3 Key features to optimize financial management with an EPM system

gestión financiera con un sistema EPMMore and more companies are choosing to optimize financial management with an EPM system. In fact, according to Gartner data, the migration of finance teams to the cloud is happening faster than expected. If your company wants to streamline processes, reduce administration costs, enjoy a collaborative environment, manage accurate data, etc. 

Key functions to optimize financial management with an EPM system

EPM systems have many functions to manage the financial area of a company. However, among all of them, there are three key features that optimize this management. It is important that you know what they are so that when you choose the software you can make sure that they are included.

  1. Financial planning

Como debe ser la gestión financiera con un sistema EPMThis module allows you to automate planning and budgeting processes so that when starting projects, the finance team can have this information quickly and easily. In addition to helping reduce the time spent on planning, it improves the accuracy of financial forecasting, automates overhead allocations, simplifies workforce planning, among other things.

                      1. Financial reports

It is important that financial management with an EPM goes beyond the numbers. With the information gathered, these systems offer detailed and updated financial reports and provide real-time financial analysis and modeling across all dimensions of the business. These reports help executives make more effective data-driven decisions. 

  1. Accounting and global consolidation

gestión financiera con la participación de un sistema EPMHaving a global accounting and consolidation function enables companies to run a global business in a simpler way. It is important for the EPM to have a multilingual user interface to overcome communication barriers, and that it also offers multicurrency management to work with different exchange rates. It should also offer audit and compliance reporting to ensure compliance with international security and IT standards, as well as a configurable tax engine.

The use of an EPM system not only benefits a company’s finance or administration department, but also other departments such as sales or human resources. Hence, is considered to be a tool capable of aligning the organization around its goals and objectives. At Fusionworks we help you implement this solution to optimize your financial processes. 

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