How can you optimize accounting interpretation with Axway’s solution?

The integration of an Axway solution as an accounting interpreter allows you to optimise the interpretation of all of a company’s accounting entries by automating certain tasks and grouping the data, which is continuously visible in real time. Discover our ERP solutions.

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Key features of an Axway accounting solution

Accounting interpretation software actively supports the financial operations of a company’s general accounting. Here is an overview of the many data interpretation optimization actions that can be performed with an integrated accounting interpretation tool.

Integration of financial data

This functionality is intended to facilitate the integration of financial data from the company’s general accounting, such as expenses, revenues, management of accounts receivable and profit and loss accounts, assets and liabilities, as well as the integration of means of payment, which allows for transfers and direct debits. Management software allows you to insert data and figures. They are also used to modify the information according to the specific needs of the company’s sector of activity.

Rules management

The rules of the accounting interpretation solutions are centralized on the same accounting software. It is equipped with an accounting integrator that acts as a rule engine. The parameterization of the applications is done with the help of various programming language tools such as Cobol. This allows the automatic creation of working documents, including dashboards. The “Composer” application offers the possibility of creating rules that vary according to the specific needs of the trading company and the standards in force, which differ from country to country.

The treatment of discharges

Some data are sometimes rejected by the computerized accounting interpretation system. Accounting tools such as Interplay can process the information automatically. The Interplay interface handles data that is not accepted by the system and can be entered by hand. This software solution also enables the recycling of business data that circulates through applications and ensures the veracity and traceability of all financial transactions.

Taking charge of an audit

Accounting interpretation tool software solutions have the ability to track in detail all financial flows that have been generated in the computer system. Applications such as “Datastore” provide reliable and secure audit and reconciliation trails. These are used to verify and validate the evolution of the data transmitted to the financial management system.

Exception handling

The integration of an accounting interpretation system offers the possibility of making updates according to the evolution of financial transactions. This allows adjustments to be made to provisions and service charges at the appropriate time, to follow up on events that have been rejected by the automatic functions.

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Accounting integration with Axway AI Suite

Among the most comprehensive solutions currently available on the market is the Axway AI Suite. This application has the advantage of meeting many ERP connectivity needs and various tools (SAP, Oracle, Peoplesoft, JD Edwards, Studio, etc.). This software ensures complete visibility of detailed operations in real time to save time and reduce costs. The Axway AI Suite software solution provides the following benefits:

the ease of transmission of accounting and financial information;
Simplified merger of acquisitions through new ERP products;
creation of general ledger entries with information transfer and risk management;
Centralized management of chart of accounts life cycles and rules of conduct;
automation of processes by delegating modifications to a ;
centralization of all accounting rules in one place;
rapid adaptation to the evolution of the sector’s activities and to the regulations in force thanks to the possibility of modifying or adding rules as needed;
meeting the requirements of international accounting standards (IFRS, GAAP) by guaranteeing the consistency of information from a single data source;
Accessibility to automatic generation of audit trails for better transparency;
the acceleration of financial closing procedures (“fast close”) thanks to the performance of the system;
Support for multiple formats and currencies to facilitate international accounting operations;
Access to automatic documentation to increase readability and simplify the processing of accounting processes.

Using an Axway solution increases the visibility and management of data integrated into the various accounting modules. The following is an overview of the targeted improvements:

Increasing performance by monitoring every step of the business transformation process;
optimization of visible actions in real time for a better correlation between accounting elements;
Identification of discrepancies through the control of transformation processes and the recording of data in the financial system;
Increased immediate visibility with the use of advanced features to perform regular monitoring and get a detailed view of data production;
improving the accounting operations carried out, by comparing the evolution of performance to shorten the time required to close the accounts;
anticipating the potential impact of exception handling on maturity dates.