EFP offers an in-depth and sophisticated solution for reporting & analysis, consolidation, budgeting, and dashboarding to complement your use of ERP system.
EFP strikes a unique balance between offering heavy weight FP&A features and ease of use.
Its non-compromising approach to performance and usability ensures the finance team has a unified solution they can depend on. From powerful drill to journal, no coding dashboard setup, superior report formatting options, sensible budget workflow, and overall ease of use, finance teams are guaranteed a reliable operational tool.
Article Audio | How Cloud FP&A Can Help Healthcare Organizations
June 23, 2021 • 7 MIN
When it comes to data management and financial planning, many healthcare companies struggle to adapt to new ways of working. In the past year, the pandemic has undone almost every industry, with healthcare included. From operational disruptions and economic turmoil, finance teams in healthcare companies are under increasing pressure to improve profit margins while dealing with outdated tools and frustrated team members.
Financial execs in healthcare companies must first recognize this need to start exploring how to optimize their systems and processes, their people, and their data for the future.
This podcast will explore how financial planning software can help healthcare in these three challenge areas.
Host Led | EFP Setting the record straight
July 8, 2021 • 14 MIN
Product Marketing Manager, Epicor Financial Planner
- Jan Morath, CEO, DSPanel AB
- Håkan Ebersjö, FP&A Implementation Consultant
- David Bourget, Auditor and Consultant
My name is Errah Cavallin, Product Marketing Manager of Epicor Financial Planner and host of the newest podcast called EFP Setting the record straight.
Today´s episode is all about answering questions constantly asked by customers, consultants, and account managers. These are questions that touch upon the basics of EFP and some misconceptions that people have of EFP.
I am joined by 3 seasoned and highly respected consultants – Jan, Håkan, and David who will answer important EFP questions head on.
Questions such as:
- How much is EFP?
- Is it true EFP is robust but complex to deploy and use?
- What are EFP´s advantages against its competitors?
- What do you get out of the box with EFP?
All these on the first episode of EFP Setting the record straight.
Follow Errah at: https://www.linkedin.com/in/errah-cavallin-6b503558/
Follow EFP at: https://www.linkedin.com/showcase/epicor-financial-planner/
Read more at: www.efpcloud.com
Article Audio | Machine Learning in Finance Goes Mainstream
November 22, 2021 • 5 MIN
Artificial intelligence and machine learning in finance are predicted to provide financial organizations with competitive advantages by boosting efficiencies, reducing costs, and improving the service quality. These competitive advantages can benefit financial consumers by increasing the quality and personalization of products, leveraging data insights to inform investment strategies, and potentially increasing access to financial services by allowing for the analysis of credit standing of clients with restricted credit history.
This article audio will look into typical applications of machine learning in finance in recent times.
Article Audio | Focus Areas to Look Into When Planning an FP&A Solution Upgrade
November 23, 2021 • 4 MIN
Businesses must gather reliable data and have the capacity to draw a meaningful analysis from it for the board to take action in a reasonable timeframe.
This is why more CFOs and finance teams are under increasing pressure to produce rapid and accurate insight and where talks of upgrading to a more advanced FP&A solution may be necessary.
If your organization is looking to upgrade, here are four critical areas to check whether a cloud FP&A solution upgrade is necessary for your organization.
In a world of perpetual disruption and digital transformation, the analysis must keep up with changing queries and predict queries that have yet to be asked but should be. Assess the current level of financial analytics procedures to meet these problems.
Article Audio | Why Use EFP for Financial Reporting
November 25, 2021 • 5 MIN
When tracking business performance, having access to reliable data and reports is crucial to draw an accurate conclusion and decide on the right course of action.
Companies of all sizes often struggle not just with mining data but also with financial reporting.
Shareholders, board of directors, and managers must have complete trust in a company's financial statements. They require factual data to create informed projections of future cash flows' scale, timing, and volatility and determine if the resulting value estimate is appropriately represented in the current stock price. They might also make sensible judgments on whether to invest in or purchase a firm, fostering effective capital allocation.
In most cases, even when done in good faith, financial predictions and judgment calls can be vastly wrong. As a result, unofficial measures have emerged, each with its own set of issues. Last but not least, managers and executives are frequently tempted to misreport financial data intentionally.
Article Audio | Machine Learning: The Future of Financial Planning Analysis
January 7, 2022 • 6 MIN
For the last few years, AI and machine learning technology have changed the face of finance — and for a good reason. Financial forecasting is a bottom-up monthly process in large corporations that involves the work of hundreds of analysts. It is a time-consuming process that entails refining assumptions in Excel, generating base data, aggregation, budget alignment, and so on.
And because financial analysis is a decentralized process that is often dependent on changes to the business landscape, any slight change can affect the accuracy of human-generated forecasts. This is where machine learning in finance can come in useful.
Audio Article | How Cash Flow Forecasting Software Can Help Healthcare Companies Thrive
January 19, 2022 • 4 MIN
Today, every healthcare company is struggling with business disruptions, profit loss, and planning for continuity during the pandemic. Healthcare leaders say their biggest challenge is making significant changes in care delivery. If anything, change needs to be sped up so that healthcare companies can better thrive in this new world.
Adapting to change and investing in new technology such as a healthcare cash flow forecasting tool can make or break an organization's chances of thriving amidst massive changes to the healthcare business model.
Some healthcare companies had business continuity plans, but COVID-19 still completely snuck upon them. All businesses across different industries had to work hard to get back up and running after disrupting their distribution channels.
If there are two things that COVID-19 has taught us, they are that businesses need to adapt quickly and be resilient. The following areas are where cash flow forecasting software like Epicor Financial Planner can help.
Audio Article | The Benefits of Budgeting and Planning Software for Finance Professionals in the Manufacturing Industry
January 26, 2022 • 6 MIN
As with companies of all sizes, accurate financial and budget tracking is essential for manufacturing companies to monitor their finances and prepare for the future. A good budgeting and planning software can help finance professionals in manufacturing industries forecast and make faster, more informed decisions.
Adopting a financial planning software is an obvious solution for managing financials. Still, there are so many options in the market that it is vital to look closely at some of them to understand which tools offer the most value to finance teams.
A more modern financial planning software like Epicor Financial Planner (EFP) is more intuitive, user-friendly, and easy to manage than the traditional Excel spreadsheet, which some companies still use.
If you are still unconvinced why you should adopt a financial budgeting and forecasting software, here are some of its undisputed benefits.
Audio Article | 3 Benefits Manufacturers Can Expect from Using Modern FP&A Software to Maximize Profitability
February 4, 2022 • 5 MIN
To be successful in the manufacturing industry, accuracy and efficiency are essential.
Several components, including infrastructure, supply chains, distribution channels, and others, must be optimized for profitability. Software capable of managing finances and operational data is necessary for manufacturers to make data-backed decisions in the budget and planning process.
Unlike other production areas, financial planning has remained reliant on Excel despite rapid growth and change in other areas. However, the enormous advantages when using a more advanced financial planning software remain unknown to many manufacturers.
Deloitte estimates that firms that take steps to increase performance predictability can experience a 35 percent increase in production capacity. Financial processes must be reduced and standardized to ensure that performance can be reliably forecasted.
The following FP&A software benefits can improve planning, control financial outcomes, and maximize profit for those in manufacturing companies.
Audio Article | 3 Financial Budgeting Mistakes to Avoid in 2022 for Small and Medium-sized Businesses
February 8, 2022 • 5 MIN
Budgeting effectively is critical to the success of a budding business. Creating a financial plan allows companies to forecast expenses and develop an efficient strategy for inbound revenue. An operational budgeting method also will enable organizations to compare performance to expenditure and offers management the green light to assign resources that will assist the company in succeeding.
According to a study, poor cash flow management causes 82 percent of organizations to fail. This is why it is vital for companies, particularly small and medium-sized enterprises (SMBs), to develop a solid budgeting strategy that assures smooth operations in the short and long term.
However, not all budgeting trends produce positive effects. You must review your company's financial plan and build specific budgeting procedures to assist you in making sound financial decisions.
Visit our website: https://zurl.co/tuf3
Article Audio | Smart Financial Planning for Businesses in 2022
February 16, 2022 • 4 MIN
It doesn’t matter if you’ve been in business for a decade or are just getting started; intelligent financial planning and analysis is the key to long-term success. As a business owner, you may feel like you’ve already exhausted all of your time and energy by supporting your employees and addressing the immediate requirements of your clients.
We’ve compiled a list of essential methods to assist you in balancing your front- and back-end business needs so that you can finance your business smarter, not harder.
Visit our website: https://zurl.co/tuf3
Audio Article | Is Machine Learning in Financial Management Relevant for Manufacturing Companies
February 24, 2022 • 5 MIN
Machine learning offers several key benefits in financial management, all arising from finance teams having access to more valuable data from multiple sources. This empowers companies with advanced insights and more sophisticated queries by which to guide crucial business decisions.
Luckily, most of today’s leading cloud financial management software uses AI and machine learning, allowing manufacturing businesses to produce accurate financial projections faster.
Traditional spreadsheets and financial software can’t handle this and are also prone to inaccuracies and errors.
We’ll explore the benefits of machine learning-powered financial management systems for manufacturing companies.
Visit our website: https://zurl.co/tuf3
Audio Article | Benefits of FP&A Software for Manufacturing Companies
March 2, 2022 • 4 MIN
To successfully implement FP&A software in your manufacturing business, you will have to make a significant change to your everyday processes, but you will not regret it.
FP&A software simplifies system integration and boosts productivity across the board. Furthermore, this is only a fraction of how it can assist you.
Listen to our podcast to know the benefits of FP&A software for manufacturing companies.
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Audio Article | What Makes a Good Financial Budgeting Software for 2022
March 16, 2022 • 6 MIN
Due to evolving business situations and other critical events, an organization can benefit from a financial management software in 2022 because it can help manage increasingly complex and multi-faceted transactions and processes.
Companies can also achieve full compliance with demanding financial information management and reporting criteria with the help of financial management software.
So how does a financial budgeting software system accomplish all this, making global financial operations more efficient and productive than ever before?
Listen to the full audio article
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Audio Article | 5 Financial KPIs to Help Measure your Business Performance
March 24, 2022 • 7 MIN
When running a business, it’s difficult to rely on just your gut instinct all the time, especially when it comes to financial reporting. It would help if you were objective rather than subjective when determining your company’s financial health.
One way to objectively track the health of your business is through key performance indicators, otherwise known as KPIs. KPIs are metrics that can help you chart progress towards various business goals — from marketing campaigns to supply chain management and finance.
Listen to the full audio article
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Audio Article | The Enterprise Budgeting Forecasting Software You Need For 2023
August 31, 2022 • 5 MIN
Developing and implementing a solid budgeting and forecasting process is crucial for organizations to build more accurate financial reports and a better understanding of performance, leading to better revenue growth.
And while you may rely on your existing ERP to help you improve specific processes, legacy ERPs don't have the features you need to help you improve your budgeting and forecasting. For that, you'll need budgeting forecasting software like Epicor Financial Planner.
If you're unsure how EFP can help you with your KPIs for budgeting and forecasting or why an enterprise budgeting forecasting software should be something to consider for 2023, listen to this audio article for a few insights worth exploring to help you make that decision.
Check full article: https://bit.ly/3Q6HS4L
Audio Article | Taking the Next Step to Better Business Budgeting
September 6, 2022 • 7 MIN
No matter the size of your business, proper budgeting is crucial to keep track of expenses, compare those estimates to their revenue, and assess whether they have enough capital to fund their operations or expand the business. A business without a proper budget or strategy risks spending more than it earns or not spending enough to grow and be competitive.
You may also read the full article : https://bit.ly/3CXsLHO
Audio Article | Why EFP Is the Best Budget Planning Software
September 12, 2022 • 4 MIN
Being competitive requires businesses to make wise financial decisions. Additionally, it ensures that companies use their time and money wisely for tasks that add value. Understanding what needs to be improved in their daily responsibilities is greatly aided by streamlining the financial closing process and obtaining more accurate data.
This audio article will examine each company's actions to enhance its financial closure procedure.
Check full article: https://bit.ly/3U3QvAa
Audio Article | EFP- Financial Planning Software for SMBs
September 20, 2022 • 4 MIN
For a long time, companies believed that only large and multinational companies needed a solution for centralized financial management. However, this perspective has shifted now that many SaaS companies offer feature-rich on-premise or on-cloud financial planning software.
In this audio article, we’ll look into some reasons why small and medium-sized businesses today are opting for scalable forecasting software.
Check the article: https://bit.ly/3RX86Iz
Audio Article | Necessary Features of a Financial Corporate Performance Management Software
September 28, 2022 • 5 MIN
Corporate performance management software is a crucial tool for companies looking to improve their accounting procedures necessary for the financial closing period. It also seeks to enhance management reporting, analysis, external financial reporting, and disclosure.
Financial management software like Epicor Financial Planner (EFP) empowers CFOs and other business executives to get a clear view of their financial and organizational performance by guaranteeing reliable operational and financial data to make informed business choices.
Check the article: https://bit.ly/3dM63IF
Audio Article | Empower Your Growing Business with a Financial Forecasting Software
October 4, 2022 • 6 MIN
Business uncertainty is the only thing that financial leaders can count on. Since you can't always tell what will happen in the future, financial forecasting provides a framework for developing growth strategies and budgets that are more likely to be successful.
Why is it crucial for your company to have simple budgeting and forecasting software, and what is it exactly?
We'll take a closer look at this article.
Host Led | EFP Setting the record straight - Financial Reporting in Focus
October 12, 2022 • 15 MIN
Host: Errah Cavallin Product Marketing Manager, Epicor Financial Planner
Guest: Randy Smith, Channel Alliances Director at EFP
My name is Errah Cavallin, Product Marketing Manager of Epicor Financial
Planner and host of the podcast EFP Setting the record straight.
Today´s episode is all about Corporate financial reporting. All companies need a
reporting tool. For some they choose Excel spreadsheets, for some it may be a
cloud-based reporting tool, and for others they choose an Excel-based reporting
solution. Some may even have all of them at once.
Today´s episode will touch upon important questions surrounding Corporate Financial Reporting like: Do you really need a separate
financial reporting software when you already have an ERP system that has
reporting capabilities? What are the differences between doing reporting in
Excel versus doing it in EFP?
I am joined today by Randy Smith, the Channel Alliances Director of EFP and a seasoned financial
reporting Sales Executive as he shares with us his views and learnings on Corporate financial reporting.
All these and more on the second episode of EFP Setting the record straight.
Audio Article | Choosing the Right Budget Planning Software
October 20, 2022 • 0 MIN
By 2024, Fortune Business Insights predicts the accounting and financial software market will grow to $416.23 million.
You can find various online financial management systems: robust financial reporting software, reliable budgeting & software, or one that covers both. Identifying your top priorities can help you choose the best application for your business needs.
Some companies that can't find a piece of software that meets all of your needs sometimes consider building their app rather than purchasing a premade solution. This is only possible if you have a solid IT team that can commit much of their time and energy to building, maintaining, and helping finance team use this app. That said, it carries with it many risks as well.
To select the right financial software management software for your business, create a detailed list of the features your accounting software must have. Some features listed here are essential for any sound financial management tool.
Audio Article | Why EFP is the Rising Star of Financial Planning Software in the USA
October 26, 2022 • 6 MIN
When it comes to "holistic financial planning," financial advisors are increasingly relying on cutting-edge and easy-to-use financial-planning software.
Companies looking to be more innovative today will find that the ability to plan and analyze one's financial resources successfully is essential.
Finance and accounting (FP&A) professionals' primary responsibility is to provide timely and accurate financial information to senior management. While it may appear to be a simple clerical job, it offers excellent value. FP&A has recently emerged as a strategic and relevant advantage to organizations, given the rapid pace of business and the complexity of the business environment.
So, what exactly makes this role so significant?
Listen to the audio article.
Audio Article | Corporate Challenges That A Business Budgeting Software Like EFP Can Address in 2023
November 7, 2022 • 4 MIN
The budgeting process is fraught with various significant challenges, including the need for an unusually long time to establish budgets and inaccurate budgeting. In this article, we'll explore in greater depth the different budgeting challenges and how a corporate budgeting software like Epicor Financial Planner can help.
Audio Article | 4 Ways to Use a Budget Tool to Help Your Business
November 8, 2022 • 5 MIN
Using a modern business budgeting tool can result in significant gains, improve effectiveness, and lead to faster, data-driven decision-making. As a finance manager, you're probably interested in digital services for your finance team. Still, you may not have had time to advance due to your expanding workload or being worried about incurring additional costs.
If your company is similar to others, the data silos already in place may make it difficult for you to identify where to get started with choosing the right budget tool to jumpstart digital transformation for your business.
Every department uses its unique set of procedures, and the needed data from other departments is often fragmented and safeguarded. You could be worried about how well-versed in technology your employees are and whether or not they can adapt to a new budget tool. The good news is that making the change does not have to be overwhelming if you start small and keep your emphasis restricted. After all, we all have to begin somewhere.
Listen to the podcast.
Audio Article | EFP- Business Budgeting Apps: How Effective Are They?
November 15, 2022 • 5 MIN
According to polls, one of the primary goals of finance managers is to enhance their planning and forecasting. Despite technology developments, budgeting and forecasting remain significant issues for many firms, regardless of size or industry.
Businesses require a financial budgeting system to keep tabs on corporate spending and generate accurate invoices.
Manual budgets and spreadsheets are rarely considered when building a corporate or personal budget.
It turns out to be a time-consuming and challenging task. Several successful companies are overcoming budgeting and forecasting challenges by incorporating new technologies, such as business budgeting apps and following progressive companies' lead in adopting best practices. They can use these systems to develop realistic budgets, save time, increase collaboration, and make more competent judgments.
Listen to the podcast.
Audio Article | Important Issues That Epicor Financial Planner Can Help Address in Financial Reporting
November 24, 2022 • 6 MIN
Working in finance can be exciting and rewarding, but it has its share problems. Although most businesses recognize the importance of data integrity and accuracy, they also face a mounting challenge in managing their financial data's increasing volume and complexity. Instead of just working more, today’s finance professionals need to find a way to work smarter by using the best financial reporting software and technology available to get the task done quickly, effectively, and precisely.
The three most challenging aspects of financial reporting are discussed in this article. You'll get insight into how top finance departments leverage technology to boost efficiency in report generation, reduce reliance on time-consuming manual processes, provide instant access to crucial business data for executives, and inspire trust among the company's many stakeholders.
Listen to the podcast.
Why EFP Is the Best Financial Reporting Software for 2023
December 13, 2022 • 4 MIN
Is there a way for your finance department to become more efficient while still being able to contribute to the company’s long-term success?
In the past few years, many companies continue to grapple with new technology to ensure their teams can work smarter, not harder. However, for finance teams, finding the right financial reporting software can be challenging as there are too many solutions available today and finding the right fit is a long journey ahead.
Listen to the full audio article.
CFO Challenges To Watch Out For In 2023: Labor Problems
January 26, 2023 • 6 MIN
How can CFOs approach new problems in 2023? Recent shocking incidents demand creativity and a revamp of business procedures to flourish in 2023.
Since 2019, CFOs have experienced a deluge of significant shock events that have affected their strategic growth plans and daily operations, ranging from Covid-19 and its associated lockdowns to geopolitical crises like the war in Ukraine.
Many CFOs will need to take further action as 2023 gets underway to support their businesses through macroeconomic challenges, including inflation and rising interest rates in the shadow of the pandemic.
Listen to the podcast article.
CFO Challenges: Dealing with Outdated & Contrasting Data
February 20, 2023 • 5 MIN
In our previous podcast, we talked about the first challenge for CFOs in 2023. As a CFO, you’re also tasked with making financial decisions based on data that must be accurate and up-to-date. But when your company is dealing with outdated and disparate data, how can you make informed decisions? In this podcast, we’ll take a look at the challenges CFOs face when dealing with outdated data and how they can overcome them.
According to Accenture, 76% of CFOs believe that bringing disparate data together is essential to achieving business goals. Another vital aspect of helping address data siloes is the need for CFOs to ensure the accuracy and auditability of a company's financial statements.
Listen to the podcast
CFO Challenges: Automation & Technology Implementation
March 29, 2023 • 6 MIN
Today, many companies embrace technology in new ways, with successes that drive revenue growth while keeping employees remotely connected. Implementing different technology to facilitate automation will be a crucial challenge for CFOs in 2023 and beyond.
A quarter of CFOs say they have fully automated their payroll and invoice management processes, and nearly 45% say automation is underway in both cases. Other automated financial functions include order management, expense management, vendor payments, payroll, and data analysis.
Listen to the podcast.