It is no secret that EFP is a robust tool for income statements, balance sheets, and for cash flow statements. However, for those that are not aware – there is more to Epicor Financial Planner than meets the eye.
Most of our customers are always surprised by the capabilities of EFP beyond what is advertised. EFP offers a whole lot of extra value.
For example, EFP makes auditing simpler and faster because auditors can get direct access to data through EFP´s drill through functionality, its investigate feature, and slice and dice functionalities. Through these features, figures in the reports can be easily traced without needing to perform tedious data extracts.
EFP, for those who are not aware, is now in the cloud and because of this accessibility, auditors can now also test as often as they want throughout the year without having to wait for year end.
The tables and graphs in EFP also allow auditors to easily do comparisons and variance analysis around accounts or processes or even products and units.
If you already have a reporting solution in place, you will find that EFP has reporting capabilities that are as robust as its budgeting capabilities. This is one of the major reasons that most consultants highly recommend EFP to businesses both for budgeting and reporting because you will only need 1 tool to handle your end to end accounting process. You not only get a robust solution, you also save in on the costs of having only 1 platform to do both.
In addition, more than just allowing you to create reports, EFP also looks into several key business questions such as substantial issues in account reconciliations and account variances that may need further investigation. This allows you to properly identify and assess risks in the horizon.
EFP prides itself in not just delivering best practices in the financial planning and analysis arena through prepackaged logic, it takes pride in the fact that it can elevate your organization´s risk and controls as it tries to steer your organization towards financial process excellence.
Visit www.dsp.se to find out more about EFP or to request for a free 30-day trial.