Key benefits for your Financial Team
Multi-Level Organization Structure
A single accounting software for all your entities within a single installation – accessible to all. Multi-level and global organization structure operating on multiple currencies can be easily defined, so that there is just a single source of truth.
Single Chart of Accounts
Setup a single chart of accounts for all your entities with entity specific ledgers or country specific ledgers. Reporting to the head office was never easier. Accounting practices can be assimilated across entities, no matter what the operative business is.
Flexible Reporting Hierarchy
Group your legal or non-legal entities in flexible reporting hierarchies. Alternative reporting hierarchies can be defined to build P/L based on Divisions, Products, Regions or any other Accounting Dimension.
IFRS and Local GAAP
Onfinity comes with a fully loaded IFRS Chart of Accounts meant to work in multi-entity scenario. In addition to this each entity can run on multiple Accounting Books, including the local GAAP.
Group Consolidation
A real group consolidation engine allows you to consolidate your numbers even at a global level, across different GAAPs. Considering accounting of multiple countries, currencies and consolidation rules, an automatic rules can be setup.
Compliance
Onfinity Financial Management is certified to the IDW PS 880 and RS FAIT 1 standards by TÜV Süd, Germany and is compliant to international auditing and compliance standards.
Onfinity is compliant with local regulations as well as international standards like IFRS and GAAP. It gives us transparency and ability to report in multiple currencies under different accounting standards.
BILL CUMMINS
CFO at TERRAOIL SWISS AG
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Global Financial Management
A truly global financial management system that allows you run global accounting scenarios including working according to multiple GAAPs within a single system.
Also do multi-currency transactions, produce multi-lingual documents and much more.
Setting Goals was never easier
Plan your periods with a few clicks. Whether planning with the help of key figures (formula planning) or based on historical numbers and expected growth rates, Onfinity Financial Management module equips with the right tools for your planning process.
Flexible Dashboard Reporting, KPI
Define and track the figures that are important to your business on your role based dashboards. Set KPI for each role and user and have them presented right at the workspace.
Search for the “Why” much easier
Digging into your data from the highest level to find the reason for changes is much easier with Onfinity Financial Management module. Our BI capabilities support your quest to find the “why” and explain the reason in descriptive way. It lets you compare periods, regions, divisions or any other accounting dimensions.
Accelerate and enable operational accounting with simple tools
Reduce time to run your accounting operations by using powerful accounting tools helping you to run your daily business smoother.
Accounts Payables and Receivables Cockpit
The AR/AP Cockpit provides you with all information that you need and facilitates you with the actions that you need to perform at a single interface. It automates generating payments towards suppliers and take action on receivables to get paid much quicker.
Bank Reconciliation Cockpit
An intelligent reconciliation logic for automatic match of expected transactions with the actual transactions fetched automatically from your banking interface. This tool simply save you a lot of time.
Auto-Allocation and Distribution Tools
Set rules for automatic allocation of AR/AP transactions to Payments and its distribution to Accounting Dimensions such as Organizations, Cost Centers, Projects and many more.
Get more in depth understanding about our accounting
Onfinity has a track record of challenging the incumbents.
Accounts Payables Automation
Setup your individual Accounts Payable Workflow to save time and administrative effort in paying your bills. Use payment discounts and improve relationship with your suppliers.
Budgeting
Create Operational and Investment Budgets using the respective tools. Plan at the level of any accounting dimension such as Organization, Project, Division and many more.
IFRS and Local GAAP
Onfinity truly understands IFRS and is preconfigured to support IFRS based accounting including IFRS 16 rules. In addition to that you can run your local GAAP.
Central Cash Management
Central Cash Management allows you to centralize your funds management and generate investment income. Automate Inter-Company accounting consequences and interest calculation.
Risk and Compliance Management
Onfinity comes with comprehensive controls and monitoring mechanism to comply with regulations for listed companies and local privacy rules. Onfinity holds IDW PS 880 certification issued by TÜV Süd, Germany.
Shared Services Billing
Automate your intercompany invoicing based on terms and key figures set with your subsidiaries. Set recurring invoicing on service contracts and usage or plan your invoice schedules.
Workflow and Approvals
Define roles-based workflows for a better accountability in managing your master and transactions data. A flexible workflow engine provides comprehensive automation tools.
Business Intelligence
Onfinity comes with an inbuilt Business Intelligence System which has been featured in Gartner’s Magic Quadrant and has been named visionary. Forrester has recognized it as “Strong Performer”.
Banking Integration
Standard Interfaces as well as the capability to define custom interfaces with your banks helps to automate your banking transactions and save time. Reconcile your bank statement or automate payment with secure approval and integration.
Talk to our financial consultants
Contact us today to get an accurate cost-benefit analysis between Onfinity and your current ERP solution.
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More Resources
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