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Here's how to keep the financial administration weave in line

For many years, one of our customers had been dealing with a tangled web of financial administration. Over the years, they had purchased all sorts of applications, some of which were poorly integrated. The result: the financial administration was completely out of control. They had to collect transactions everywhere that sometimes contained all kinds of errors. To structure this mess, Eqeep guided them through the transition to a single integrated financial system. We tell you what this has resulted in.

From separate applications to one integrated system

The challenge was clear: different applications and different financial transactions had to come together in one integrated financial system. This became our IFS application. Where previously they were dealing with all kinds of separate Excel files, now all applications and transactions come together. This also allowed them to merge the fragmented processes into one clear process. At the same time, this means simplification of knowledge, as they now only need knowledge of the IFS application to keep the financial administration running.

The result: more simplicity, fewer errors and lower costs

By working with IFS, the customer can now streamline routine tasks and complete transactions faster and more accurately. Every item is entered all at once, in one system and in one way, which greatly minimized the chance of errors. The employee onboarding process also became a lot easier, as there is only one system with one work instruction they need to learn about. All in all, the move to IFS resulted in more simplicity and less cost for the company.

Improving every aspect in the process

The benefits were not just limited to operational efficiencies. By streamlining financial processes, customers gained better insight into budgeting (and more time to look at it), were able to spot trends more easily, and improved their cash flow. Approvals that were previously scattered across different applications are now consolidated into one easy-to-read system. This made communication and collaboration within the company much better. And security also became easier with one central application for user management and access rights.

From local to central: your finances available everywhere

The switch from separate Excel files to IFS, or from local to central data storage in the cloud, provided our customer the ability to work from any location at the same time. This allows employees to log into the system at any time, no matter where they are. This keeps them at the front of the industry in that area as well, which is exactly what we do at Eqeep. Because we are closely involved with our customers and continuously expand our knowledge, we ensure that they continue to develop and improve themselves.

IFS and AI: what is possible?

Steve Alink, Solution Architect at Eqeep: "For this customer, we significantly improved their financial administration, but we didn't stop there. We are constantly working on making financial processes smarter and we always include our customers in that. For example, AI solutions are currently a hot topic within IFS. We expect to deliver more and more value with this, so that our customers not only have a smart system, but also stay ahead in their industry."

Is your financial administration also currently just a mess? And are you curious about how to solve that easily? Then get in touch with us! Our consultants will gladly show you the possibilities within your organization by presenting a business case. Also, read how you can easily generate financial reports.

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