Automated Financial Controls Streamline AP and AR Management
With Financial Controls, you capture and analyze financial data in real time and from all sources, share the data with all stakeholders and act on the insights with confidence. For example, the accounts payable capability allows you to track invoices, access online historical financial information, allocate revenue across companies, and provide vendor support by company and across companies. The accounts receivable capability not only captures project-related billing automatically, it also generates non-project related (ad-hoc) invoicing, providing a complete view of all open receivables.
|Access current and past customer and vendor transactions||View and understand the financial health of your projects and your organization—in real time|
|Enable automatic inter-company balancing with predefined transactions for recurring complex journal entries||Shorten the month/year end close and minimize the cost and risk of manual data entry|
|Track invoices across the enterprise||Access a full audit trail for every transaction, allowing users to answer business questions in real time|
|Work with a single book of record for all financial transactions||Achieve greater data integrity, which enhances confidence in decision-making|
|Allocate revenue accounts across companies||Optimize credit risk|
CMiC has helped organizations of every size and scope—from national-scale enterprises to local family-owned businesses, and from general contractors to project owners—elevate to new heights how they manage their construction business.
A Better Approach to Corporate & Project Risk Management
Ensuring compliance across all levels represents a daunting challenge for large and mid-sized construction firms. As an organization, you need to ensure compliance across all standards, including regulatory compliance at the state, country and international levels (e.g., GAAP, IFRS, SOX) as well as at the divisional and project level. CMiC’s risk management capabilities are embedded throughout the platform, in several components of the system, such as vendor pre-qualification, workers compensation codes and rates tied to jobs, and cash flow management. All system modules work seamlessly to deliver an accurate and comprehensive view of corporate risk.
|Monitor and enforce compliance at the state, national and international level||Monitor key risk indicators, make adjustments and elevate accountability|
|Monitor and enforce compliance at the divisional and project level||Elevate accountability across the organization|
|Create and easily access audit trails for all transactions||Connect key performance indicators to risk indicators|
|Leverage a central, pre-qualified vendor database||Lower the risk profile of every project|