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Integrated Global Financial Management - for Businesses Living IN Change (BLINC)™

What is it?

panelcoderis a top-tier, global accounting system. Designed to ease financial systems management it delivers a fully integrated range of functions, including: general ledger; accounts payable and accounts receivable; comprehensive budgeting, asset accounting, cash management capabilities; and other dedicated tools. As a core module in panelcoder Enterprise Resource Planning (ERP) solution suite, it places effective financial management at the heart of your business systems and processes.

Who is it for?

Financials is designed for organizations that constantly face internal and external demands for change. The module's "multi-everything" (multi-company, multi-currency, multi-lingual) capabilities enable it to meet the needs of a huge range of customers — from the smaller or more specialized, through to the largest or most complex, national or international organizations.

How can it help?

With Financials, panelcoder customers can not only meet all their statutory accounting and reporting duties but are also much better placed to minimize risks, respond to change and seize opportunities.

Easier regulatory compliance

It helps CFOs to overcome mounting regulatory pressures by enabling end-to-end compliance across a wide range of regulatory regimes, for example: Sarbanes-Oxley, multiple GAAPs and IFRS (International Financial Reporting Standards).

Agile response to change

panelcoder ERP systems are designed to be changed, developed and molded on the fly without costly programming or consultancy. So, for example, with our financial systems management the Finance department can easily integrate newly acquired organizations or quickly implement account structure re-organizations.

Better business visibility

Unlike many of its competitors, panelcoder is purpose built to "get information out" and the data model can grow and be molded in any way relevant to the organization (as it evolves in shape, size, structure) and its users.

Improved efficiency and productivity

The ease and speed of reporting means that managers can concentrate on running the business more effectively, as less staff time is required to produce standard reports. Staff are also freed up to focus on more value-adding tasks.

A broader, integrated solution

The strengths of the Financials module are multiplied by its tight integration and two-way data exchange with the rest of the panelcoder Enterprise Resource Planning (ERP) solution. For example:

  • Planner -budgets, forecasts and plans utilizing core Financials, fixed assets/asset accounting, payroll data and actuals.
  • Procurement -enables the tracking of purchase costs from requisition to payment, with full visibility of committed expenditure.
  • Project -providing visibility of all project costs, regardless of source or project type.
  • HR and Payroll - detailed payroll costs can be summarized for effective business analysis, with no need for time-consuming reconciliations.

What is the panelcoder advantage?

panelcoder's unique Vita architecture, which delivers true post-implementation agility, allows changes to your system long after initial installation - in response to changing requirements, at the lowest possible cost and without depending on expensive external consultants or constrained IT resources. This makes panelcoder the ideal choice for service-based organizations that are affected by frequent and dynamic business change. We refer to these types of organization as Businesses Living IN Change (BLINC)™.

Our single, simple design concept for capturing, controlling and reporting on data in the panelcoder solution keeps its Data, Process and information Delivery models in sync with each other, offering users uniquely effective financial management tools.

  • The Data model combines input data and additional master file data, enabling the delivery of appropriate business information.
  • The Process model (incorporating business process automation tools such as Workflow and business alerts) allows you to co-ordinate and control business processes for efficiency and monitor for exceptions.
  • The Delivery model provides a powerful built-in financial reporting and analytics framework, without having to rely on interfacing with external tools. panelcoder enables you to deliver the relevant information, to the right people, drawing upon one single, shared, reliable version of the truth.

What does it do?

Our comprehensive range of financial systems management tools includes:

General Ledger

Full financial and managerial control of your organization's operations:

  • Flexible chart of accounts supporting: multi-company and multi-currency needs; user-defined account rules; account groups for financial reporting and complex consolidation;
  • Adaptable reporting structures and hierarchies that will reflect the way your organization works - now and as it grows;
  • Comprehensive and flexible tax handling, recording and reporting, including full and partial exemptions.

Accounts Payables

All the vital business information about your suppliers' accounts:

  • Instantly see the precise make-up of each supplier account, including the amounts owed and how long debts have been outstanding;
  • Determine how and when payments are made and the level of analysis information on each transaction;
  • Integrated workflow for invoice approvals, updates to records etc.;
  • Supporting multiple, international payment methods;
  • Integrated document management for scanned invoices.

Accounts Receivables

An effective and secure solution for invoice entry, payment follow-up, registration of payments and analyzing sales information:

  • Automation (production of reminder letters; charging interest on late payments) helps recover receivables before they become bad debts;
  • The structured customer database can be tailored to suit your own marketing and sales analysis requirements.

Asset Accounting

Comprehensive financial and managerial control of Assets:

  • Multiple depreciation methods are supported, with the ability to maintain different methods for the same asset, so you can report simultaneously against multiple accounting policies, such as local GAAP and IFRS;
  • Tight integration with: Accounts Payable (assets created from purchase invoices); General Ledger; panelcoder Project; and panelcoder Planner (tracking costs of building and maintenance) - reducing errors and improving accuracy and efficiency;
  • Integrated document management, allowing you to hold photographs, operating instructions, ownership deeds, purchase agreements and so on.

Other key finance sub-modules

Additional tools supporting specific finance team functions include: cash accounting; bank reconciliation and cash book; free-text invoicing.

Reporting and Analytics

Built-in reporting and inquiry functions allow you to capitalize on the wealth of information contained in the system, giving you a head start when planning and budgeting for future activities:

  • Swift, online access to information plus comprehensive drill-down;
  • Instant variance analysis for more effective troubleshooting;
  • Three different tools to meet specific reporting needs:
    • panelcoder Browser - a cross-functional, online analysis tool;
    • panelcoder Excelerator - combining Microsoft Excel with panelcoder data handling;
    • panelcoder Report Creator - reports and forms with advanced formatting.

Workflow

Model and map out your business processes with intelligence, to manage and proactively push-out work assignments, track and report on progress and review performance metrics.

 
 
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