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SmartStream Financials
Put the power of SmartStream Financials to work in your business to improve business processes, handle work and information more efficiently and help your enterprise become more profitable and productive. With SmartStream Financials in place, users throughout your organization will have the information and tools they need to complete each step of your everyday business operations.
The SmartStream Financials suite includes applications that can be implemented together or separately. In addition to each application's unique capabilities, all applications provide users with:
- Configurable workflow to streamline business processes
- Flexible, user-definable elements -- from account keys to balance types -- for tailoring the application to the user environment
- Enterprise policies to minimize the need for data re-entry and ensure accounting control
- Multinational and multi-currency features to support global operations
- Common vendor, bank, currency and calendar information to provide consistency both among the SmartStream Financial applications and with other SmartStream applications
- Robust Capabilities for Managing Financial Processes
SmartStream Financials provide your enterprise with robust capabilities that let you:
- Manage accounting business processes and financial information across your entire enterprise
- Improve productivity through configurable workflow that automates manual and repetitive processes
- Reduce the learning curve with a familiar Microsoft Windows interface and productivity features such as icons, tool bars and online help
- Provide efficient access to information in familiar hierarchies with the look of organization charts for your data
- Work easily in many countries and languages using built-in capabilities for handling multiple currencies and key national requirements
- A Full Complement of Financial Solutions
The SmartStream Financials applications are:
- SmartStream Ledger. Store, process and post journal entries with maximum flexibility for your unique business needs.
- SmartStream Receivables. Manage accounts receivable, customer remittances and customer credit.
- SmartStream Billing. Streamlines your billing process and simplifies administration; integrates with SmartStream Receivables.
- Asset Management. Control your investments in capital equipment and other assets and manage depreciation for maximum tax benefits.
- SmartStream Budget. Streamline budget administration and eliminate expensive, time-consuming manual budgeting processes.
- SmartStream Projects. Manage capitalized research in a broad range of industries.
- SmartStream Allocations. Redistribute any amount to better assess the performance of specific areas of your business.
- SmartStream Consolidations. Solves the painful realities of financial consolidation by encompassing all aspects of the consolidation process -- from data collection through reporting.
- SmartStream Ledger includes a variety of activities designed to give users better control, more accurate financial reporting and a more accurate closing process. Ledger can manage actuals, budget and statistical account balances.
Key Ledger features include:
- Flexible user-defined account keys at the enterprise level
- Seamless drill-back from ledger balances to the supporting documents
- Multiple-level consolidations to ensure accurate elimination of inter-company balances
- A full range of journal maintenance features such as automated approval routing, online or batch posting, multiple entities in a single journal, entry edit and validation, automatic balancing, multiple error handling options and entry and processing of posting from other applications
- Flexible spreadsheet integration
- Unlimited account balance types
- Workflow-managed journal approvals
- Average balance functionality
- SmartStream Receivables provides integrated processes that help companies improve cash flow, manage outstanding receivables and evaluate credit risks.
Key Receivables capabilities include:
- Overall management of the generation and maintenance of accounts receivable with receivables processing that integrates with other SmartStream applications
- Receivables aging and write-off management
- Management of cash, bank draft or EDI transaction remittances
- Ongoing receivables and remittance activity histories
- Automated credit line and collections features
- SmartStream Billing lets you manage sales items, billing documents and revenue recognition. It is tightly integrated with SmartStream Receivables.
Key features of Billing include:
- Streamlined billing process and simplified administration
- Policy reinforcement
- Setting up sales items and price lists
- Creation of billing documents
- Setting up customer and organizational level defaults
- Creation of recurring invoices and payment schedules
- Setting up rules and following through for revenue accounting
- Printing billing documents either real time or off-line
- Interfacing billing documents to SmartStream Receivables for collection
- SmartStream Asset Management allows you to control your investments in capital equipment and other assets and manage depreciation for maximum tax benefits.
Key features of Asset Management are:
- Efficient handling of a wide range of depreciation methods
- Country-specific tax reporting and depreciation structures for countries including Canada, France, U.K., U.S. and others
- Workflow-managed processes to add, transfer and retire assets easily
- Integration with other SmartStream applications
- Group accounting options for regulatory compliance
- SmartStream Budget application allows you to develop accurate budgets efficiently.
Budget features include:
- Automate tasks that amass budget data and consolidate and distribute information
- Enterprise-wide budgeting targets that ensure budgeting consistency throughout your enterprise
- As many budget versions as you need -- for example, forecast, target, final budget, pre-budget
- Ability to pre-fill beginning balances, establish budget targets, increase or decrease existing balances by fixed percentages and create
- forecasts, rolling budgets and versions with Budget Maintenance Request
- Definition and management of budget data distribution with SmartStream Structures and other criteria
- Monitoring of individual user's budget status and ability to lock budgets to prevent unauthorized users from importing and exporting budget data.
- Ability to extract data from budget or ledger balance formats, allocate one or more periods in a single process or use various allocation methods.
- Audit trail reports to image balances in the system before and after maintenance activities.
- SmartStream Projects allows you to manage project costs and control risks. You can access actuals, budgets and forecasts to identify cost overruns early and even track commitment to get a true picture of future expenses.
Projects features include:
- Easy access to both source and summary information to simplify tracking of costs and commitments
- Advance notice of potential budget overruns to help you avoid unexpected over-budget situations
- Time-saving template features and work-breakdown structure definitions
- Ability to customize application to match business needs and facilitate decision making
- SmartStream Allocations gives you the flexibility to redistribute any amount, such as indirect revenues and expenses to individual divisions, to better assess the performance of specific areas of your business. With SmartStream Allocations, you have choices of allocation inputs, calculation methods and output options.
Key features of the Allocations application include:
- Inputs allowed from any budget or ledger account balance
- Automated execution at times you designate
- Calculation of allocation rates up to eight decimal places
- Allocation reversal after posting
- Automatic audit trail, error and other reports
- SmartStream Consolidations is a flexible solution designed for business enterprises that need to provide consolidated financial statements. In your organization today, it may be a critical business requirement to consolidate the results of varied operations.
SmartStream Consolidations is necessary to your company's overall Financial Management solution because:
- You must be able to automatically eliminate inter-company activity across the enterprise to portray true business results.
- You must report results from many operating companies into one or more consolidated currencies.
- You must appropriately account for minority ownership of subsidiaries when reporting on total operations of the company. SmartStream Consolidations solves these business issues by:
- Accepting and validating data submissions for any subsidiary in your organization.
- Converting results in multiple currencies as required
- Automatically eliminating inter-company activity based on defined rules
- Enabling manual adjustments for last minute changes
- Calculating effect on minority ownership positions
- Preparing and delivering financial statements and analyses based on consolidated business operations
- SmartStream Consolidations is delivered with an intuitive Microsoft Windows interface known as the Consolidations Map. This interface simplifies navigation through all of the steps necessary to perform financial consolidations.
SmartStream Funds Control addresses the policies, processes and supporting transactions you need for effective funds management. Seamlessly integrate accounting and budgeting functions into underlying business processes. This comprehensive application gives you the ability to define precisely how and when budgets are controlled. It provides:
- Extensive means for customization to meet specific requirements of different business situations
- Flexible, multitiered policies to meet the needs of complex, diversified organizations
- A selection of reports, including policy, audit and available funds balance reports, that can be scheduled or run on demand to simplify funds-related activity and process verification
Measure the financial impact of actual and committed expenses against management objectives on an ongoing basis with SmartStream Funds Control. Full integration with SmartStream Financials and Procurement ensures accurate and current information. Funds Control provides effective capabilities for managing compliance with regulations. SmartStream Funds Control:
- Tracks and controls funds-related transactions on a system-wide basis
- Seamlessly integrates accounting and budgeting functions into underlying business processes
- Enables precise definition of how and when budgets are controlled
- Facilitates change management by providing multiyear processing
- Provides flexible policy setup to adapt budgetary controls to the requirements within individual entities
- Enables an unlimited number of budget roll-up structures for incoming transactions
- Provides a broad range of options for dealing with funds exceptions
- Reduces maintenance requirements by automatically incorporating newly created accounts when they are referenced for the first time
- Supports multiple currencies and automatically converts transactions to the currency in which budgets are held
- Provides a complete audit trail of funds-related activity to assist management in the analysis and explanation of budgetary results
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