Epicor Financial Management The combination of a competitive, global environment and mandatory regulatory compliance makes successfully managing your finances one of the biggest challenges you face. Epicor Financial Management offers a refreshing new approach to business, a suite of accounting applications built for the highly regulated post-Sarbanes-Oxley Act world, built around a series of “global engines” that support effective financial management and control anywhere.
Epicor’s Financial Management software solutions deliver manufacturers the tools and functions necessary for creating value through monitoring financial conditions and decision making. Easily monitor and track invoicing, payments, asset management, payroll and benefits in order to cut costs and improve cash flow. Epicor’s financial modules can assist you in boosting your bottom line-the definitive test of your success and competitive advantage.
Epicor Financial Management tools include:
Global Engines
General Ledger
Accounts Payable
Accounts Receivable
Tax Connect
Credit Card Processing
Multi-Currency Management
Multi-Company Management
Fixed Assets Management
Cash Management
Epicor Financial Management is distinguished by its broad focus on managing processes and resources, both within and across locations, companies and global boundaries.
Global Engines Epicor Financial Management is built around a series of unique global engines, which in turn support the global nature of business today, enabling effective operations in existing and new markets as necessary. As your business is extended through a combination of organic growth, mergers and acquisitions it can become challenged by complex and demanding global financial and regulatory burdens – demands that you must adapt to instantaneously. At the heart of the Epicor solution, Epicor global engines are designed to add accounting agility and flexibility to your business while simultaneously allowing you to meet the local financial and legal compliance requirements of individual markets.
General Ledger Epicor General Ledger is the heart of Epicor Financial Management, processing and posting all accounting transactions created throughout Epicor applications, as well as entries made directly within the ledger. While it is seldom accessed outside of the accounting and tax departments, the General Ledger's impact is felt throughout an entire enterprise. The information and controls which flow from the General Ledger system enable an organization to operate efficiently, comply with fiscal regulations, underpin strong corporate governance and drive enterprise performance. General Ledger provides the accounting controls and system security necessary to help ensure the integrity of your company's financial data.
Accounts Payable Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, then create checks for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier or only for specific invoices. If a supplier calls you to discuss an invoice, you will have complete information at your fingertips and that history can be kept indefinitely.
Accounts Payable allows you to update both purchase orders in Purchase Management as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With Accounts Payable, you will know how much you owe and when it is due.
Accounts Receivable Accounts Receivable (AR) provides a comprehensive set of tools to manage your invoicing, credit, cash management and customer management needs. Because you can specify the creation of invoices through the order release process, you can reduce billing for a different quantity than was actually shipped. With Accounts Receivable you know who is buying what and who is paying their bills on time.
Tax Connect Sales tax is a government-required, compulsory activity. It doesn’t drive revenue and it doesn’t reduce expenses. So any time or money spent on tax compliance is, by nature, non-profitable. There are more than 12,500 United States and Canadian tax jurisdictions alone and the rates, rules and boundaries change relentlessly. Keeping up with all of the tax changes is an operational distraction and a drag on the efficiency of your organization.
Epicor Tax Connect eliminates the tedious work and complexity of determining sales tax jurisdictions of ship-to addresses, maintaining tax codes and rates and dealing with jurisdiction-specific and commodity-specific taxation rules. Tax Connect also provides for automated generation of sales tax returns and currently supports the United States and Canada. Epicor Tax Connect is offered as a software-as-a-service (SaaS), on-demand address validation, sales tax calculation and sales tax reporting and returns generation.
Credit Card Processing Epicor Credit Card Processing is an optional global solution that integrates with industry-leading credit card processing solutions for managing credit card authorization and processing. Epicor Credit Card Processing also implements the security guidelines as specified in the Payment Card Industry Data Security Standard including securely encrypted account numbers and key management.
Epicor Credit Card Processing includes easy to use maintenance for initial setup along with a variety of integration points to bring an easily deployable solution to your business.
Multi-Currency Management Multi-Currency Management automates the process of both buying and selling in foreign currencies. With tracking of default currencies as well as extensive exchange rate tables, manual transactions are reduced. Lock transactions in at a specified rate with automatic gain or loss reporting, reducing the guesswork from handling foreign transactions.
Multi-Company Management Whether through acquisition or organic growth, more and more companies are wrestling with the complexities of managing multiple business entities. Epicor understands that managing disparate business units offers unique challenges and opportunities with respect to consolidation for tighter control and reduced operational cost, enterprise wide visibility, inter-company supply chain management and financial consolidation. Epicor Multi-Company Management capabilities can assist your business in consolidating operations such as procurement and accounts payable as well as offer enhanced tools to improve operational visibility across companies.
Automation of inter-company financial transactions as well as financial recognition optimizes enterprise performance to shorten lead times on key product lines. Additionally, from a financial perspective, multi-company organizations may choose to not only report as individual entities but also consolidate multiple currencies and report across business entities to a single consolidation company.
Asset Management Effective asset management is a critical business requirement. Fixed Assets helps you record, track and depreciate your fixed assets for optimal utilization.
Cash Management Improve cash management through the automatic handling and reporting of discounts available, payment due dates and payment selection methods.
