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10 Ways an Effective Financial Management Solution Facilitates Growth
The Essentials of an Effective Financial Management Solution
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Strong financial control is no longer an optional extra
BlueBridge One is a leader
in deploying NetSuite cloud-
based ERP, CRM and
Financials solutions that
integrate the diverse range
of activities across many of
today's businesses
Financial management across every
department needs to be buttoned
down and integrated to prevent
inefficiency denting the bottom line
and stifling growth.
In this slide deck we give an overview
of some of the key features and
benefits of a financial management
solution that enables control and
intelligence for businesses, including
wholesale distribution, manufacturing
and professional services companies.
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1. Core Financial Management Capabilities
Accounting Functionality needs to be comprehensive and provide scalability to accommodate growth, and flexibility to adapt to
needs such as independent closing and international subsidiaries
Cash Flow Management is critical to growth and important factors here include identifying Recurring Revenue, Revenue
Recognition Management and real-time visibility
Financial Planning and Reporting supports accurate and timely
decision making and is essential for meeting
compliance and regulatory standards
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2. Integrated Inventory Management, Fullfilment & Shipping
Inventory management is essential for preventing excess
inventory pushing up the cost of goods sold (COGS)
Good inventory management means keeping track of bin and lot
management, landed cost, demand based replenishment,
customer and volume pricing, and multi-location inventory
Integrating fulfilment and shipping eliminates manual re-entry and order processing errors, while
reducing annual shipping costs by up to 35%
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3. Low Total Cost of Ownership and Superior Ease of Use
• A single, fully integrated solution avoids the significant overheads of buying, maintaining and operating several disconnected on-premise applications
• A cloud-based financial management solution not only eliminates the need for multiple applications, it removes the need for in-house resources, including IT infrastructure and does not increase the workload on IT personnel
• Cost reduction typically ranges from 20% to 50% and productivity in other areas such as the sales channel may increase three-fold
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4. A Streamlined Order-to-Cash Process
An efficient Order-to-Cash process ensures profits
grow in line with expectation and demand
An efficient Order-to-Cash system means customer
and order data is only keyed once and then
populated throughout the system to achieve
fulfilment and back end accounting, including sales
commission calculations
A well-executed Order-to-Cash process leverages
greater economy of scale reducing the cost of
sales as growth gathers momentum
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5. Procure to Pay Processes
Procure-to-Pay integrates buying activity
and enables inventory and investment
purchasing that supports growth to be
properly accounted against cost centre
As Order-to-Cash simplifies life for sales ledger,
Procure-to-Pay eases purchase ledger and
means supplier and purchase order data is only
keyed once, eliminating errors and saving time
Purchase order automa.on enables automa.c re-‐ordering once stock
levels reach a pre-‐determined trigger point, op.mising inventory
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6. HR Process Management
The efficient hand-off of HR information to finance reduces
errors and saves time across the process that ensures salaries,
deductions, holidays and sickness are correctly calculated
Payroll integration ensures earnings, deductions, company
contributions and taxes are automatically worked out and that
tax reporting is easily obtained
Enabling employee self-service allows data changes made by
staff to be automatically captured and reconciled to the
system, reducing administrative time soak and costs
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7. Business Intelligence
1. An integrated financial solution across the business is the foundation that releases true business intelligence
3. Dashboards are real-time and based on a central repository of data, eliminating inconsistencies and inefficiency while saving time when compared with manual, spreadsheet based BI processes
2. Customised dashboards tailored to the role of each member of the finance team provides insight into key performance indicators
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8. Multi-Company and Global Business Management
A good solution for international operations also eliminates the cost and complexity that results from currency conversion and daily variations in FOREX rates
Sustaining growth may mean an expansion into new international territories and a solution purpose built for the needs of a multi-country business vastly simplifies cross border operations
Legal and tax compliance and integrated VAT or other local sales tax functionality increases accuracy while eliminating the need for manual, error prone processes and costs
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9. Adaptability to specific business models
• Even within the same sector, no two businesses have
identical needs and cloud-based solutions need to be as
adaptable, flexible and configurable as possible
• The financial management solution needs to be able to
address the unique needs of each individual business
• Flexible workflow management enables companies in
different sectors to align the solution with the varying
needs of their business models
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1 10. Project Accounting and
Contracts Management
Central to simplifying this is
a good project to bill process
that identifies when
deliverables have been
completed and request for payment can be initiated
Companies providing
project or contract based
services probably have
the most complex
business models, creating problems for finance
A fully integrated project
to bill process responds in
real-time optimising billing
and automating payment
schedules required for multi-staged projects
2 3
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Summary
• A truly integrated financial management system centralises
financial control and efficiency, maximising profitability
• Integration brings together, simplifies and automates
business processes, improves accuracy and delivers
intelligence while allowing your staff to perform their jobs
much quicker
• An adaptable, cloud-based solution rich in business
planning, system integration and reporting capabilities best
facilitates business growth
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Download the full paper
Find out more by downloading the full white paper at:
http://www.bluebridgeone.com/s.nl/it.I/id.117/.f
Find out more about BlueBridge One
Visit us at www.bluebridgeone.com or call 08008 620 243 to find out how we deliver
the benefits of NetSuite to UK companies that demand service and support appropriate to
the pivotal role ERP, CRM and Financials play in their businesses.
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