In the dynamic world of financial management, businesses require agile and comprehensive solutions to manage their financial operations effectively and drive strategic business decisions.
Infor CloudSuite offers a robust, innovative financial management system designed to meet the evolving needs of modern enterprises. Its cloud-based architecture, user-friendly interface, and intuitive analytics capabilities empower organizations to improve enterprise data management, optimize financial performance, and drive growth.
This article discusses the innovative features and advantages of Infor CloudSuite Financials, highlighting how it streamlines financial processes, enhances financial data accuracy, and provides real-time insights for strategic decision-making.
Understanding the Infor CloudSuite Financials & Supply Management Landscape
Infor Financials & Supply Management software provides robust and innovative tools designed to help companies improve data accessibility for project managers and internal accountants, track critical project resources, enhance supply management processes, and ensure complex reporting requirements are met.
Infor’s financial management software and innovative supply management capabilities empower enterprise users to automate manual processes and facilitate integrations with other critical business systems, including Project Ledger, other Infor solutions, or third-party applications.
By consolidating enterprise, project, and financial data in a single, unified system, the solution’s core functionality helps companies evaluate project performance, compare actuals to planned budgets, and effectively manage project accounting procedures.
Here’s a breakdown of the main components of Infor’s Financials & Supply Management landscape:
Flexible infrastructure
With a flexible infrastructure, Infor’s Project Ledger allows companies to manage both internal and external projects with ease, further streamlining operational efficiency and improving performance.
- Track and manage costs of new services or lines of business
- Identify and assess overall return on investment for new ventures
- Analyze costs for new customer acquisition by customer type or market segment
- Monitor and reduce new-hire training costs to improve recruiting and hiring metrics
- Improve strategic planning for future business development initiatives
Unlimited financial calendars
By allowing users to access and maintain unlimited dimension strings, ledgers, and financial calendars, Infor CloudSuite Financials offers in-depth visibility into core business processes and improves overall process management across teams and systems.
- Generate multiple calendars to accommodate different fiscal year ends and funding year ends
- Automate reports for transactions in each reporting period
- Navigate projects with different fiscal year, funding year, or other reporting needs
Financial report bases
With an unlimited number of ledgers for financial adjustments, gains, losses, allocations, eliminations, and other revenue recognition methods, Infor simplifies financial management and enables users to support complex reporting needs within each period.
- Define unlimited ledgers and combine them with a chart of accounts or calendars to create a complete basis definition
- Defined an unlimited number of bases for critical financial information
- Navigate regulatory requirements, funding requirements, management reporting requirements, and other reporting activities
- Report financial information to multiple sources with different fiscal or funding year-ends
Customization tools
Infor Project Ledger functionality offers various components designed to deliver the right information at the right time to meet critical project needs.
- Access customizable, role-based homepage design to improve visibility for information such as analytics, reports, tasks, compliance, risk monitoring activities, and more
- View, monitor, and filter activity progress through tasks and alerts that reflect real-time transaction information
- Leverage wizards to outline an intuitive way to navigate complicated, multi-step processes
- Request actions through an automated workflow to ensure up-to-date financial and project data
- Use social collaboration tools to manage people and business objects and receive automatic notifications for any changes
- Drive better end-user productivity through built-in search functionality
Digging Deeper into Infor Financials Capabilities
Infor CloudSuite Financials offers a global ledger that consolidates all financial transactions in a single platform, empowering key stakeholders to simplify financial analysis, automate accounting workflows, and streamline operations in a global market.
Infor’s Financials platform also provides deep industry-specific functionality that helps companies across sectors manage financial data and empower full visibility, including retailers incorporating big data into targeted campaigns and public sector organizations working to budget and plan community services.
Features
- Access relevant financial and non-financial data to make more informed decisions
- Leverage unlimited attributes to add and tailor dimension strings for specific industry requirements
- Outline critical compliance controls to align with standard regulations
- Combine ledgers with calendars and charts of accounts to deliver data based on reporting needs
- Navigate AI technologies to outline attainable goals and drive better visibility across business units
- Utilize advanced API gateway and PaaS capabilities to facilitate seamless integration across Infor systems and third-party enterprise products
Benefits
- Support accelerated value and productivity from your technology products through Infor’s intelligent service delivery model
- Leverage vertically integrated, self-orchestrating value chains to drive end-to-end visibility
- Access prepackaged content, workflows, analytics, and integrations to improve the customer experience across the global landscape
- Ensure accurate, data-driven decisions using business intelligence and advanced analytics
- Deliver a simplified user experience through a comprehensive data warehouse, data aggregation, workflow integration, and automatic upgrades
- Combine core functionality and high flexibility to facilitate a next-generation general ledger
Integrations for a Connected Value Chain
Infor CloudSuite Financials offers seamless integrations with various systems, enabling businesses to create a cohesive and efficient financial management ecosystem. CloudSuite Financials can easily integrate with other ERP systems, customer relationship management (CRM) platforms, human capital management (HCM) systems, and enterprise applications through its robust API capabilities and pre-built connectors.
These integrations facilitate real-time data exchange, ensuring critical financial information is accurate and up-to-date across all business processes and systems. Its interoperability with third-party tools also allows organizations to leverage advanced analytics, streamline workflows, and enhance reporting capabilities. By integrating with other systems, Infor CloudSuite Financials helps businesses eliminate data silos, reduce manual entry errors, and achieve a more holistic view of their financial health.
Here’s a quick look at a few key systems Infor CloudSuite Financials provides integrations for:
- Infor ERP Systems
- Infor M3
- Infor LN
- Infor SyteLine
- CRM Systems
- Infor CRM
- Salesforce
- HCM Systems
- Infor HCM
- Workday
- SCM Systems
- Infor SCM
- Infor Nexus
- Third-party Financial Systems
- Oracle Financials
- SAP Financials
How Can We Help?
Whether you need help outlining plans for a new Infor CloudSuite implementation, additional support navigating complex integrations between Infor and other third-party systems, or just an extra hand maintaining effective communication across teams, Surety Systems has you covered.
Our senior-level Infor Lawson consultants have the skills and experience to understand your financial data and expense management needs, outline action plans, and prepare your teams for continued success over time.
Contact Us
For more information about our Infor Lawson consulting services or to get started on a project with our team of expert consultants, contact us today.
