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For organizations with more than one location, records of the transactions that occur across the business are often disorganized, making it harder to gain the insight you need to address resource requirements, meet customer expectations, and improve profitability.
Depending on your business needs, Epicor Financials offers several optional modules, licensed separately:
Benefits
With the Multi-Site Management module in Epicor Financials, you can easily set up different companies, manage intercompany activity, and gain financial control on all sites in one system. Each company may run Epicor Financials in the cloud or on-premises, for ultimate business flexibility and regional fit. Easily include any number of servers, databases, cloud data centers, companies, countries, and continents across your sites or companies to achieve a borderless global business.
Non-manufacturing, financials-only, or services businesses that do not manage large volumes of materials with the intent to manufacture, assemble, or trade, can also benefit from the Multi-Site Management license. This license enables them to organize their activities into multiple companies as required by the business.
For example, different business lines, cost centers, and subsidiaries can become reginal or local stand-alone legal entities, while Epicor Financials consolidates all fiscal transactions. This empowers CFOS or finance managers to easily oversee business performance across the entire network of companies.
In a multi-company environment, communication occurs through special intercompany transactions that can be orders, shipments, invoices, payments, and more. Manage your parts, suppliers, and customers globally— performing multi-plant scheduling, centralizing collections, and managing customer credits for all sites in a unified system. Multi-company journal entries and consolidation capabilities make financial management and reporting optimize efficiency:
Some businesses need to manage a network of physical sites, which is represented in the financial accounting by separate ranges of GL accounts being associated with each site. This happens in the Building Supply industry, where customers need to manage bookings separately for each site while still having a unified General Ledger for the entire business.
In this case, Epicor Financials offers the possibility of securely separating all transactions and letting site users access only the relevant. Only authorized corporate users can access and work with the full range of GL accounts. This separation works across several activities in Epicor Financials, including invoices, payments, AP, GL transaction entries, allocations, period closing, trackers, dashboards, reports, and more.
Larger businesses may want to run several Charts of Accounts for the same company, each with slightly different behavior, to meet legal requirements and different concepts of company management. Books can use different currencies and different reporting levels in consolidated environments with a translation of processing transactions.
Globally, there are different accounting principles, and standards in place, such as GAAP in the US or IFRS internationally. As a result, one company may have different books representing the same set of actual business transactions (invoices, payments, adjustment transactions, and more), but in a different accounting structure. Some companies need to prepare their corporate reporting in a specific format in their headquarters while maintaining a locally accepted version of their accounting.
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Thousands of enterprises rely on Epicor software to help them grow and scale. Bring us your questions. Tell us what's working and what's not. We'll work with you to curate the right solution for your business.