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com

Global Financial
Management
Solution
AN INTUITIVE FINANCE AND
ACCOUNTING SOLUTION THAT
ENABLES STRATEGIC
FINANCIAL MANAGEMENT

KEY BENEFITS
ENABLES STRATEGIC IFRS 16 COMPLIANT
FINANCIAL MANAGEMENT With a growing need for transparency and
Make critical business decisions based on comparison of global financial statements, it is
historical and up-to-date financial data!Whether important to stay ahead of the curve with regard
you want to manage various tax calculations, to changes in government regulations and
monitor the cash-flow or trade credit, analyze compliance requirements. To meet this
the projected budget vs. the actuals or even requirement, VIENNA Advantage has moved
closely track account receivables against the towards the adoption of International Financial
account payables, VIENNA Advantage Financial Reporting Standards (IFRS) as the global
Management solution helps you ascertain the standard for financial statements across
effectiveness and efficiency of your financial companies.
performance.
SUPPORTS MULTI-COUNTRY
AND MULTI-CURRENCY
ACCOUNTING STANDARDS
VIENNA Advantage Financial Management
Solution supports accounting standards of all
countries across the globe. Furthermore, the
solution supports you in managing multiple
organizations spread out across different
locations, it allows for transactions in multiple
global currencies as well as assist in making
currency-rate adjustments, thereby making it a
swift and efficient process for you.

MULTI-DIMENSIONAL ACCOUNTING
The use of Business Intelligence (BI) application
allows for multi-dimensional accounting which
eliminates cracks between business accounting
and modern information technology. VIENNA
Advantage provides value across multiple
dimensions ranging across the operational,
managerial, and strategic levels.

MULTIPLE BUSINESS
LOCATION MANAGEMENT
Manage multiple organizations (be it legal or
non-legal entities), spread out across different
geographical locations. You can assess the
financial performance of each of your business
locations remotely and in real-time.

IMPROVE CASH MANAGEMENT

Improve your cash management and collection
by automatically calculating and highlighting all
due amounts and net due dates as well as the
accounts payables and receivables. The solution
provides a number of reports designed to
analyze cash flow, focusing on collection activity,
and enhancing financial management.

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KEY FEATURES

SIMPLIFY YOUR Our Business Cockpit lets you access all important and relevant
DAILY TASKS WITH business-related information on a single view making the execution
of tasks simpler. All information related to payments, accounting, and
VIENNA ADVANTAGE banking is easily accessible, making it less time-consuming and very
BUSINESS COCKPIT cost-effective for you.

ROBUST AND Flexible Chart of Accounts:

ADAPTABLE GENERAL Define a multi-dimensional Chart of Accounts that enables the user
LEDGER ACCOUNTING to perform powerful financial analysis and performance
measurements. The user-defined structure is dynamic and can be
One of the key features of changed easily as the business evolves. Each account can be used to
VIENNA Advantage Financial accept both financial amounts and statistical information for
Management solution is its reporting purposes.
ability to seamlessly manage all
relevant accounting steps, Journal Entries:
involving year-end processes, With the VIENNA Advantage Financial Management Solution, the
general ledger categorization user can post various types of journal entries:
and distribution, defining tax
categories and tax rates, etc. • Regular and intercompany journals
• Approval process for adjustment entries
• Allow journals for recurring transactions
• Automatic reversal option
• Balance transfer to multiple ledgers
• Powerful allocation engine
• Excel import facility for journals
Control And Consistency:
Transactions from other VIENNA Advantage modules are designed
to integrate with the General Ledger module seamlessly. Fiscal
calendars, accounting period definitions, and closing rules provide
control and consistency for applications that impact the General
Ledger.
Variable Fiscal Calendar:
VIENNA Advantage Financial Management Solution allows each
operating unit to use its own fiscal calendar. Each transaction group
may be closed independently. Multiple periods or calendars can be
open simultaneously so that normal operations are not disrupted
during period closing.

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KEY FEATURES

CONTROL YOUR Ability to issue Purchase Requisition (PR) with or without

PAYABLES Purchase Order (PO) budget permitting
Control your payables with a Ability to revert budget to its initial allocation in the event of PR
powerful set of tools provided cancellation and amendment
by VIENNA Advantage Financial Vendor invoice approval process either by batch or on an
Management solution. Each of individual basis Integration of procurement with the product
them helps you manage the cost
payment side of your business
efficiently. Match invoices to purchase order and receipt
Support currency and exchange rate conversions based on the
exchange rates valid on the date of invoicing
Automate financial distributions with templates
Distribute expenses across multiple divisions
Support Value-Added Tax (VAT)
Direct allocation of supplier charge to projects
Capable of holding payments
Recognition of deferred expenditures
Calculates discounts and net due dates automatically
Automatic calculation of purchase price variations
Processes individual and batch invoice payments and approval
Capable of paying an invoice in any currency
Centralized and decentralized payments
Payment scheduling
Withholding tax management
Automatic calculation of realized exchange gain or loss
Revalue foreign payables for currency exchange rate change with
variances

BANK AND CASH Cashbook

MANAGEMENT • Cash entry
VIENNA Advantage Financial • Cash payments / receipts
Management solution reduces
an inordinate amount of time Cash Forecasting - Forecast the cash based on:
usually spent on routine cash Payment history, payment terms, or a specified number of
and bank management tasks. days
Simultaneously, it improves the
accuracy in paying your vendors Current exchange rates
via wire transfers, collect from Business unit
your customers who have opted
for direct debit as well as Inflows and outflows
reconcile your bank accounts by Bank Reconciliation
uploading the bank’s file.
Electronic or manual matching
Reconcile either in bank currency or base currency
Ability to generate bank reconciliation statement report
showing difference of ‘Balance as per bank’ and ‘Balance as
per books of accounts’
Provides for foreign currency revaluation up until cash is
cleared

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KEY FEATURES

OPTIMIZE RECEIVABLES • Visibility into a customer’s balance and credit history

Maximize return on assets by • Credit monitoring
providing a focused collection • Ability to set level of invoice approval
system to keep cash
outstanding to a minimum. • Currencies with exchange rates
• Supports Value-Added Tax (VAT)
• Unapplied cash receipts or cash gets directly applied to invoices
• Apply cash by invoice number, customer number or location
• Direct Debit processing
• Issue receipts
• Adjustment for payment term discount
• Ability to write-off charges
Ability to link vendor and customer account(s) and offset
transactions
• Customer statement of accounts
• Dunning
• Internal billing / Counter documents
• Advance payment and bulk advance payment facility
• Debit Note and Credit Note feature
• Interest calculation on delayed payments

BUDGET AND In order to manage your budget vs your actuals, you will need a
OUTLOOK SIMULATION dynamic solution that allows you to define budget at multiple
dimensional levels, such as organization, cost center, project, activity,
etc., and then link that budget with purchase requisition and orders
and expenses transactions. The Financial Management solution from
VIENNA Advantage further allows you to maintain multiple budgets
and forecast versions.

ACCURATE AND Track your product more accurately and manage your purchase and
AUTOMATED PRODUCT material transactionsthrough an automated process. Follow costings
and surcharges and make informed costing decisions with real-time
COSTING reports.

FIXED ASSET Improve your business performance drastically by automating your

MANAGEMENT fixed asset management with VIENNA Advantage Financial
Management solution. Whether it is individual assets or groups of
assets, track their life and maintenance activities automatically using
various scheduling tools. Moreover, the solution allows you to track
the location and movement of each asset, manage deliveries of
assets to business partners or customers and also select from a
range of depreciation methods of assets.

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 KEY FEATURES

CUSTOMIZED FINANCIAL Access a dynamic multi-dimensional view of your corporate finances.

REPORTING In addition to standard reporting formats and standards, our solution
lets you customize your reports and build customizable dashboards.
All financial reporting is under user control through a self-contained
financial Report Writer module. Single or multiple period reporting
can be used to define relevant reports such as income statements,
balance sheets, divisional consolidations, period comparatives,
budgets, and outlook reports. This feature can be used to maintain
statistical as well as financial results. You can make use of current
trends and forecasts to generate reports that are tailored specifically
to your observations and experiences.

FLEXIBLE TAX In order to localize the management of your taxes, VIENNA

MANAGEMENT ENGINE Advantage offers you a flexible tax management feature that allows
you to define country-specific tax legislations and generate periodic
tax declarations accordingly. The solution follows a formula-based tax
calculation which can be defined specifically as per your
requirements.

SET SERVICE LEVEL Service Level Agreements (SAL) are a key part of any business which
AGREEMENTS allows you to set KPIs for every stakeholder in your business, be it
your business partners, your employees, or even your customers.
Now, you can set financial and non-financial targets and receive
alerts in the event of a change in, or on completion of these targets.

FINANCIAL VIENNA Advantage provides an end-to-end solution that effectively

CONSOLIDATION and efficiently manages the consolidation and close process.
Irrespective of the size, you can have 100% confidence in your
organization’s financial consolidation, close and reporting processes.
VIENNA Advantage ensures that processes are dependable and
correct, timely and transparent, streamlined and efficient and,
compliant and auditable.

LEASE MANAGEMENT Manage lease contract information, asset details, fixed and variable
lease parameters
Manage the new lease
standards including data Alert for due lease payments
collection, calculations, Calculate right of use, interest expense, amortization and
reporting and disclosures with repayments
an end-to-end solution.
• Perform overall lease liability computation
• Manage sub-leases
• Initiate renewal of lease agreement
• Upload and attach soft copies to the lease agreement

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