IFS Applications contains hundreds of new key features that help companies decrease customizations by more than 50% on average. The business value comes through lower costs and increased flexibility, something we can help you calculate for free through a Digital Business Value Assessment (BVA). Updating is easy, seamless and cost-effective so you can maximize the value your solution delivers to your business.
Now an integrated part of IFS Applications, Group Consolidation enables you to consolidate balances from any number of companies at any number of levels, regardless of charts of accounts and reporting currencies used. The consolidation can be done in multiple corporate structures for operational and managerial purposes.
Transfer between cash accounts from one company to another, with two methods of transfer: cash transaction with an interim posting and three-way transaction with mixed payments, cash box and external payments.
Business Planning is a new module that supports the process of creating budgets, forecasts and other financial plans, both for individual companies and on a consolidated level.
Enhanced multi-company processes and functionality for managing complex financial structures
Flexibility in revenue recognition and project completion to support compliance
Periodical Capitalization and Revenue Recognition by Project
‘Event based’ Revenue Recognition Method
Enhanced Revenue Recognition for Project Inventory
Multiple Revenue Recognition Rules
Enhanced Revenue Recognition Forecasts
New tax control concept in Sales Contract with common tax calculations, validations, tax storage and clients
Improved VAT handling for EU sales to support
Delivered through new features such as
Define voucher approval rules and ensure the voucher is routed to the correct authorizers for approval
New functionality to reflect nuances in employee absence management, configure limits and capture this accurately for each individual
Enhanced visibility and insights into employee headcount
At the click of your right mouse button, you can now run multi-company analysis for employee administration, organization administration, competency matching, time management and travel expenses
Create multi-company project reporting using the new company setting for faster, more accurate time and cost reporting
New role delegation feature so supervisors can easily delegate access rights to a substitute for authorization
New Team Calendar to provide visibility of upcoming team attendance and plan effectively
Redesigned Employee & Manager Self-Service ensuring high data quality and employee involvement in reporting time & attendance, expenses and employee development.
New complete Headcount Planning and Vacancies management process, for employee and organization management. The vacancies management workflow from Headcount Plan, through Recruitment to Employment enables you to:
New Personal File window provides a central organization overview of personal data, qualifications and employments from all assignments one place with the employee record showing the relevant company related information
Aurena Bot enables employees to perform self-service tasks using simple natural language without having to navigate the application
New onboarding process
New performance and potential matrix
This is just a snapshot of the functional enhancements available today. IFS Applications contains hundreds of new key features that help customers decrease customizations by more than 50% on average. Contact your account manager for a 1-1 overview and explore all of the new features.
An IFS Applications upgrade maximizes the value your solution delivers to your business and fuels innovation, growth and efficiency. Discover what an upgrade could do for your business by participating in a Digital Business Value Assessment (BVA). Updating is easy, seamless and cost-effective so you can maximize the value your solution delivers to your business.