Finance


The finance industry is an industry in itself as well as an ancillary that supports other industries. Trade and commerce across the world would come to a standstill if there was no means to fund, pay and protect the transactions, hence the need for governments to support the financial services industry when companies that are ‘too big to fail’ are close to collapse. The financial industry, or financial services industry, includes a wide range of companies and institutions involved with money, including businesses providing money management, lending, investing, insuring and securities issuance and trading services. The following institutions are a part of the financial industry: Banks,Credit card issuers,Insurance companies,Investment bankers,Securities traders,Financial planners,Security exchanges.

Ispace ERP Software for FINANCE and Accounts Management provides strong expense management and control, offers streamlined revenue management, increase cash inflow and control cash out flow. It integrates with all FINANCIAL related functions like purchase, purchase return, sales invoice, sales return to streamline and build a strong financial platform for the organization.It fulfils all the obligations related to statutory and legal complains of the organizations

Expenses Monitoring :

Ispace financial management ERP Software provides variety of ways to take control over administrative expenses of the company and assign responsibilities to select people in the department, these measures include:

  • Expense budget MIS tools enables the organization to monitor the budgeted vs actual expenses and take necessary step for those expenses in which actual expenses are more than budgeted
  • Implementation of Cost Centre across the organization leads to better monitoring of expenses divisions, sub divisions and particular head wise. This tool finally helps in reducing administrative expenses

Credit Control Management :

Fixing customer credit limit, alerts on outstanding for more than permitted credit days, outstanding reminder emailing are some of the basic tools available in HDAO ERP Software for FINANCE management to monitor and control receivable accounts. These functionalities help in fast recovery of funds and making organization cash rich.

Operational Expenses Control :

Operational expenses are always booked from base document against material received or services availed by the organization. HDAO Operational expenses control system links bill passing process with material received in store, thus chances of excess expenses booking are eliminated.

Revenue Accounting :

Organizations using standalone software system for accounting, sales, purchase etc, face challenge of variance in figures of both the systems, which leads to revenue loss to the company. HDAO ERP Software automatically generates financial transaction as and when an invoice is raised, thus ensures that no debtors are missed out and company’s revenue is intact.