With increased focus on getting hours billed as soon as possible, we were pleased to see that in April, 100% of hours were invoiced in the current month. Not only does this improve our cash flow, it also makes our monthly revenue figures more accurate as they are based on actual billed hours.
Hans Wolfhagen, Director of Business Operations:
Technia
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The cornerstone of any business management solution is the financial ledgers. Maconomy is no exception and provides a fully integrated set of ledgers comprising:
- General Ledger
- Accounts Receivable
- Accounts Payable
- Finance Budgeting
- Fixed Assets
Financial ledgers are essential when it comes to managing your business. What makes Maconomy unique is the fact that all the core financial ledgers are fully integrated with Maconomy’s comprehensive job costing module.
Cash flow is improved with Maconomy’s optimized invoice process where project costs can be invoiced as they incur. Maconomy’s financial model fully supports WIP evaluation, revenue recognition, intercompany transactions across business units, and multiple reporting currencies. Cash flow is strengthened even further through automatic reminders of due invoices, ensuring effective follow-up. Full matching principle is maintained throughout the system, allowing for fast and accurate month closing.
Maconomy ensures fast and accurate financial reporting. Everyone in your organization shares the same information at the same time. And because this is real time data, you can make informed decisions and manage your business using accurate, timely financial information.
