Financial Automation
If you're in charge of delivering products or services to the digital market at a rapid pace, you need us to extend your Customer 360 from Opportunity to Renewal. That's why LotusBudh is reacting and growing at a breakneck speed to support customers' fast and agile growth.
With LotusBudh Financial Transformation Consulting, we would build cloud accounting and financial reporting, through which you may streamline customer billing, unravel revenue recognition knots, and better manage to overspend. Metrics such as utilisation, margin, revenue, productivity, and more should be targeted, monitored, and improved in core services and finance. Deliver excellent service, react promptly to project questions, and offer real-time updates to consumers and partners online.
The issue is more important than technology. Customers demand faster, more connected, and trustworthy digital experiences with high ROI and scalable agility in every industry and area of the globe.
Furthermore, the post-pandemic shift to mainly remote labour has created new obstacles for you and your customers in learning how to thrive at breakneck speed.
To automate and install a new system from Accounting Management that can handle bids, invoices and payments smoothly. This system will need to be tightly linked with CRM, Digital Payments, Digital Document Signing, General Book Keeping, Invoice and Quote Management and Inventory Management.
The following are some of the things that a Financial Transformation may help with:
- Seamlessly, deals are negotiated, sales orders are raised, and bills are produced.
- Prepare VAT invoices, calculate your tax owed and electronically submit your tax returns.
- Accept online payments to keep the cash flow flowing. Send estimates, convert to VAT invoices, and get paid on time using an online payment system.
- Know where your money is going and maintain track of your payables, from expenses to vendor invoices,
- Take notice of the goods and services you offer and quickly integrate them into your deals.
- Keep track of project time and bill your customers with simplicity.
- 50+ business KPI reports helping you to get a better knowledge of your company's health. Profit and loss statements, inventory summary reports, and VAT reports are just a few of the reports you'll need to keep your company operating efficiently.
Financial Automation allows businesses to standardise and automate the whole accounting process, from quotation through revenue realisation. Financial Automation helps you link HSN/SAC codes with your products and services and record the VATs for contacts at the time of creation. The next time you create a transaction, the relevant information is auto-populated. File your VAT returns with confidence and easily accessible data. Accounting software will automatically compute your VAT obligation and allow you to submit transactions to the VAT site and file returns quickly. We will adopt the following procedures for improving the Sales & Financial process inside the company
Features to expect post implementation of technology
- Use our online payment options to create personalised invoices and be paid quicker.
- In a single click, you can turn quotes into bills that look great.
- Providing portal access to your clients would enable them to keep track of all their transactions in one location.
- Keep track of your spending by uploading your expenditure receipts.
- Track your vendor payments by creating invoices.
- Easily retrieve, classify, and reconcile your bank transactions.
- Make sure you're being paid for all of the time you spend working on a project by using timesheets.
- Have an eye on inventory levels to spot hot sellers and keep enough of them on hand.
- Before delivering products to consumers, send sales orders and confirm each one.
- Use Purchase Orders to clearly communicate your needs to your suppliers.
- Make payments, submit VAT returns, and get an overview of your VAT obligation all in one place.
- Accept online payments from clients using your chosen payment gateway in an easy, quick, and secure manner.
- Set up reports and receive the data you need to run your company more efficiently in real time.
- Automate company processes to save time and concentrate on business growth.
- Simplify and centralise the storage of all your papers, and link them to certain transactions.
- Using our vendor portal, you can enable your suppliers to take control of their interactions with you.
- Use the mobile app for iOS, Android, and Windows to conduct your accounting on the move.
Financial Metrics you should keep a track
- Earnings before interest and taxes (EBIT)
- Economic value added (EVA)
- Berry ratio
- Contribution margin
- Liquidity ratio
- Interest cover
- Days in accounts receivables
- Net cash flow
- Gross profit margin
- Transactions error rate
- Vendor Expenses
- Profit and Loss Report
- Recent Payments
- Current Accounts Receivable and Accounts Payable
- Income and Expenses (Last 12 Months)
- Accounts Payable Turnover
- Accounts Receivable Turnover
- Net Profit Margin
- Gross Profit Margin
