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Refine Business Strategy with Targeted Performance Insights
FP&A teams that use AI-powered solutions to generate insights can leverage up to 95% better forecasting accuracy and a significant reduction in financial planning time. Increasing costs, changing consumer habits, and intensifying competition are just a few of the many challenges distributors face. When you combine these issues with declining margins and a tighter squeeze in operating cash, it is imperative to have solid corporate financial planning. This means better budgeting, better financial modeling, and streamlined data analysis and performance reporting.
Epicor delivers in the financial planning arena, with its recently introduced Epicor Financial Planning & Analysis (Epicor FP&A) for all Prophet 21 customers. Epicor FP&A is a distribution-focused SaaS solution designed to identify efficiencies in your finance processes, reduce workload, improve productivity, and ultimately, make for happier customers and happier company financial analysts.
Let's look at how Epicor can help your business with its strategic financial planning, simplifying business, and increasing your bottom line.
This article highlights the five core benefits of using Epicor FP&A software for your entire organization, from the chief financial officer (CFO) to analysts and production floor staff.
Epicor's financial planning and data analysis software delivers total transparency and real-time analysis of financial and operational data. This includes spending patterns and operational costs such as distribution, warehouse labor, and capital expenditures.
Confidently make on-the-spot decisions, based on accurate financial models and up-to-the-minute data across all business units. In most scenarios, Epicor FP&A can slash traditional FP&A task time by 50-90%, dramatically elevating productivity and morale for your financial planning and analysis team.
There is no shortage of challenges within the distribution industry. In recent years, businesses have navigated major supply chain hurdles, increasing overhead costs, labor shortages, shifting market dynamics, and rapidly emerging cloud-based and AI technologies.
Epicor can help you meet today's business challenges while maintaining a healthy cash flow to manage supplier payments, overhead, and fuel growth. Epicor's financial analysis software seamlessly manages data collection and historical financial data integration for accurate financial forecasts.
Easily generate reports in seconds, with no coding needed. Senior management can run financial performance reports in seconds—without waiting on the BI team—to get a granular analysis and see ways to optimize cash flow. Epicor's financial planning and analysis software analyzes revenue streams to identify the highest-margin products, services, and customer segments so you can make informed pricing decisions.
Epicor financial software allows you to maintain a strong market position and adapt to evolving challenges, such as fluctuations in demand and economic pressures. Its robust suite of financial forecasting and planning capabilities lets you incorporate historical data into current forecasts to model various scenarios, assess potential outcomes, and adjust strategies. With more precise forecasting combined with greater accuracy and timeliness in your reporting, you can be more decisive operationally and strategically.
At a minimum, any financial tool should be able to monitor business drivers and key performance indicators. But Epicor FP&A goes far above and beyond. With it, you can accurately report on past and current performance, allowing you to set trigger actions to manage the business and financial affairs as they unfold in real time.
With Epicor FP&A, you can produce profit and loss financial statements, income and cash flow statements, and balance sheets. It can also effortlessly generate ad hoc reports aligned with business requirements.
Epicor FP&A enables you to stay on top of increasing and always-evolving regulatory demands. It supports accounting standards like US GAAP, as well as other local GAAPs and IFRS. This makes it easy to manage reporting compliance demands and track potential risks while also implementing strategies to safeguard your company's financial well-being.
In a highly competitive and unpredictable market, having a solid financial strategy in place is a must. Unlock your data's potential with Epicor FP&A and discover the advantages of this flexible solution now. Connect with us to learn more about the capabilities and benefits of Epicor FP&A.
