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What is OctoWare Accounting?
OctoWare Accounting is a stand-alone software application & also an integral
part of the (OctoWare e-Business Suite) which is a full-blown software
e-Business suite & the flagship product of OctoSoft.
OctoWare Accounting automates all the essential business processes a business
would need to; Creating/Managing/Developing Online/Offline Accounting/Financial
systems with special features of simulating Real-Life Accounting/Financial
systems.
Who needs OctoWare Accounting?
All types of businesses of all sizes from SMEs "Small to Medium Enterprises" to
very large international enterprises would essentially need and benefit from
OctoWare Accounting, however, to be more specific and focused we find the
following would be mostly interested;
- Commercial/Industrial/Constructional businesses whose business-model is based on
an integrated consistent Accounting framework. These businesses regardless of
the category of the business they run are challenged and enervated everyday by
the massive & hectic work load of manually or semi-automatically processing all
the routine processes in a grand framework of accounting that would result in
tangible revenues/accomplishments.
Why invest in OctoWare Accounting?
Investing in an integrated Accounting application gives your business full
automation of all the daily/routine business operations of managing the ever
changing Accounting/Financial data/information, which results in;
Saving time, money & increasing productivity
With all the daily/routine business operations automated including; feeding data
of bills, cash-flow, installments, credit letters & other essential accounting
elements and then extracting them in the form of concise & informative progress
reports, then your employees will be able to handle the same amount of work load
in a much less time than before. When your employees do more work in less time
because every operation requires less labor work and less time, that would
simply and directly reflect to your business as increased productivity of your
employees and an overall healthier business.
Necessity NOT trendy
In the 1990's having IT-based systems to automate Accounting was a "trendy"
thing to have, and was only available to very large enterprises who can afford
the hefty price-tag, but nowadays, it became a business "necessity"
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To efficiently manage/optimize Accounting from the very beginning of planning
and defining/processing executive tasks to monitoring the progress of Accounting
in the current status now and to empower it to develop/grow further in the
future.
- To survive the ferocious competition with competitors who run (or will run)
state-of-the-art IT-based Accounting systems that enables their businesses to be
highly competitive.
- To make more informative decisions and get better results from the business
intelligence/data mining ad hoc tools that ensures progressive development of
the overall business in terms of ROI "Return-On-Investment with continuously
updated market/business knowledge.
- To ensure flawless execution of business operations with powerful built-in ad
hoc tools like "Business Know-How Planning & Scripting" your employees will
build/develop/share/collaborate the utmost knowledge of the business know-how
and even the newly recruited employees will be able to execute operations
according to the most proven efficient business standards.
Sample Key Business Processes Enabled
-
Instant Online/Offline modes of planning, scheduling and defining the detailed
executive tasks of accounting to be processed automatically at specific
date/time.
- Real-time monitoring/tracking/auditing of each defined task and overall progress
of Financials.
- Plan/Forecast future demand using advanced built-in tools.
- Get in-depth knowledge from your database and run virtual scenarios using the
Business-intelligence/Data-Mining built-in tools.
- Customizable security privileges of access to each designated
employee/department
Business Functions/Modules Covered
-
Financial Planning & Trade Management including Assets Management, Budgeting,
Sourcing, Costing & Billing
- Cash flow Management including Expense Report Management
- Financial Analysis & Reporting
- Payroll Accounting including Remuneration and Compensation
- General Ledger Accounting including Borrow/Payback Transactions & Period End
Close
- Proposal/Contract Accounting including Expirations & Renewals
- Accounts Receivable/Payable including Returns & Credits/Debits
- Financials tracking including real-time monitoring via Web/email/SMS
technologies
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