of query options.

Key General Ledger Functionality

  • Analysis of financial information by department, division or corporation     4 gold cogs working together
  • 25 character account ID made up of division, department and G/L account number
  • An unlimited number of accounting periods may be open simultaneously
  • Multiple categories like assets, equity, expense, liability, and revenue
  • Copy function for quick chart configuration
  • Automatic G/L postings based on allocations scheduled for each period
  • Manual or automatic profit entries
  • Budgets
  • Multiple on-line journal, activity, and budget inquiries
  • Extensive list of standard reports

Nothing gives you the ease and confidence in keeping accurate track of revenue and expenses like a fully integrated, highly automated financial management solution.  With its robust functionality and highly configurable setup options, the Next Generation Financial Management Suite is the backbone of your business management system.

Interested in learning more? Request more information today and see how Robocom’s Next Generation ERP software can help your distribution business.

 

"Technology is very, very important to our business. What Robocom did with Next Generation was provide us with the tools to service our customers and to put the metrics in place to see how we were doing with the numbers."

 CEO, Robocom Customer

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