Epicor FP&A is a deep, intelligent, and easy-to-use solution for reports, budgets, plans, personalized dashboards, KPI monitoring, and consolidated financial statements. It works with SaaS or on-premises deployed ERP systems.
Epicor FP&A provides a truly complete, deep, and functionality-rich solution that can handle financial reporting, budgeting and planning, and consolidation within just a single platform.
Epicor FP&A today optimizes and automates the reporting and budgeting process of over 2000 mid-sized to large organizations within Epicor. With a built-in understanding of your ERP data’s structure, Epicor FP&A takes pride in its easy-to-use Web and Excel interface designed specifically to be used by accountants or finance analysts.
As a tool, it allows the finance team to create and modify simple to complex reports and budgets that fit their business needs without needing IT assistance.
Benefits
Epicor FP&A’s AI and machine learning capabilities can add significant value to businesses in several ways:
Features
Epicor FP&A offers user-friendly, role-based access management and it enforces efficient budget workflows for streamlined operations. It standardizes data and processes while allowing customization of business rules to fit unique requirements. The system automates financial tasks, embeds internal controls, and includes prepackaged finance logic for an out-of-the-box experience. Additionally, it features robust ERP-FP&A integration
Epicor FP&A upgrades your way of working through a streamlined budget workflow & through machine learning-driven budgeting, planning, and forecasting process that improves data analysis, enhances budgeting and forecasting precision, and improves team productivity.
With Epicor FP&A, you can create goal-oriented, driver-based plans manually or through machine learning. With Epicor FP&A, you are guaranteed best practices in budgeting, planning, and forecasting through capabilities like streamlined budget workflow, different spreading methods, team collaboration capabilities like commenting or approval hierarchy, the use of machine learning models to create your first draft of budgets, plans, and forecasts, and through graphic visualization to better understand trends and patterns.
In addition, Epicor FP&A allows complex calculations in a simple, straightforward manner through its built-in Business rules engine
Epicor FP&A allows you to customize your cash flow based on your own format, set up by you in just hours, not weeks.
Epicor FP&A allows you to integrate your operational data to avoid manual gathering through data sync or automatic uploads after passing data validations. It will then allow you to set IFRS16 standards or rules that are needed for journal entries. In addition, you can apply market factors, such as FX rates, interest rates, discount rates, and indexations, to assess the impact of IFRS16 on your financial statements.
Epicor FP&A allows you to remove various one-time, irregular, and non-recurring items from EBITDA to get a normalized number that is not distorted by irregular gains, losses, or other items. This will be helpful in your valuations.
Epicor FP&A allows you to perform “genuine” cash allocation automation. This means that you can match, without intervention, across multiple customers and multiple systems to specific combinations of invoices to a high level of confidence that there are no misallocations. To do this, Epicor FP&A gives you configurable matching rules to allow you to tune the solution to your particular business practices.
Epicor FP&A enables you to transfer currency values from one account assignment to another. You can use reclassifications for all posting levels in Epicor FP&A. This means that you can adjust the financial data reported by consolidation units to meet the group accounting requirements as well as reclassify already consolidated data.
Epicor FP&A delivers alternate account functionality so you can meet accounting or regulatory requirements of multinational organizations. By using alternate accounts, you can enter and maintain both a statutory (local) account value and a corporate (internal) account value at the detailed transaction level within the General Ledger. Alternate accounts operate with, and fully support, the conventional corporate chart of accounts that is required for internal management and external financial reporting. You can also perform year-end closing on alternate accounts only.
Epicor FP&A allows you to take in data in the system for any bonus program. You can then calculate accelerators and percentages. Each employee can go to their own homepage and check their balance. In addition, they can drill down to see what goes into those figures, such as specific invoices.
Epicor FP&A gives you both standard and advanced consolidation capabilities. In any of the Epicor FP&A products, you get full eliminations and multi-currency capabilities. In its full-featured consolidation package, you can get automation of historical rate calculations, handling of booking of unrealized gains and losses due to FX, handling of significant M&A activities, eliminations, top-side journals and adjustments, intercompany matching, and automation of other journal rules such as equity pick-up, reclassifications, and revaluations.