*“Smartstreaming” Enterprise Financial Management
Statistics SA recently released its findings that the South African economy grew by 1.4 percent in the last quarter of 2018. While this is encouraging and a move in the right direction, many are still faced with the question; “is this growth sustainable?”. Mirroring this question, industries across the African continent are seeking solutions that will effectively help organisations to accelerate growth while keeping cost and risk under control.
According to Mark Bannerman, Managing Director at EOH Infor Services, Infor’s Master Partner in Africa, operating as a Gold Partner, what African businesses need far exceeds technical support. “From a technology and software perspective, these organisations require effective Enterprise Financial Management (EFM), but the software alone won’t deliver the desired result. What they really need is strategic partners who can wield technology to the needs and challenges facing them in today’s dynamic and volatile environment.”
For this reason, EOH Infor Services has recently taken on the Infor SmartStream® Products from BCX, with a view to helping customers upgrade to the new Infor CloudSuite™ solution. “As a robust, integrated EFM solution, SmartStream’s unique enterprise design encapsulates individual tasks associated with a business process into configurable workflows. This empowers organisations to automate their processes, better manage their expenses and reduce their risks.”
With a customizable approach, a full suite of back office solutions, and enhanced web functionality, the EFM solution offers customers the opportunity to achieve the next level of success for their business. “With the goal of protecting profits and ensuring sustainability, an effective financial management system should improve business performance,” confirms Bannerman.
From a technical perspective, the solution supports organisations in overcoming post trade processing issues through increased automation. The full EFM suite includes general ledger, accounts payable, accounts receivable, fixed assets, inventory, purchasing, project tracking, and human capital management functionality, unifying all financial, human resource, procurement, and business intelligence information. This creates far more proactive, exceptions-based processes, lowering the cost-per-transaction while enabling firms to reduce operational risk, aid compliance and improve customer service levels.
“The result is a full awareness of the current financial details of the business, allowing management to make wise financial decisions quickly, based on up to date information and a full understanding of how these choices affect overall operations. It also ensures that the business’ Journals and Ledgers can be closed faster, without errors. From streamlining payment processes to more accurate reporting, improved access to financial data and enhanced flexibility, every aspect of the enterprise’s financial management is covered,” concludes Bannerman. “These innovations, supported by a team of experts, ensure business growth, greater financial success, and better performance.”