Accounting and Financial Management Software
We provide finance teams with powerful, world class software, at the click of a button.
First class Cloud-based financial management software, which has evolved over 30 years
At Advanced we believe finance is the beating heart of any successful business. Our Advanced Financials software enables finance teams to focus on strategy and performance by consolidating multiple platforms in one place, reducing manual tasks, and producing real-time business insight automatically.
"Advanced Financials has revolutionised the way the finance team operate at Expect Distribution. It provides us with a clear picture of business performance and operations which is vital as we continue to grow as a business."
Kennedy Lupindula, Management Accountant, Expect Distribution
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Reporting & Dashboards
We understand and solve your key issues
We build products which are designed to solve our customers' key challenges.
- Struggling to become a more strategic finance team
In recent times, finance teams across all businesses have become a critical powerhouse in helping their organisation stay afloat and drive continued success during uncertain economic times. Many finance teams have a desire and need to drive business strategy and decision making; however, many find this challenging when they don’t have the right tools at their fingertips.
- Can’t keep up with new legislation requirements
With the recent changes of Brexit, Covid-19 regulations, GDPR and Making Tax Digital to name a few, keeping on top of legislation changes can be a real headache for finance. Often older software systems don’t support new changes and this makes complying a lot of manual effort.
- Inefficient use of finance teams time
It’s hard to stay productive when finance teams have many conflicting priorities, often have to help non finance users with processes and are often using outdated software which makes processes lengthier than they need to be.
- Too much time spent on reporting and data governance
Many finance teams can’t get compete visibility of their performance and often spend days before board meetings manipulating data within Excel to make sense of the data in their finance system.
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FEATURES & BENEFITS
Powered by MyWorkplace
Supercharge your finance function's productivity by working the way you want to.
MyWorkplace is a centralised work space that unifies the access and user experience across multiple solutions, enabling you to do more with less. MyWorkplace enables your finance team to focus on strategic initiatives rather than getting bogged down in day to day admin and assisting non-finance users.
Personalise the way you work with your own Desks
The Desks functionality in the platform enables users to build their own personalised way to use and interact with Advanced Financials, as well as partner applications and standalone applets available within the platform.
Personalise as many desks as you want to, labelled by time, theme or priority for what you require
Change and edit your Desks with the applets and functionality which is important to you, as little or as frequently as you feel is required
Work the way you want to. Desks mean that you are no longer bound to work in a certain way, you can drop and drag functionality you need, and never have to worry about features which aren’t relevant to your role.
Quickly get to heart of the functionality you need with feature Applets
Applets are the powerful functionality areas from the product which can reside on Desks. Applets enable you to quickly and easily action tasks and dive into the system without navigating the software.
Quickly dive into the functionality you need for your role by having this in a convenient area on your personalised desk
Applets available for all roles – from non-finance user, to accounts payable team leader and CFO
Save time and increase productivity by having the functionality you need at your fingertips
Finance applets available within Advanced Financials:
Reports and Dashlets
Accounts Receivable and Accounts Payable Batched Review
Accounts Receivable Cash Allocation
Financials Statement Enquiry
Aged Debt Enquiry
Update Exchange Rates
Use Task Manager to easily plan and prioritise your day
Task Manager resides on the MyWorkplace platform and streamlines the approval process by bringing all your tasks from Advanced Financials (and any other Cloud solution or partner application) all into one place.
Combined list of activities from all connected applications
Quickly approve or decline POs, invoices, timesheets and more directly from your Task Manager. Need more details? The Task Manager can also take you directly there.
Get on top of your to-do list without having to dive into the product, making it simple and efficient
View real time dashboards and reports that are important to you
Reports and ‘Dashlets’ can be added to your Desk that are specific to your role, which makes tracking performance easier than ever before.
Reports and ‘Dashlets’
Real-time report Dashlets enable you to track activity from your Desk
If you want an extra layer of detail, simply click into the Dashlet to dive straight into that report in the system
Over 1,000 customisable reports built in for you within Advanced Financials
Save time by empowering non-finance users in your organisation
Non-finance users often need help using software and getting what they need. This can be a challenge for many finance teams. MyWorkplace offers Applets that make it easier for non-finance teams to directly get the information they need, when they need it.
Empowering non-finance users
Task Manager makes it easier for managers to approve expenses, POs and more, all in one central location
Non-finance users can access the functionality they need without needing to log-in into Advanced Financials
Take a further look at the core functionality which sits at the heart of Advanced Financials.
The core of Advanced Financials is powered by robust accounting and financial management functionality. Advanced Financials enables finance teams to manage all accounting functions easily and accurately, such as: general ledger, accounts payable, credit management, bank reconciliation, and much more.
Work more efficiently across the accounts receivable and payable process
View payments, approvals, and reports—anytime, anywhere
Save time with automated accounts payable processes
Gain a real-time view of accounts payable liabilities
Streamline workflows across the accounts receivable cycle
Accelerate your cash process by shortening invoice and payment cycles
Automate manual processes and collection notices
Carry out effective end to end credit management
Automated invoice management saves time
Painless cash collections
Improve cash flow
Manage all elements of the credit management lifecycle
Easily implement dunning processes
Minimise credit risk
Automate the financial close process with bank reconciliation
Say goodbye to spreadsheets with bank reconciliation
Receive real-time balances from general ledger
Match bank transactions to invoice or bill payments
Advanced Financials is scalable to your business needs
With further robust functionality such as:
Intra company accounting
Direct Debut mandates
Accounts payable service ledger
Receivables contract billing
Reporting & Dashboards
Focus on strategy and performance easily and effectively with our powerful reporting and dashboards built into Advanced Financials
Many finance teams aim to become more strategic and guide business decisions based on data. However, when data is difficult to access and analyse, this can be a challenge. To facilitate this process, we have built a powerful reporting and dashboards engine into the core of Advanced Financials. This gives finance teams the power to lead strategy based on accurate, real-time information.
Over 1,000 customisable reports
Over 1,000 customisable reports
Gain insight into what is important to you and your specific role, whether that be a functional lead in the business, accounts payable team lead or CFO
Get a quick and simple overview by viewing a single screen, no more digging for information in the system or exporting to Excel
Drill down into the detail when you need to and gain a deeper level of analysis for your personalised report
Gain real time business insight
Gain real time business insight
Centralised reporting ensure insights are accurate and up-to-date all the time
Get rid of version control issues with Excel exports as all data held in Advanced Financials forms a single source of the truth
Always have the latest data at your fingertips - not data which is already several days out of date
Increase business agility
Increase business agility
Gain a complete view of business performance
Drill down into specific areas in granular detail to analyse and understand success or areas of poor performance
Make decisions based on real time data, not outdated spreadsheets
Plan and forecast ahead for the future
Plan and forecast ahead for the future
Plan future cash flow scenarios by using our cash flow reporting tool
Get a clear picture of trends and patterns emerging to predict your future with more accuracy
Make data-driven decisions to guide strategy based on financial performance, not a gut feeling
Documents and invoices can be managed accurately and efficiently in Advanced Financials and fed back with complete accuracy.
In finance, managing paper and PDF documentation can still be a real headache and require a substantial amount of manual effort. Document management is integrated into Advanced Financials, which simplifies the process and ensures your documents are completely accurate 100% of the time.
100% accurate inbound invoice processing automation with PDF invoicing
Reduce operating costs by processing invoices without human intervention
Increase data transparency with PDF invoices automatically processed into Advanced Financials
Achieve guaranteed 100% accuracy within the business thanks to patented AI
Streamline manual effort and paper within the business with universal invoice capture
Universal Invoice Capture
Automate all inbound invoices – including images and all digital documents
Gain higher levels of adoption through automation rules which can be tailored for each of your suppliers
Data is taken straight from the data-layer of the PDF which guarantees 100% data accuracy
Data you can trust – protect your business with invoice fraud protection
Invoice Fraud Protection
Detects suspect invoices before they even land in Advanced Financials
Issues alerts for verification to the finance team
Full audit and archives available for review at any time
Ensure all purchases are accurate, efficient and clearly recorded through the robust purchasing management functionality built into Advanced Financials.
In the purchasing process, it can often be challenging to maintain financial control and stay on top of things. Advanced Financials enables finance teams to save time and increase focus with complete visibility of vendors, orders, and all information across the purchasing cycle.
Manage the procurement process with streamlined purchasing
Stay on top of purchasing by connecting purchase orders to accounts payable, cash management and inventory
Gain a clear view of the entire purchase management process
Input purchase management workflows to improve financial control in the business
Complete purchase requisitions quickly and easily
Track performance of budget and purchase requisitions as they come through
Simple processes to complete efficient purchase requisitions
One clear view of billing and invoicing
Summarise outstanding purchase orders by general ledger account
Frequently update commitment reports to give you a real- time view
Snapshots of commitments over different periods
Easily match goods receipts to purchase orders quickly and efficiently
Store and log goods receipts in one central place in the system
Ensure cashflow is continuous
Seamlessly plan, capture and track costs across all projects in the business
The ability to budget and track costs across large organisational projects is crucial to understanding the financial impact and success of a project alongside controlling and restricting cash flow where required. Project management in Advanced Financials allows finance teams to manage projects and allocate costs so that the finance department can accurately monitor and track costs over time.
Keep on top of projects with one clear, up to date view of progress and activity
Track each project in line with budget over time
Gain a clear view of cash flow generated from a project
One clear view of timesheets for employees which can be assigned to projects where applicable
Understand the costs of salary and pay against a project to get a clear financial picture
Get a clear breakdown against a project of hours logged
Assign invoices against projects to ensure complete clarity of payments and billing
Complete control over billing for projects, ensuring budgets are always up-to-date and accurate
Track billing over time to ensure budget is adhered to
One single version of the truth for stock and inventory management
Stock and inventory management is often a top priority and a significant portion of work for finance teams. With Advanced Financials, our in-built stock and inventory management functionality enabled you to do this from one central location with ease.
Stock and Stock Take
Stock and Stock Take
Clear visibility of your inventory across the business
Track stock levels across multiple sites and locations
Get ahead of the same orders by predicting when you need to reorder
Easily work with your warehouse team and their warehouse management software via a pick list integration
Inventory SKU’s, quantities and location provide you with complete visibility of stock
Streamline the order fulfilment process
Seamlessly move products from inventory to picking
Keep track of inventory by getting notified when it reaches replenishment stage
Easily calculate Economic Order Quantity
Understanding the financial value of your assets has never been easier with Advanced Financials
A company's assets are often equally valuable and important to track as its sales and orders, meaning a finance team must measure the cost and value of both.
Manage the entire asset management lifecycle across planning, depreciation, tracking and reporting
Maximise tax savings and reduce operating costs by tracking projects before they become fixed assets
Protect your business from risk by having a clear view of the cost of assets
Streamline the expense management process for your employees by automating expenses
We know that for a lot of companies, managing expenses can be a long, manual process that is both time-consuming for employees and frustrating for finance teams. Our fully integrated expenses management tool enables businesses to automate their expenses management process, making the process of submitting, approving and reporting on expenses pain free.
Automated corporate card matching
Corporate card matching
Intelligent receipt matching pairs receipts to corporate cards
Quick and accurate reports against all corporate cards
Increases efficiencies for senior members of the business when submitting expenses
Easily manage small, every day expenses
Petty cash management
Eliminate the need for paper receipts
Get complete visibility and control over office floats
Integrated pre-approvals against petty cash helps spend things up and avoids overspend
Simply report on and manage all types of expenses
Point to point mileage increases speed of submitting mileage expenses
Automatic policy flags for finance admins
Make sure processes fit your company policy automatically
Automated policy compliance
Easily define your organisations policy at point of entry
Out of policy claims are immediately eliminated and rejected from the system
Claims submitted always match company policy, saving the finance teams time checking claims against policy
Submit, approve and report on expenses on the move
Make it easy for expenses to be managed anywhere, anytime
OCR technology enables users to photograph their receipt and submit a claim in seconds
Any changes sync across all devices – mobile, tablet and desktop
The people who succeed with us
From charities to distribution and logistics, our customer base is rich and diverse
”We were really impressed by the reporting capabilities offered by Advanced Financials. Being able to drill down into our financial data easily and efficiently is crucial for us as we continue to scale. ”
— Nick Playford, Finance Manager
"Advanced Financials has revolutionised the way our finance team operate. It provides us with a clear picture of business performance and operations which is vital as we continue to grow."
— Kennedy Lupindula, Management Accountant
We get a better understanding of you and your business to drive your onboarding experience towards success.
We build a plan of action for your journey to go-live with due dates and owners.
Working through the action plan, we execute the plan with you and get you ready to adopt Advanced Financials.
Congratulations you’re live! This is where our Customer Success program really kick in to provide you more value and make sure you are maximising your chances of reaching your goals.
- How can Advanced financial management software benefit my business?
At Advanced our customers subscribe to a service from us which stands out from the crowd. Not only do we provide first-class financial management software, which has evolved over 30 years, but we have accounting experts heading up our product development. This means we are up-to-date on the legislative and market changes that could impact your organisation. Our Customer Success Team work alongside you to make sure you are getting the best from the product and utilising every aspect of the system. We offer outstanding functionality and excellent service to ensure you continuously save time, have a clear view of cash flow and make performance your number one priority.
- What is the advantage of using Cloud-based financial management software?
One of the big advantages of moving to the Cloud is that you can access your system anytime, anywhere. This has proven to be critical for businesses facing the challenges of the pandemic. Utilising the Cloud also means all your data is stored safely and securely, so you don’t to have to worry about physical documents and data getting lost or misplaced. Cloud software is priced differently, allowing customers to pay a subscription fee rather than hefty upfront costs. It includes upgrades and licence fees every year, making it much more affordable and cost-effective.
- What is the benefit of integrated document management in financial management software?
Processing supplier invoices is extremely time-consuming and expensive. In addition, delays in invoice processing can result in reduced supplier discounts and late payment penalties. Our software automates and streamlines the processing of supplier invoices, centralising the deposit of financial documents into a secure, easily accessible repository.
- How secure is my data in Cloud-based financial management software?
Cloud Financials from Advanced is based on Amazon Web Services, which is one of the most trusted Cloud platforms globally. Full disaster recovery is provided with 24/7 system availability and 99 per cent product uptime.
- Why do I need SaaS-based financial management software?
Moving to a Software-as-a-Service (SaaS) model means you pay one simple monthly fee for your product, support, account management and services. All upgrades and enhancements are built into the product in real time and included within your monthly subscription costs. This means you won’t be hit with any scary upgrade surprises later on down the line.
- When is the best time to switch to Cloud-based financial management software?
To put it bluntly, now. This year has shown that moving to the Cloud is no longer a ‘nice to have’ but a ‘must have’ for organisations who want to remain agile and access systems remotely with ease. Moving to the Cloud also has cost benefits over time, and can be a good way to reduce on-premise software spend.
In the world of financial planning, predictive analytics can make it easier for finance teams to make timely and accurate financial decisions to help them achieve their organisational goals.