PCM: Money makes the world go round we are often told so it is no surprise that one of the key tasks that falls to the finance team in any organisation is to make sure there is enough to call on when it is needed. Your FMS will help you record every transaction you make to buy, sell and account for your activity. Your EPM will help you forecast the likely future financial position based on historical trends and other known factors. Your Payments and Cash Management (PCM) solution will help you manage the sending and receiving of payments both domestically and worldwide, minimising late payments and giving the best insight into your future cash flow requirements.
Daily processes to manage available cash consume a substantial amount of time within the finance team. You have tasks to check the bank position, confirm bills/invoices that are ready to pay and to chase down the receivables due to be paid to you.
It is critical that your FMS and ERP solutions contain solutions to help you maximise your available cash position. Wave offers solutions compatible with both our Infor SunSystems FMS solution and our Oracle NetSuite ERP solution.
Powerful bank reconciliation capabilities allow you to import and automatically reconcile bank statements against the accounting records you maintain in your FMS. You should aim to do this as often as possible and thus the greater levels of automation offered by a Wave solution will save you both valuable time and ensure greater real-time accuracy and alignment between your records and the bank’s records.
For both large and small organisations, the range of payment methods offered by the financial institutions can appear overwhelming so, here at Wave, we help you pick the right approach for your situation. Linking your FMS to a wide variety of payment types such as CHAPS, Faster Payments, BACS, SWIFT, SEPA and many more, takes the mystique out of this critical process. Security, encryption, fraud prevention, audit controls and remittances all help to make this part of your day less stressful.
Increasing your working capital and reducing long term or bad debt amounts will resonate as objectives for all organisations and Wave’s PCM focus ensures you can automate many of these tasks to enhance productivity when sending regular statements and reminder letters. Focussing on exceptional interventions only, our solutions for FMS and ERP customers, will target your team to chase the key payments due to you. Watch this short introduction to how we streamline the payment processes with Infor SunSystems
Check out our product pages for the PCM add-ons for the Infor SunSystems FMS provided from our partner Professional Advantage and for the integrated ERP suite from Oracle NetSuite where powerful capabilities provide a range of approaches to shorten the credit-to-cash cycle.