Ellipse Financial Management
Ellipse Financial Management provides world-class comprehensive, global financial management specifically developed for asset intensive industries.
Ellipse Financial Management provides a complete, end-to- end solution for financial management to meet the needs of finance and accounting managers, IT professionals and senior executives. Ellipse Financial Management fully consolidates the diverse activities of asset-intensive organizations, promoting efficiencies at every level.
Ellipse Financial Management facilitates the following activities and business processes:
- Cost management – this function provides the end user, whether they be an Asset Manager, Maintenance Manager, Project Manager or Chief Financial Officer, cost information relevant to their role within the organization without the need to view the full Chart of Accounts. Cost management is fundamental to the integration of Ellipse modules providing balanced, uniquely identifiable transactions that are categorized and centrally stored. A single transaction database provides economic and efficient data storage and transactions that are fully auditable.
- Chart of accounts – provides flexible configuration and is tailored to meet the reporting needs of asset-intensive organizations. It supports cost reallocation processes for automation of month end reporting, the ability to integrate operational information/statistics with General Ledger functionality and support for multi-currency, budgeting and statistical analysis.
- Projects – designed to provide extensive project costing, control and reporting functionality from both a financial and project management perspective. Period, annual and life to date costs are displayed hierarchically, including graphical representation, and these hierarchies can be independent of operational reporting structures.
- Contract administration – designed to support the management and administration of works contracts, this feature provides rigorous contractual control mechanisms that improve visibility of contracts in time and financial dimensions.
- Fixed assets – provides an integrated solution with Asset and Work Management processes, supports International Accounting Standards for asset recognition, revaluation and impairment and provides flexibility in online review and reporting that assists the fixed asset accounting processes.
Through realization of these benefits, Ellipse Financial Management provides a platform for growth that can support global business requirements and sets a framework for sustainable corporate governance
Ellipse Financial Management has been designed specifically to support the special and complex operational needs of asset-intensive organizations, and delivers the following benefits:
- Improved financial and managerial reporting – providing the flexibility to report performance by business unit, organization, or cost center.
- Improved corporate performance – through the ability to quickly read, evaluate, and respond to changing business conditions with effective business strategies.
- More effective corporate governance and transparency – providing broader support of accounting standards, and improved administration of internal controls.
- Greater ability to manage the global business – enabling reporting and analysis of the organization’s operations in real-time.
- More competitive finance costs – facilitating innovative business processes, collaboration with supply chain partners and establishment of global shared-service operations.
- Rigorous control – ensuring all processes are security controlled and authorizations adhere to predefined business rules.