Mid Market Financials/ERP
The concept behind Enterprise Resource Planning (ERP) is a single software program running off a single database that allows a wide range of company divisions to easily communicate with each other. Rather than support individual standalone software for each division, the ERP software program is divided into software modules that are linked together in order to facilitate the sharing of information. In this way, each division can “see” what is transpiring elsewhere in the company. The result is a streamlined flow of information that can greatly improve operational efficiency.
IDT has partnered with Microsoft and offers Microsoft Dynamics series of products to help our customers with improving their overall operational efficiency. IDT provides exceptional value and services centered around:
Microsoft Dynamics™ GP
For small to mid-sized companies, Microsoft Dynamics™ GP provides access to decision-driving information with powerful financial and process applications that are easy to use and personalize. In addition, this package delivers an integrated set of proven global business applications and custom services that integrate business processes, no matter how complex. Included are:
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• Financials
• Distribution and project accounting
• Human resources and payroll
• Fixed assets
• Customer Relationship Management
• Online cash receipts processing
• Automated customer refunds
• Easy administration of cash and expense deferrals
• Customer and vendor balance consolidation and scheduled payment
• Advanced financial inquiries
Contact IDT to learn more about Mid Market offerings from IDT and Microsoft Dynamics!
Imaging & Process Management (IPM) Accounts Payable Solution and IDT
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Streamline the processing and approval of vendor invoices and associated transactions in a cost-effective way with IDT’s IPM! From retail, manufacturing and higher education firms, to health care and financial services sectors, IDT’s IPM offers a complete payables solution that includes software, workflow processes and implementation, for a set price.
Benefits
Increase productivity and data integrity
Reduce time-consuming dual data entry
Enhance levels of customer and vendor service
Gain significant processing efficiencies
IDT's IPM minimizes the cost and maximizes the ease of implementing a payables solution in three key areas:
- Capture, storage and retrieval of accounts payable data, documents and reports
- Automation of critical business processes to drive efficiency
- Collaboration between internal and external resources
Components
Document and Data Capture - a robust and scalable front-end capture solution
- Content Management - manages all business transaction information, including scanned documents, faxes, HTML, XML, electronic forms,
EDI, e-mail and line-of-business data and reports
- Workflow - sophisticated workflow that enables payables organizations to automate common accounting processes - such as data entry and
purchase order matching - and deliver the appropriate transaction information to internal groups and external vendors and customers
- Application Link - allows companies to extend their existing line-of-business applications through complementary modules to ERP systems
- Supplier Portal - an optional add-on component that helps companies increase the efficiency of the Accounts Payable staff by delivering
data and documents related to problem transactions directly to vendors, allowing these vendors to help resolve transaction issues in real time
Contact IDT to learn more about Accounts Payable integrations for:
| SAP | B.A.A.N. |
| Oracle Financials | PeopleSoft |
| J.D. Edwards OneWorld | Microsoft Dynamics GP |
| J.D. Edwards World | and others! |
Check Imaging Systems - Take advantage of improvements and efficiencies made possible by
Check 21.
The Check Clearing for the 21st Century Act (Check 21) came into effect in October of 2004 and made the possibility of check truncation
and electronic check exchange a reality. The creation and authorization of a new negotiable instrument called a "substitute check"
is the key in a new, more efficient and less costly way of processing payments. Substitute checks, also known as Image Replacement
Documents (IRDs), are the legal equivalent of original checks and include all the information contained on the original checks. They
permit banks to truncate original checks, to process check information electronically, and to deliver substitute checks to banks that
want to continue receiving paper checks.
With the changing landscape of payment processing, just about any type or size business that processes checks can now seize the opportunity
of electronic check presentment to improve customer service, reduce fraud, accelerate cash flow, lower costs and increase efficiency of
check processing. The stage is now set for checks to clear-and money to be moved - in a matter of hours instead of multiple days.
Benefits of a check imaging solution:
- Increased operational efficiencies due to elimination of steps like physical mailing/transport time, and manual data entry
- Faster cash flow
- Better customer service
- Earlier fraud detection
- Reduced fees for things like couriers, express mail, etc
- Lowered risk of human error due to less handling
- Greater security and accuracy
A check imaging system integrates check scanners, software and services to create a total solution that gives virtually every business
greater control over the time and cost of processing checks.
As Figure 1 from Kodak illustrates above, check imaging solutions eliminate time-consuming steps of the payment process. First, the latest
check scanners with MICR readers are used to scan checks upon their receipt. Once image quality is ensured, the original checks can be
truncated from the process. All of the data from the original check along with the image are then sent electronically to the proper bank
or financial institution for processing and settlement. Because checks no longer have to be physically transported from the point of receipt
through a manual workflow process, money is able to be moved the same day, which greatly speeds cash flow from days to hours. And that's
business critical - no matter what business you're in.
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