FlexSystem LedgerBase is optimized for management accounting. It solves those accounting issues that “slows down” your business processes thereby allowing you to move forwards faster. Information is more current due to the simplified processes, and therefore improves your ability to spend more time on management and less on the process itself.
Why are we different?
Optimised for Management Accounting: Deals 1) with complex computational and logic issues that are specific to accounting and 2) with scenarios where you need to get information from disparate systems on to “One Page”. Typical areas of management focus; commissions, inventory, liability management, project management, lease accounting, contract management etc. Uniquely deals with the ability to explode contracts into underlying accounting entries across the life of the contract (even with amortization) and to report at contract level. Also deals with both structured and unstructured data. As we all are aware in finance the devil is very much in the detail and that detail can be in many places. Our system handles aggregations of data, version controls, standardization of data for accounting, tagging to bring relevant information from disparate systems to one source of data as well as both simple and complex alerts.
High Performance Compute Engine: We are focused on management accounting and have really concentrated on this area. We have 1) made the system end user driven and 2) understood the key points of weakness of systems in dealing with management accounting issues. As a result we have optimized the ability for end users to work on their own quickly by making it many more times efficient to achieve the same task compared with other systems. We have 3) written our solution to leverage the cores and threads of today’s processors meaning that more can be done quickly and simultaneously which 4) has meant that program and data sizes are so small that when coupled with today’s computing power makes processes very fast to execute giving you more time on management. Not only that but 5) the small operational package makes things possible that were once the domain of larger very expensive systems like continual monitoring across simple or complex combinations of events even at transaction level or 6) business simulations where this year’s processes can be tested using last year’s data. Lastly 7) “What if?” calculations to look at changes in variables being important for your business can run quickly. When these are coupled with Virtual Assistants it brings a new meaning to “Does you system work for you or do you work for your System?"
Virtual Assistants bring immense capability to your system:
• In situations where you are receiving MS Excel spreadsheets from operations for aggregation, base details can be automatically checked by the system and 1) accepted and consolidated 2) rejected with reason or 3) can even instigate a workflow to chase for receipt of an expected but so far un-received file. Aggregations can involve simple or complex transformations to deal with currencies, year-end dates, accounting structures etc and structured / non structured data etc.
• Can auto review and give top XX data rankings for products, reasons for variances etc and because the system is multi-dimensional means that whichever dimension is reviewed the totals always relate to the same version of the truth.
• Can “virtually” highlight possible errors in run rates. These are visible on the screen but not on reports.
Visualisation: Workspaces are ultra-quick to set up and can support multiple functions within each space giving you areas to work or review data or simply watch the “what if” analysis play out as the scenarios are considered to give you your desired KPI characteristic.
Lastly with automation comes two issues 1) what happens during personnel changes and 2) does this lock me out from changing / upgrading current systems that exist in your organisation. In the first processes can be visualized and “played back” step by step, fast or slow, so that you can see the impact of each step and make changes collaboratively. In the second you are not “locked” into versions of your different disparate systems meaning that you can make changes as and when required and therefore leverage your current investments.
In summary Ledgerbase, by being optimized for management accounting processes together with its small operational footprint, allows your processes to be simplified and automated bringing you closer to being in an environment where you understand your business dynamics as of “now”. With your business information being so current means any projections of profitability or for treasury management are based on up to date information. Time to ask “Do you work for your system or does your system work for you!!