Because of the nuanced operations within supply chains, creating Financial Management Software (FMS) for the supply chain industry is rarely a straightforward proposition. However, OnAccount (OA) is built on a framework that helps facilitate exactly the kind of flexibility required for logistics service providers.
This article highlights three recent capabilities that exhibit exactly how the OA team anticipates and adapts to changing conditions within the logistics sector.
Authorisation
Feature: Authorisation Workflow
Problem Solved: Replacing the paper and email sign-offs associated with approvals
The authorisation process often creates an endless feedback loop for customer teams which involves the chasing down of physical signatures or emails, screenshots, photographs and/or supporting documentation.
The new OA authorisation entry workflow feature is secure, easily configurable and can be applied across multiple transaction types (including journals, payments, receipts or sales).
By removing the disjointed paper trails typically involved in financial approval and creating new audit trails in their place, the overcomplicated approval process will become a lot simpler, freeing up both time and resources.
Conversations
Feature: Conversation Interface
Problem Solved: Lack of an easy-to-access communication channel for financials
OnAccount’s Conversations feature improves communication and collaboration among users by creating an intuitive comms channel directly within the OA platform.
All conversations that transpire within the OA interface are automatically attached to the relevant transaction or account, providing a convenient audit trail for users to consult if they have additional queries later on.
Before this feature, users had to create emails with the relevant screenshot attachments and then file these emails away if they wanted to review them later. Beyond the extra work this creates for what should be a quick and simple discussion, it creates future headaches if records need to be looked up and personnel on the team have changed roles or moved on.
OA Conversations are easy to start between OA users, either with individuals or multiple people (using OA user groups). This is a simple and effective tool for coordinating queries associated with accounts, payments or invoicing.
Purchase Order Management
Feature: Enhanced automation for purchase orders
Problem Solved: Reinvent the purchase-to-pay process
The sometimes convoluted process of purchase order authorisation can be unnecessarily time consuming and involve chasing approvers who may be away or are otherwise unavailable. User managed Out of Office settings effectively removes roadblocks and delays by automatically assigning orders to available approvers.
OA’s Purchase Order workflow feature enables the configuration of automated authorisation workflows. These workflows eliminate red tape by auto-approving low-value orders, improving the internal controls for higher-value orders through adaptable and transparent approver hierarchies.
Not only does this make life easier for everyone involved in the authorisation of purchase orders, but it helps management focus on higher value costs by removing noise from the seemingly endless approval carousel.
OA Never Stops Evolving
We work with our clients to integrate their financial and operational components in a transparent and efficient way. New capabilities are only one part of the story. When our customer’s transform, we transform with them.
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