If your business is still spending a significant number of hours manually tracking your financial planning & analysis (FP&A) processes, it is perhaps time to rethink your ways and your use of technology.
Spending too much staff time on menial tasks such as data entry, data validation, formula-checking or broken macros fixing is not only demotivating for your finance staff, it is also a complete waste of opportunity for your business.
This is one of the reasons why Epicor is putting forward its newest integrated cloud-based accounting automation software called Epicor Financial Planner 2.0 or the cloud EFP.
EFP is Epicor´s newest cloud FP&A automation software that natively integrates with Epicor ERP, iScala, and Epicor Enterprise. It also works as a stand-alone option for those who prefer it.
The main goal of this budgeting and reporting platform is to ensure senior management gets the needed decision-making support through readily available business insights.
How does this work?
- Onpremise Connector/REST services connector
– It doesn´t matter whether your ERP system is in the cloud or installed on premises. EFP has built-in connectors that will allow it to connect directly to your cloud ERP system via REST services or it will connect directly to your on premises ERP system through its onprem connector.
- Automation of Accounting tasks
– EFP primarily makes sure that tasks such as journal entry, matching, tasks management, variance analysis, reconciliations are automated. EFP basically incorporates globally-acknowledged best practices in the budgeting and reporting arena into the platform itself so that the business can spend less time on developing rules rather the business can spend more time on actual financial control and automation.
- Multiple Support
– EFP was designed from the ground up to support multiple companies, multiple scenarios, multiple currencies, and multiple systems. The idea is that should your business decide to use EFP, it should only need 1 unified solution that could handle the different layers of complexity brought about by having several entities, currencies, and scenarios. All these must be supported without demanding a great deal of customization.
- Immediate Value
– With EFP, gone are the days when it was acceptable to implement an accounting solution for months. For those running on cloud ERP systems, install and setup can literally only take 5 minutes and then you immediately get budgets vs actuals and live forecasts. For those running their ERP on premises, it takes a bit longer than the cloud ERP systems but we are still only talking hours/ days not weeks and definitely not months.
- The Cloud Advantage
– Epicor´s newest integrated accounting automation software, EFP, is in the cloud so that its users can avail of the benefits – access anytime, anywhere, role-based user security, automated updates or patching, 99.9% uptime, and robust functionalities.
If your business is serious about reducing or fully eliminating menial tasks that add very little to no value to the business, looking at Epicor´s newest cloud software – EFP is the logical first step. To know more about how your organization can achieve improved transparency and accountability, improved accuracy, and improved team collaboration – visit www.dsp.se or email firstname.lastname@example.org to request a quick product tour.