Finance

What problems are you trying to solve in your Finance Department?

Flowgear integrates internal, customer, and supplier systems to significantly enhance the efficiency and accuracy of a finance department by streamlining data flow and improving visibility across the organization.

Flowgear strengthens financial controls, ensures compliance, and enhances decision-making through timely, data-driven insights into the company’s financial health and operational efficiency.

Enable seamless data sharing across your organization with a single source of truth.

Solutions > Department > Finance

What problems are you trying to solve in your Finance Department?

Flowgear strengthens financial controls, ensures compliance, and enhances decision-making through timely, data-driven insights into the company’s financial health and operational efficiency.

Enable seamless data sharing across your organization with a single source of truth.

Finance > Use Cases

Practical Examples and Use Cases Where Flowgear Can Help Finance Departments

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Data Capture from Flat Files (Excel, CSV, PDF, etc.) in Real-Time with 100% Accuracy

Automate Manual Data Entry

Capture financial data from flat files and transfer it directly to your financial systems.

Real-Time Processing

Automatically process incoming flat files in real-time, allowing for faster financial reporting and reconciliation.

Error Elimination

Automate the entire data capture process to eliminate human errors, ensuring consistent and accurate data across all systems.

Bank Reconciliation and Cash Management

Banking Integration

By integrating the ERP with banking platforms, the finance team can simplify bank reconciliation processes. All bank transactions (deposits, withdrawals, transfers) are automatically pulled into the ERP, allowing the finance team to easily match and reconcile transactions.

Cash Flow Forecasting Integration

Using cash flow management tools (e.g., CashForce or Kyriba) that integrate with the ERP, finance teams can create accurate cash flow forecasts based on real-time data, including receivables, payables, and bank balances. This enhances liquidity management and helps optimize cash usage.

Dashboarding and Business Intelligence Reporting

Business Intelligence (BI) Reporting

Integrating BI tools like Power BI or Tableau with your ERP system allows your finance team to visualize and analyze financial data in real-time. They can create customized reports, dashboards, and KPIs, helping the team monitor financial health, profitability, and performance metrics.

Budgeting and Forecasting

Revenue Reporting

Use a combination of ERP and CRM data to generate real-time revenue reports, integrating it with financial dashboards that help in budgeting and forecasting.

Budget Preparation

Integrating ERP, CRM, or Warehouse Management Systems with budgeting tools allows the finance department to create dynamic budgets and accurate financial models based on real-time operational data, improving financial planning.

Warehouse Reporting

By integrating inventory levels, turnover rates, and warehouse operating costs, the finance team can better predict future cash flow needs and allocate budgets more effectively.

Scenario Planning

Some ERPs can be integrated with scenario planning platforms to analyze different financial outcomes, such as revenue fluctuations or cost changes. This is useful for long-term planning and adapting to market conditions.

Accounts Receivable (AR) and Billing Automation

Invoicing Automation

Connecting a CRM system (e.g., Salesforce, HubSpot) with the ERP allows the finance team to simplify the creation of customer invoices based on sales orders or contracts. As sales are closed, invoices are automatically generated and sent to customers, ensuring accurate and timely billing and payment collection.

Credit Management

Integration with credit risk management systems helps finance teams evaluate customer credit scores and manage credit limits, reducing non-payment risk and streamlining the decision-making process for extending credit.

Payment Gateway Processing

Integrating payment gateways with the ERP enables customers to make payments directly through the invoice portal.

Account Reconciliation

Automate the accounts receivable reconciliation, ensuring accuracy and reducing manual processing time.

Omnichannel Communication

Flowgear integrates omnichannel platforms (such as email, online portals, messaging platforms, etc.) can simplify customer communications, reducing manual follow-ups, improving relationships, and ensuring faster, more efficient payment cycles.

Accounts Payable (AP) Automation

Invoice Management

Integrating an ERP (e.g., SAP, Sage) with an AP automation tool simplifies the invoice processing workflow. Vendor invoices are scanned, captured, and synced directly with the ERP system, reducing manual data entry and minimizing errors.

Payment Processing & Tracking

By integrating your ERP with payment platforms like PayPal, Stripe, or even your banking app, the finance team can simplify vendor payments, track outstanding payables, and reconcile AP transactions with bank records in real-time, ensuring accuracy and reducing manual processing.

Supplier Portal Engagement

Integrating a supplier portal into the ERP system enables vendors to upload invoices, track payment statuses, and manage purchase orders directly. This reduces back-and-forth communication and streamlines AP processes.

Omnichannel Communication

Flowgear integrates omnichannel platforms (such as email, online portals, messaging platforms, etc.) to simplify communications with suppliers, reducing manual follow-ups, improving supplier relationships, and ensuring faster, more efficient payment cycles.

Multi-Entity Financial Consolidation

Multi-Entity Financial Management

For companies with multiple subsidiaries or business units, an ERP integration with a financial consolidation tool allows for simplified consolidation of financial statements across entities, currencies, and tax jurisdictions. This improves efficiency in generating consolidated reports and compliance with regulatory requirements.

Intercompany Transactions

Integrating ERP systems with tools that handle intercompany transfers simplifies the tracking and reconciliation of transactions between subsidiaries, ensuring compliance with accounting standards.

Currency Conversions

Integrate currency conversion tools with your ERP to simplify currency calculations for international subsidiaries, suppliers, and customers. This streamlines financial reporting across different regions and ensures compliance with local regulations.

Tax Compliance and Regulatory Reporting

Tax Compliance

Integrating tax compliance solutions with the ERP ensures accurate calculation of sales tax, VAT, or other jurisdiction-specific taxes. The system can automatically apply the correct tax rates based on location and type of transaction, reducing the risk of errors and non-compliance.

Regulatory Reporting

Integrating the ERP system with reporting tools simplifies the preparation of financial statements, tax filings, and other regulatory reports, ensuring timely and accurate submissions.

Audit Preparation

Integrating your ERP with audit management software simplifies the creation and storage of audit trails for all financial transactions, making audits more efficient and ensuring compliance with internal controls and regulations.