Whether through acquisition or organic growth, more and more companies are wrestling with the complexities of managing multiple business entities. Epicor understands that managing disparate business units offers unique challenges and opportunities with respect to consolidation for tighter control and reduced operational cost, enterprise-wide visibility, inter-company supply chain management, and financial consolidation. Epicor Multicompany Management capabilities can assist your business in consolidating operations such as procurement and accounts payable as well as offer enhanced tools to improve operational visibility across companies. Automation of inter-company financial transactions, as well as financial recognition, optimizes enterprise performance to shorten lead times on key product lines. Additionally, from a financial perspective, multicompany organizations may choose to not only report as individual entities but also consolidate multiple currencies and report across business entities to a single consolidation company.
Underpinning this functionality is a complete technology framework to support global enterprises that is scalable, offers a choice in deployment, and includes a set of productivity-enhancing tools designed for global business operations.
Define global customers, parts, and suppliers. Defining global records that can be transferred between companies and maintained either globally or locally based on a set of user-defined rules and mappings, automatically ensures that new and changed records are sent to all companies within your enterprise.
Define each company with its own credit limit against a customer, or define a global credit limit for all companies conducting business with that global customer, thereby facilitating a more comprehensive global credit management system.
Automatically send raw material forecasts to supplier companies that can be transported into an MRP Forecast.
Establish individual accounts, including inter-company elimination accounts, for each plant and company.
Allows the flagging of suppliers as a Global Supplier that will be centrally paid and managed. Any AP invoice or debit that is created will be centrally paid and managed. The local invoice is posted to the supplier account but flagged immediately as being fully settled by an inter-company transfer. A new ’corporate’ single-line invoice is then created and subsequent management of the debt including payment is performed from a centralized location.
As companies strive to gain market share and remain competitive, it becomes increasingly important to control procurement costs. Having the ability to combine requirements across locations not only gives companies the leverage to negotiate better pricing with suppliers but also consolidates purchasing resources.
Set up multicompany consolidations between companies within or outside the Epicor database. Financial consolidations can even be done with companies on other external financial systems.
Send agreements to companies by setting up global price agreements for raw materials to ensure materials are purchased from the correct supplier at the appropriate global price.
Generate inter-company journals that automatically book expenses and/or accruals across companies for subsidiary and/or parent companies.
Multicompany automates supply and demand transactions company-wide through standard purchase order and sales order functionality. To request replenishment from a supply company, generate a purchase order. The inter-company purchase order will automatically show up as an intercompany sales order suggestion linked to the supplying company. Complete financial recognition as well as shipment notification accompanies all inter-company trading, thereby automating the Accounts Payable process associated with Inter-Company Purchase Orders.
Map accounts between companies for smooth inter-company eliminations. With frequent mergers and acquisitions, the general ledger account structure for corporate and subsidiary companies may not be the same.
Authorize each user to only view information about specific companies to which they have access.
Build virtual views of the enterprise. For example, build a workbench or a dashboard that allows a user to see all orders for a customer across all companies even though those companies may exist on separate servers and databases. You can then open sales orders in separate companies from the same workbench.
Define parent-child relationships between companies in an unlimited hierarchy. Each organization can specify a parent company, which may also have another parent company, and so on.
Deploy your companies on a single server/single database, or on multiple databases and multiple servers around the world. Many enterprises require their companies’ data management systems to be geographically dispersed on different servers and different databases to protect against communication glitches causing site downtime. A robust messaging engine ensures the transfer of information whether your companies are on a single database, multiple databases, or multiple servers. This facilitates automatic transactions between internal and external companies around the world. Epicor is flexible enough to grow with you.