IFS Applications: World Class Financial Reporting Software that Delivers

Mar 28, 2019

Globally recognized enterprise software leader IFS delivers world-class Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM) and Enterprise Service Management (ESM) softwareIFS helps companies react quickly to market changes, streamline resources, and improve business performance. IFS Applications is a modular, user-friendly, flexible, and highly scalable enterprise software solution.  

Currently, in its 10th iteration, IFS Applications contains modules for managing your finances, human resources, engineering, project management, manufacturing, supply chain, sales and services, maintenance, and business enablers. IFS’ financial module, called IFS Financials gives you a complete overview of your business' financials from different perspectives that ultimately give you better control across various levels of your organization and support your regulatory and compliance needs. 

What Do You Get with IFS Financials?  

Here are the best features of the IFS Financials module, and how they help to optimize your financial operations.  

IFS Consolidation:This feature lets you merge balances from multiple companies, irrespective of their level, country of operation, or currency used and fetch subsidiary balances at any time. The consolidation process can either be deployed for one structure node or for the whole structure in one go, and contains automated support for ownership and intercompany mergers or closures. 

IFS Business Planning:This feature helps you create budgets, forecasts and consolidate financial plans for parent companies or its subsidiaries. IFS Applications provide a centralized software engine that helps you make business plans according to demand, customer requirements, etc. 

IFS Cash Flow:IFS Cash Flow helps you evaluate liquidity analyses based on a variety of criteria like customer orders, purchase orders, accounts payable, accounts receivable and generate cash flow projections. 

IFS Project Finance: Helps provide you with an end-to-end view of your project expenses and finances, and lets you analyze transaction details for better project management.  

IFS eInvoice:Electronic invoices with advanced authorization rules automatically match payments to purchase orders which eliminates the amount of manual effort required for billing and processes optimization. 

IFS Accounts Payable:This simplifies managing supplier invoices or payment processes through services like self-billing, multiple currency support and payment options. 

IFS Accounts Receivable:This automatically handles and simplifies routine transactions through integrated details for customer orders and accounting rules. 

IFS Fixed Assets:Helps you manage your company’s fixed assets through a complete integrated accounting tool that includes multi-country depreciation methods support. 

IFS General Ledger:Lets you bring together financial information from all your systems and subsidiaries, through multiple general ledgers and advanced distribution rules. 

One of the best characteristics of IFS Applications is IFS’ deep supportand integrations which let you manage and maintain multiple businessprocessesanddepartmentsthroughone comprehensiveenterprisesuite for managing your finances. If you’re looking to consolidate your financial processes too, give us a call at ProV.   

ProV is a multiple award-winning partnerfor IFS products and services.We offer some of the bestIFS Applicationspricingand provide best-in-class services forIFS implementations,IFS software support,and IFS customizations.  To get started on your digital transformation journey, request ourFREE Consultationtoday.     

 

New Call-to-action

Share This Article

Topics: ifs supply chain, ifs maintenance, ifs human capital management, ifs financials, ifs field service management, ifs applications 10, ifs projects