Your financial management system must have the ability to transcend borders, languages, and currencies at the same time. Access to critical real-time information whenever needed to make informed business decisions.
You will experience all this and more with Infor SunSystems Cloud, a financial management system powerful and flexible enough to meet your needs today and as your business grows.
What is Infor SunSystems, and what does it entail so you can succeed in today's global business environment?
Infor SunSystems is a comprehensive financial management system that caters to the needs of international businesses and rapidly expanding companies, assisting them in managing complex financial operations.
Infor SunSystems is simple to use yet flexible enough to meet a wide range of accounting requirements. You control all the accounting structures, entry types, processing rules, and reporting functions, and you can tailor them to meet business requirements.
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With Infor SunSystems, you can run your entire business on a unified platform by integrating and extending Infor SunSystems with additional business systems, such as HR payroll, bank systems, and more.
From version 6, the solution is powered by Infor Operating Services, or Infor OS, a platform or powerhouse for your transformation. It acts as a central point for your entire enterprise ecosystem, where you can automate, predict, and inform stakeholders of all the things they do.
Then, there is SunSystems Cloud.
Infor SunSystems Cloud has ushered in a new era for this venerable accounting software and its extensive ecosystem. This MT (multi-tenant) SaaS solution is the first SunSystems version to be hosted on a multi-tenant cloud, making the benefits of the cloud available to all customers, regardless of scale.
With monthly updates, you can be assured of the latest fixes, security patches, and features to keep your financial management system running at its best.
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Key features of Infor SunSystems Cloud
SunSystems maintains all your accounting details within a single integrated ledger. You do not need to set up separate ledgers for receivables, payables, projects, or fixed asset registers, as they are combined into a single unified ledger.
This integration and real-time processing ensure that all accounts are always up-to-date and balanced. It also avoids the risk of data duplication and reduces the possibility of error.
The single source of financial data means that reports and inquiries always reflect the company's latest financial situation.
Unified chart of accounts structure
The unified ledger environment in Infor SunSystems enables easy reporting across all transactions without the need for reconciliation, as all transactions are posted to the same data set simultaneously.
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Unlike traditional systems, there is no need for a batch posting to the general ledger to process, for instance, inventory. With the unified ledger, postings are done and updated to the general ledger in real-time, saving time and avoiding duplications that would otherwise require investigation.
In addition, the unified ledger allows for a single chart of account structure across all modules, eliminating the need for different or separate account structures as required in traditional systems.
Most business accounting systems offer multi-company support features as standard. However, Infor SunSystems goes above and beyond by enabling the configuration of each business as a separate entity. With a single deployment, each company can have its own base currency, chart of accounts, and business rules to meet local requirements. This allows each configuration to have its own independent setup or multiple companies, all supported within a single business entity.
For companies operating with multiple independent entities, producing timely and accurate financial reports for each individual entity, as well as consolidated reporting, can be a challenge. SunSystems's multi-company and multi-currency features allow easy report consolidation with the desired currency.
Furthermore, for companies seeking to expand to different regions or countries while maintaining the same business structure, SunSystems offers consistent multi-company features, enabling easy replication of the parent company to subsidiaries with minimum effort and cost.
Infor SunSystems allows for the definition of an unlimited number of companies and business units, making it particularly well-suited to meet the accounting and reporting requirements of a multi-entity, multi-location organisation.
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In addition to the actual workbook or ledger, where our day-in and day-out postings are done, Infor SunSystems allows us to define up to 10 extra budget workbooks. These books share the same accounting structure and setup but hold separate transactions.
By having separate workbooks for specific purposes, it is easier to manage and track data and collaborate with stakeholders who may contribute to the budgeting and forecasting process.
Multiple financial periods
You will be able to define up to 999 periods within a single financial year. This means that you are able to close your books up to three times within a single day.
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The Infor SunSystems multi-currency feature enables businesses to define up to four different currency values for each transaction. These include the transaction currency (variable), used for the transaction, and the base currency (or home currency; fixed), used for reporting. Additionally, a fourth currency can be defined if required. This feature ensures compliance with generally accepted accounting principles and international financial reporting standards.
Flexible conversion rates, or exchange rates, can also be defined in Infor SunSystems. Daily, weekly, monthly, or other rates can be used and automatically or manually populated for each transaction. Automatic evaluation can be performed, with gains and losses posted to the appropriate accounts. This provides greater flexibility and accuracy in managing multi-currency transactions and reporting.
Ready to take your financial management to the next level with SunSystems Cloud? Download our comprehensive 7-in-1 information kit today and discover how this powerful platform can empower your business to succeed.