To ensure financial agility Finly was designed for creating, connecting, storing, and reporting finance transactions.
A truly effective financial management system can: optimize profitability, ensure 0% cash leakage, determine tax obligations, ensure compliance, measure cash flow, and maintain long-term enterprise sustainability.
Multi-Level Approval: Highly flexible & configurable platform allows you to customize multiple levels of approval-flow based on the organizational hierarchy. Multiple levels of approval stages can be configured involving various stakeholders to approve the request raised by an employee and be notified via email. The system can also be configured to automate the notification reminder to approve or disapprove any pending requests.
Three-Way Matching: Finly’s intelligent Expense Management system automates the process of matching money advance, expense report & settlements.
Any purchase order raised through Finly’s automated E-Procurement system is automatically mapped against the invoice received. Multiple other data points such as delivery of the product, payments & E-Way Bill are auto-mapped against the purchase order.
User Role Controls: Map access controls of a user based on roles or responsibility of the user. Access can be revoked at any given point of time by the authorized administrator. Based on roles, policies can be implemented to limit purchases or expenses.
Automated Spend Tracking: Automatically track spend With Finly prepaid card, OCR Engine or through payments made from the Bank. Finly system captures pre-configured details like date of transaction, amount and merchant name on a real-time basis.
Budget Allocation & Insights: Allocate budgets to your departments, branches or outlets and monitor spend against the budget in real-time. Gain complete visibility & control over spend. With enhanced analytics & data visualization make a data-driven decision and control your business expense
Web & Mobile: The cloud-based system coupled with Finly’s mobile application, allows you to capture all of your expenses on the go by just taking a snapshot of expense vouchers. Finly is accessible from any web browser with internet access and available 24/7 to automate the process of capturing all details with respect to business spend.
Payment Automation: With Finly’s business payment system, you can split payments and make vendor payouts, manage all your marketplace payouts to the vendor’s bank account and much more. Through powerful API banking, you can also schedule these payments. Set automated reminder notification through email / SMS to notify employees or vendors or critical activities.
Clear Accounting Treatment: Eliminate the error-prone manual process of entering data into your accounting software. Ensure data is entered accurately into the ledgers. Ensure master line-by-line entry of all financial transaction into the general ledger. For each transaction, ensure accurate entry for the GL record which includes: the associated amount, account, date, description, transaction number, and type. Data is also captured on a sub-ledger level to the GL, aligned by divisions, plants, locations, countries, or major projects thereby improving accounting accuracy and financial transparency for tax payments, budget and financial planning, as well as financial analysis, and reporting.