Transcription
Epicor FinancialManagement
Take your business to the next level by breakingdown business barriers with end-to-end visibility,productivity, and results.
Table of ContentsEpicor Suite and Module Diagram . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Financial Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Enterprise Performance Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Governance, Risk, and Compliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Business Architecture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32Global Business Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Epicor Financial ManagementSoftware for Today’s DynamicBusiness ClimateFinancial ManagementExpertiseEpicor Financial Management is designed to address thevarious financial and governance, risk and compliance (GRC)challenges encountered in today’s ever changing, dynamicbusiness climate. Epicor has been providing industry-leadingsolutions to companies around the globe for more than 25years. Scalable and modular, with rich feature sets, EpicorFinancial Management can support your company’s growthwith rapid implementation and easy expansion, no matter thesize or diversity of your organization.Achieving financial visibility and effective controls withinthe enterprise can be a formidable challenge when manyof the processes and procedures in place remain manualand fragmented. With the increasing number of worldwidecompliance regulations, corporate financial visibility hasbecome necessary for any size organization—public, private,and non-profit. Regulatory bodies and audit firms alladvocate the need for improved financial managementand visibility. Epicor Financial Management is uniquelypositioned to manage financial and GRC requirements acrossall major industries.Sound enterprise financial management practices shouldautomate and streamline your financial business processesby providing tools that create value through monitoringfinancial conditions for timely decision making. To this end,your enterprise financial management applications furnishthe single, integrated repository of data that provides anaccurate view of all your financial data, including a 360-degreeview of your customers—from consolidated orders to invoicesto payments.An extended financial management ERP solution managesprocesses across your value chain. Some of the results of thiscoordinated effort that help you achieve the maximum returnon investment with the shortest payback period include: Improving data accuracy and consistency Improving cash flow performance from operations Improving financial transparency company-wide Enforcing global financial standards across the organization Increasing loyalty of your customers by responding fasterand more effectivelyEpicor Financial Management offers powerful, yet easy-touse financial solutions to organizations worldwide. Thesecomprehensive solutions are loaded with innovative toolsto synchronize and consolidate financial transactions,provide financial visibility and support corporate GRCinitiatives as a means to reach new, industry-leading levelsof business performance.2
Sound Financial Management.Better Business Results.Epicor’s goal is to help you efficiently achieve soundfinancial management and control. A full range of financialmanagement capabilities—general ledger, accountspayable, accounts receivable, cash management, expensemanagement, and tax management—furnish the controlsand real-time financial information you need to manageyour finances efficiently, comply with fiscal regulations, andmaintain strong governance.Operational financial data can also be turned into actionableanalytics that drive business results. Epicor’s data warehousingand replication create a consistent, consolidated data storethat supports analyses across your organization. And Epicoradvanced financial reporting, budgeting, planning, andforecasting enable you to test business scenarios beforedeployment. Intuitive, customizable dashboards integratemonitoring and analytics, including scorecards, KPIs, alerts,and ad hoc reporting, and allow drill downs into any part ofthe system, making it easy to track business health anddrive execution.Unified GRC: Reducing Risks,Driving EfficienciesApplication-level risk mitigation tools, business processmanagement, and business analytics built into Epicor helpyour organization document internal controls, providesecure workflow automation and audit trails, and achievetimely visibility into and disclosure of accurate financialand operational data. Comprehensive security restrictsdata and application access while automated alerting andBusiness Process Management event capabilities assist yourorganization in mitigating security issues in a timely andeffective manner.Organizations of all sizes and types are struggling to complywith regulations and manage the risks and penalties of failingto operate within the rules. Compliance efforts are oftenmanual, fragmented, and ineffective. Epicor GRC providesan integrated, end-to-end solution that provides a single,verifiable set of financial and operational metrics. By allowingyou to manage and mitigate risk across your organization,Epicor helps you stay compliant, minimize exposure to riskand penalties from compliance failure, reduce the time andresources required for compliance, and ultimately operatemore efficiently.At the same time, while government incentives to improveenergy conservation are still in their infancy, many businessesare finding that these initiatives deliver real businessopportunities and bottom-line savings while meeting customerdemands. Epicor supports strategic sourcing and procurement,logistics, application of lean principles and virtualizationto help your organization become a better steward of theenvironment, and extend the tangible benefits of corporatesocial responsibility through the extended supply chain.3
Raising Technology to theBusiness LevelEpicor’s application of industry-leading technologies isat the core of its solution for worldwide organizations.Epicor is the foundation upon which businesses executestrategies and achieve objectives, operating seamlessly andeffectively in the background and enabling highly optimizedbusiness productivity.Epicor has been a consistent leader and innovator forglobal enterprise resource planning (ERP) solutions builtentirely on a true service-oriented architecture (EpicorTrue SOA ). Using this approach, “services” are selfcontained, platform independent, pieces of businesslogic that can be dynamically located, invoked and usedto configure and reconfigure processes, and improveintegration of applications.Quite simply, by using enterprise applications based ona SOA, organizations can easily add new functionality ina highly granular fashion, as they need it, and can easilyreconfigure workflows with minimal integration costs orimpact on their business operations. Organizations canpurchase just what they need today with minimum risk.4
Designed for People. Built forChange. Ready for Business.Forrester Research has asserted that next-generationenterprise applications are not just built for change butare designed for people1 and will be transformed by theplatform developments of companies like Microsoft, bysocial computing design approaches and applications, andby enterprise Web 2.0 tools that drive user experiences.Business Anywhere: GlobalSolutions, Local ExpertiseEpicor’s industry-leading technology framework is whatdrives Epicor next-generation enterprise applications andmelds Epicor True SOA and Web 2.0 to not only meetbusiness requirements today, but offer the flexibility toaccommodate unseen opportunities in the future.You face intense competition—from booming multinationalsto aggressive, nimble smaller companies down the street.Epicor’s solutions are tailored to meet the unique needsof companies across a broad range of industries andsectors including distribution, hospitality, manufacturing,retail, and business services. We have offices around theworld gathering requirements, developing applications,implementing software, and helping companies deploy bestpractices to compete and comply in their markets.Epicor’s next-generation applications take businesses to thenext level by leveraging innovative consumer Web conceptsto deliver an agile, adaptable business resource that ensuresmaximum business productivity with minimal overhead. Itis a resource that will not only grow and change with yourbusiness, but is designed to help you optimize your mostimportant resources.Epicor provides a consistent single-solution approach thatintegrates your corporate ERP with your divisions andoperating locations. Epicor’s SOA-enabled, embeddedMaster Data Management automatically ensures real-timeconsistency and accuracy of multi-entity, multisite datathroughout the enterprise. Country-specific functionalitycaters to local financial and legal compliance requirementsof individual markets worldwide, incorporating 19 locallanguages, multiple currencies and exchange rates, andconfigurable tax and posting processes. As countriestransition to International Financial Reporting Standards(IFRS), Epicor enables enterprises to maintain and reporton multiple accounting books supporting IFRS andexisting local Generally Accepted Accounting Principles(GAAP) concurrently.1The world-class capabilities of Epicor applications enablethe local, regional or centralized deployment of standardprocesses within a consistent, pervasive security framework.This ensures that operational information produced locally,from forecast to financials, cascades upwards into a singleconsolidated view of global activities that accurately reflectsyour organization’s performance.The Dynamic Business Applications Imperative, Forrester Research, Inc., September 20075
Epicor Suite and Module DiagramFinancial ManagemeGeneral LedgerAccounts PayableAccounts ReceivableCash ManagementExpense ManagementCustomer Relationship ManagementContact ManagementLead and Opportunity ManagementCase ManagementMarketing ManagementMobile ConnectSales ManagementEstimate and Quote ManagementOrder ManagementStorefrontHuman Capital ManagementPayrollHuman Resource ManagementTraining and RecruitmentEmployee Self-ServiceEnterprise Performance ManagementAdvanced Financial ReportingBudgeting, Planning and ForecastingOperational Data Store and Data WarehousingScorecards and KPIsTrackers and Dashboards6Governance, Risk, and ComplianceRisk ManagementSecurity ManagementCorporate GovernanceGlobal Trade ComplianceEnvironmental and Energy ManagementBusSeMWOSa
entAsset ManagementConsolidations and EliminationsTax ConnectAdvanced AllocationsSupply Chain ManagementProcurementShipping and ReceivingPurchase ManagementStrategic SourcingInventory ManagementProject ManagementProject ManagementResource ManagementProject BillingTime Managementiness Architectureervice-Oriented ArchitectureMicrosoft .NET FrameworkWeb ServicesOperating System and Database IndependenceaaS, Hosted, and On-Premise DeliveryGlobal Business ManagementBusiness Process ManagementInformation WorkerService ConnectPortalWeb 2.0Multicompany ManagementGlobal Multisite ManagementMultilingual Data ManagementMaster Data ManagementMulticurrency Management7
FinancialManagementGeneral LedgerAccounts PayableAccounts ReceivableRebatesTax Connect Cash ManagementCredit Card ProcessingMulticurrency ManagementMulticompany ManagementFixed Asset ManagementEpicor Financial Management offers a refreshing new approach to business, a suite of accounting applications built forthe highly regulated post-Sarbanes-Oxley Act world, built around a series of “global engines“ that support effectivefinancial management and control anywhere.Our goal is to help every business achieve sound financial management and control, from a single general ledger to theextended global enterprise, efficiently. Epicor Financial Management gives you access to real-time fiscal information andprovides the modern platform you need to support business around the world.General LedgerReporting Currency: Have a different reporting currencytied to each book and even, if ever needed, assign a differentperiod calendar to each book. This flexibility allows users witha single journal to process both the management accountsand the statutory accounts at the same time without the needfor multiple transaction entry.Epicor General Ledger (GL) is the heart of Epicor FinancialManagement, processing and posting all accountingtransactions created throughout Epicor applications, as wellas entries made directly within the ledger. While it is seldomaccessed outside of the accounting and tax departments,the General Ledger’s impact is felt throughout an entireenterprise. The information and controls which flow fromthe General Ledger system enable an organization to operateefficiently, comply with fiscal regulations, underpin strongcorporate governance, and drive enterprise performance.General Ledger provides the accounting controls and systemsecurity necessary to help ensure the integrity of yourcompany’s financial data.Multiple Closing Calendars: As businesses acquire newbusinesses there is often a need to maintain differentcalendars for “stub“ periods or for example up to 18 monthsto bring the acquired company in line with the fiscal calendarof the acquiring business. Each established book can operate acompletely independent fiscal calendar as applicable.Calendar Adjustment Period: General Ledger has built-insupport for an additional year-end period to be defined as apart of your calendar that will be used for year-endadjusting entries.Multiple BooksAt the core of the General Ledger, Epicor FinancialManagement provides flexible financial accountingrepresentations through multiple book functionality,which flows all the way through to financial reports andstatements. “Multiple Books“ allows the establishmentof unlimited financial books to support a wide variety offinancial requirements, such as budgeting and forecasting,statutory and government accounting versus managementaccounting (for example, US GAAP and non-GAAP, etc), andcomprehensive consolidations. Epicor Financial Managementprovides the tools to seamlessly handle the accountingrepresentations from your various subsidiaries while at thesame time giving you a consolidated view of the one versionof the financial truth for your organization.Chart of AccountsEpicor Financial Management allows up to 20 user-definablesegments within the chart of accounts (COA). These canbe used for accounting and reference purposes providingthe ability to record, store, allocate and report on importantfinancial data at a highly granular level. With a total of 200characters available, Epicor gives you the flexibility to manageyour financial operations exactly as you need.Balance ControlsEpicor Financial Management allows users to define thefrequency at which balances on accounts are captured andstored. Often used to facilitate the calculation of AverageDaily Balances (ADB), this flexibility enables the user toupdate account balances as frequently as required by theorganization: by hour, by day, by week, or by month.Key highlights and benefits of using Multiple Books withinyour company:Chart of Accounts: Create different chart of accounts bybook, post transactions to different accounts within differentbooks simultaneously using the posting engine.Consolidations and EliminationsEpicor Financial Management meets the needs of businessestoday through integral financial consolidation at either asummary or detailed transaction level, providing the flexibilityto consolidate from different books and/or companies within adefined relationship.8
Merge balances (and underlying transactions) from oneor more books into a single consolidated view of financialinformation, from which financial reports may be prepared,while at the same time creating the supporting eliminationjournal entries as a result of the process.Inter-Company JournalsInter-company journals reference accounts in other companieswhich have been flagged as globally available for postingtransactions. Corresponding inter-company control accountsare updated upon posting in the source company. Once thetransactions have been initiated, a General Journal is thencreated in the target company, posting to the appropriateaccounts and initiating off-set journal entries to theintercompany accounts. Re-measure accounting transactions and financial resultsbased on the differences in the consolidated currenciesusing differing rates types (spot, fixed, etc.).Financial Report WriterThis Financial Report Writer offers the ability to report acrossone or multiple books, extract, manage and arithmeticallyhandle data calculations, format reports based on userdefinitions, and publish results with corresponding formats toMicrosoft Excel if required.Account TrackerShow the current activity and balances for the period youspecify. Locate an account through word search capabilities.Summarize view with options to drill down to account detailand supporting journal entries.Flexible Posting PeriodsPost entries to any period in the current year, following year,or any subsequent year as required, even while the currentperiod remains open.BudgetsEnter figures for any account and year. Globally updatebudgets by percentage. Enhanced capabilities for budgetingare provided via Epicor Enterprise Performance Management.StatementsPrint comparisons between current actuals and budgets orprevious actuals.AllocationsAutomate allocation of funds across multiple accounts withoutmanual entry.Advanced Financial ReportingOffered as part of Epicor EPM, Epicor advanced financialreporting provides robust financial statements and userdefinable reporting capabilities. Advanced financial reportingperforms many financial analytical functions including:Gain complete control over management and financial reports, such as trial balances, income statements,and balance sheets.Validation RulesValidation rules can be configured to control what gets postedto the General Ledger from the sub-ledgers. The system willthen control how transaction events are cleared to post, willnot post, or will issue a warning before posting. Advanced financial intelligence. Hierarchies can be definedto facilitate the creation of different views of your business.Business users can create management, legal, and softconsolidated reports.Post-Year-End Transactions and AdjustmentsA discrete adjustment period enables accounting and financepersonnel to make post-year-end adjustments such asmanagement, audit, or tax journals supplementary to thedefined fiscal calendar. This enhances audit controls whileensuring that rolled forward financial accounts, includingconsolidation books and retained earnings balances, areupdated accordingly. Strong support for regulatory compliance. Advancedfinancial reporting helps organizations support generallyaccepted accounting practices (GAAP), internationalfinancial reporting standards (IFRS), and Sarbanes-Oxleyregulations. Centralized data management, includingsecurity and business rules, and transactional reportingsimplify regulatory compliance.9
Accounts PayableAP Terms and ConditionsEpicor supports all of the most common business practiceterms and conditions within Accounts Payable and Receivable.This feature also affords great flexibility for the definition ofcreative receipt and payments terms within countries wherethis functionality is not necessarily demanded but may offer acompetitive advantage.Accounts Payable (AP) allows you to enter supplier invoicesfor purchases that you make, then create payments for theinvoices you want to pay. The system can generate paymentsfor all invo
Epicor General Ledger (GL) 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 Gene
