Automated cost accounting – efficient transparency

Employee costs may arise anytime, when the completion of operative tasks require travelling, car usage, accommodation or any activity that involves costs which should be paid on location by the performer of the task. Accounting of such costs is required, and the payments shall be done in line with company policies and the applicable laws. Requesting, administration and approval of costs is a huge workload if done manually, and it does not create any value by itself. At the same time, all information related to such costs – eg. aim, result, prices, etc. – shall remain transparent, plan – able and sustainable. Therefore, unnecessary costs can be avoided, since it becomes clear which costs brought the desirable results ( eg. in case of sales and marketing costs) and cash flow planning becomes easier too.

 

what is xflower cost accounting?

xFLOWer Cloud cost accounting module enables comprehensive settlement process management including requesting, approval, payment and warrant management alike. The resulting documents are archived automatically, providing case – based traceability. The module supports multi – level approval cycles, so that complex approval processes from various organizational levels are manageable.

 

Why choose xflower cost accounting?

xFLOWer is a robust and mature cloud based workflow and business process management solution with DMS functionality. Its development started more than 18 years ago, and it evolved through the years based on international business experience and the actual needs of business leaders throughout Europe. Contrary to other workflow systems, xFLOWer is not a functional, isolated system, but a much more sophisticated, yet easy to use cost accounting tool with comprehensive workflow capabilities.

Search information is also formed during the processes the documents are involved in. This way, much more complex search criteria can be defined compared to a simple tree structure. That is because xFLOWer uses tagging for searches and as many tags can be attached to a document - manually or automatically - as needed. Therefore it will be possible to find documents based on such sets of criteria instead of its name only. 

 

Cost accounting framework

The xFLOWer cost accounting module is part of the xFLOWer process management framework, including the most required business processes and data sets predefined. Although, all these predefined values can be tailored and expanded as needed during the implementation period or anytime later!

xFLOWer cost accounting is a cloud based solution, however it "only" ensures a framework to create a business environment for your company - one in which you don't have to change your systems and operation frequently. Check out the xFLOWer product range - you can access all these features anytime: if you need any of it now, it is available, if it will be needed later, implementation into your existing xFLOWer instance will be flawless.

 

Cost accounting processes

In the xFLOWer cost accounting module, everything is controlled by business processes to which documents are attached. The processes are guiding all colleagues step by step through the administration tasks, so it is not possible to omit any required step of cost accounting processes.

Cost accounting processes do not end at approving costs. The module manages the end to end operative processes required for requesting, approving, paying and warranting costs. Also, archiving of all documents that were used during the processes is resolved, and usually done automatically. By using further modules, business processes throughout the whole organization can be managed:

Of course, you are free to decide what processes you use, however, we will suggest the processes to start with. All processes can be tailored to your exact needs during the implementation period. By default we suggest using the cost requesting and approval processes, parameterized to fit your exact needs.

 

Cost accounting – employee data sets

xFLOWer cost accounting module includes employee data sets by default, however, you are free to decide what further types of data you want to store and manage. The possibilities are endless: store unique data types such as foot size, language knowledge, political relationships or - really whatever you may imagine!

Further data sets

In case you decide to manage further process types in the xFLOWer framework, it is really up to you which data sets you use. Define customer, product, service or any other data sets as you need.
Related to your specialties, information linked to your product or service can be managed at the level of individual cases, or you may create different processes for different product or service types. 
In case you have existing data sets in different systems, it is possible to establish interface connections to these systems. Hence, there's no need to re-enter existing data into xFLOWer during implementation. 
In case you need different data sets, not only a customer database, it is also possible with  xFLOWer. Create data sets for HR, real estate, receivables, accessories, partners or anything else. Business processes will always be attached to the appropriate data set.

 

how xflower manages cost accounting processes

The following example describes a travel cost management in sales.
 

  1. Incoming request – A sales colleague requests travel costs to pay a visit at a customer. He defines the request with exact costs, aims and enters the request.
     
  2. Alternatively, the sales person can use predefined request templates – for example travel, conference attendance, promotion, etc. The module identifies whether one or multiple round approval is needed and forwards the request to approvers.
     
  3. in case of multiple round approval the module controls if all approval rounds were completed or not.
     
  4. Approval or denial – the module records returning approval or denial and informs the requester.
     
  5. In case of an approved request, the module prepares and records the required documents and all other receipts as defined by legislation.
     
  6. The module archives all requests to enable retrieval later.

 

Ready to use solution

Even the best system can’t provide a complete solution if operational processes are designated erroneously. For this reason, ready – made processes based on international best practices are integrated into all xFLOWer modules, which ensure professional organization of work from the first moment of usage. This unique feature enables business leaders to redefine operational processes solely by appointing coworkers for certain tasks – the rest is done by xFLOWer.

xFLOWer Cloud request management module contains all the above features and enables the definition, management and automation of all operational processes regardless the number of processes, users of documents involved. By automating certain tasks, resources are freed within the organization, hence saving costs, time and energy for your enterprise. Therefore the company is enabled to focus on sales, clients and the constant development of its core competence to retain its competitive edge.