Fixed Asset Management
Fixed Assets is a separate application that’s integrated with FFA. You must have a license for it. It allows the system to create acquisitions, disposals, and depreciation journals. With FAM, your organization can easily locate and manage assets throughout the entire lifecycle, and access procurement information straight from the asset record. You get accurate and compliant results, with traceability as well as time-sensitive depreciation. Assets can be mass depreciated with balances being posted directly to the general ledger.
Revenue management is a centralised view of the entire organisation’s revenue streams which is ASC 606 and IFRS 15 compliant. Revenue calculations are automated, reducing an organisation’s period-end and eliminating error-prone and time-intensive processes. Built on the Salesforce platform, FinancialForce Revenue Management seamlessly integrates with Salesforce CRM and other FinancialForce ERP solutions, ensuring that all customer data is interconnected. Revenue Management can be integrated with custom work by detailing the source objects from which to recognise revenue.
Spend management deals with the procurement process of a company. The process begins with an internal requisition order, an internal request to the procurement team. This is later converted into a purchase order (PO) before being sent to the supplier. Once the supplier has sent the supplies, the supplies are receipted (checked for quantity and quality). A 3-way match between the PO, receipt, and supplier invoice discovers any discrepancies, for example, if the supplier has undersupplied. A match will cause a Payable invoice to automatically be created in FFA, ready for processing. This will then end the process with the posting and payment of the PIN.
Billing central allows the creation of plans which outline a certain bundle of product(s). Plans can be converted into contracts, which are related to individual accounts. Once a contract is created and activated, the related billing schedules are automatically created. There will be 1 billing schedule per contract line per instance of billing. From here billing documents are generated automatically or manually from the billing schedules. When a billing document is created, a line item will be created for every billing schedule that is before the document date and has not yet been billed. Billing documents are automatically sent to FFA as transactions, posting directly to the general ledger.