Companies buy products and services from vendors and sell their products and services to customers. This purchase and sale life cycle is divided in two parts:
Accounts payable - Payments to vendors
Accounts Receivables - Receive payments from customers or vendors
Companies have automated systems to do order entry and manage purchase orders. They create outgoing invoices and manage incoming invoices. These systems store purchase and sales transactions in payables (AP) and receivables (AR) systems.
Accounting department integrate transactions from AP and AR systems into General Ledger or sub ledgers with vendor accounts. At end of the financial month, quarter or year all posted transactions are validated and financial statements are generated.
AP, AR and GL data contain any company's core business information and accounting state. All financial decisions, reporting depend on these systems and data. Ledger Analytics solution allows companies to create a central repository using Big Data and store accounting transactions from AP, AR and GL system and master data from company to provide insights to accounting, finance and risk departments so they can understand data validity, trends, gaps and risk clearly.
Companies manage their working capital and revenues through AR transactions.
Ledger Analytics solution enables executives and receivables department to gain insight to improve the process, detect and manage clients risks, improve collections and reduce days sales outstanding.
Following dashboards are provided to deliver receivables insight
Scenario analysis and predication models enable AP teams to:
Accounts payables department has goals to pay only legitimate invoices and make sure no fraud or in-consistencies involved. They try to keep the control on cash flow and improve vendor relationships.
They validate following information before creating new invoice record.
AP department setup internal controls to protect company by making sure all vendor invoices are accounted for.
Ledger Analytics solution provides following dashboards/reports to improve Accounts Payables process to reduce liabilities, improve cash management and deliver deep insights.
Ledger Analytics allows monitoring of AP process flows to improve operations.
Following dashboards are provided to deliver payables insight
Ledger Analytics Solution allows companies to look at their AP and AR systems and understand how cash flow is operating. They can look at the outgoing, incoming cash and see forecasted trends to manage cash at hand. Following dashboards can be used to manage cash flow: