How would you feel if you could access online data that allows you to understand the status quo of your business; not having to waste time in closing processes; and to derive the accounting, financial and logistic information of each transaction as your operation takes place?
The promise of an enterprise operating system (EOS) is to put the reality of your organization at your fingertips. Think about how you currently control your financial transaction data and tell me if you would rather not have all your transactional information in real-time.
An enterprise operating system (EOS) acts under an end-to-end model, that means it makes use of cycles of management transversal processes to the inside of the organisation.
This approach chains the information of processes and activities in the same way that they happen: they start when a need arises and do not end until it is satisfied in the organisation.
From the point of the system, instead of generating different data in independent modules (the classic modules of an ERP), the EOS integrates them according to their natural cycles. In this way, the interaction between different people, stages of processes and information, are fully reflected within the system.
By transferring this line of thought to the control and fluid management of the entire financial operation, they achieve great benefits. Let’s consider some…
- By having directly established all the rules of operation within the system, such as early payment rates and late payment rates, as well as credit limits, payment methods, among other commercial agreements, LOVIS EOS concentrates the total financial operations in an agile and secure manner. The invoices of customers or suppliers that come from sales and purchase orders, respectively, are automatically generated based on what was delivered and received, so that the amounts are real and the agreed upon payment is made.
- Likewise, the corresponding credit notes are issued based on the returns or claims made, referring to the facts and reducing the balance of the account receivable or original promissory note.
- The movements of income and expenditures by bank account are also carried within the system, thus facilitating the visualization of the movements of the cash over time and being able to contemplate the current state of banks, cash and flow. In the same way, the company can count on the global of what will happen and with estimates based on purchase orders / services and billing, which allows to know in advance the flow with possible scenarios, so that the company can anticipate and make more effective decisions.
- LOVIS EOS, in turn, includes the function of establishing scheduled financial documents, thus allowing the automatic registration of accounts receivable or payable that are periodic / recurring; with the facility to pay off those transactions with emission of expenses or also automated income.
- In addition, by simulating the behaviour of the balance of your bank accounts, you facilitate decision-making and have a favourable impact on your liquidity. LOVIS EOS responds simply to questions such as, is it necessary to postpone any payment? What happens if I do not pay a particular receipt? Or, do I commit the rest of my payments when making this or that decision?
- With LOVIS you can generate cash flow scheduling, schedule your payments automatically, cancel the corresponding liabilities and print the checks in the required format, as well as automatically create scatter files to upload to the portals banking systems automatically and thus avoid making transfers one by one. Being able to schedule your income and expenses automatically, you save time that you can use in managing your investments or looking for investors, among other activities.
- In addition to being able to count on the difference of a reconciled balance and a bank balance in order to be able to generate the income and expenses at the time they happen, even if they are not reflected in the bank statement, you can identify a movement effectively performed and reconciled, allowing the identification and follow-up of both unidentified deposits and the application against the correct customer or supplier account.
- With LOVIS EOS it is possible to derive the total of the financial statements automatically at any moment, without long and complicated period closings. You can count statements of results by cost centre and by project, among others, presented in the currencies that require them.
In LOVIS EOS it is possible to obtain your tax information with a single click; since it has automatic reports for information on income tax (ISR), informational statement of operations with third parties (DIOT) and VAT. Same as, automatically, it makes the corresponding transfers depending on whether an operation is actually collected or paid. In this way, your accountants will be able to know this information day by day and to foresee situations to maximize your cash flow.