Automate cash management across multiple related companies with SAP Business One.
If you’re a company having to manage multiple related companies or a group of companies, you probably experience the following challenges:
- Difficulty to consolidate, coordinate, and view activities across all business units without using manually intensive reconciliation
- Repeated errors and data entry duplicates
- Need to increase employee productivity
Most wish to reduce the complexity of their financial operations. They aim to do so by consolidating business processes across each and every unit or companies of the parent company. This is where intercompany features included in your business management system comes in hand. By offering a wide view on performances of all departments and companies, it enables:
- Rationalization of operations;
- Improving communication;
- Better collaboration within your head office, your sister-company or multiple related companies.
Managing a business becomes all that more complex when many companies are involved. You must choose the right solution to avoid having to face the challenges of acquiring other enterprises alone. The software you need is one that will make operation coordination easier, as well as provide an overview to enable your business to transform insights into profitable actions.
What can an ERP system help you achieve?
- Automate activities for each entity
- Master data processing and content sharing
- Opt for transparent and standardized business processes
- Watch over your entities’ activities in a simple glance
- Have better control by encouraging collaboration
For companies with multiple business units or related companies, intercompany functionalities allow them to:
- Manage cash management and vendor payments more easily;
- Manage intercompany goods transfer more efficiently;
- Reconcile and consolidate financial data across business entities;
- Automate financial reports production;
- Manage multi-currencies;
- Optimize purchasing and simplify invoicing;
- Optimize fiscal advantages;
- Gain visibility into inventory across all business units.
Better support intercompany operations
When a business supports its companies operations with an ERP, the time and effort usually associated with intercompany transactions and aggregation are reduced. They are also able to eliminate costly errors resulting from manual reconciliation and aggregation.
There are a few things you should look for when considering an ERP for your companies:
- Master data replication and content sharing
- Support for standardized, transparent processes across business entities
- Financial and operational visibility across business entities
- Control and collaboration across business entities
- Support for intercompany transactions in multiple currencies
By choosing SAP Business One, you get all your unique software requirements. Contact us for a personalized demo on intercompany features.