INVEX-Financials: Cloud-based tools for winning metal finance teams
INVEX-Financials provides metal service centers with a comprehensive and cost-effective solution for AR, AP, and GL with native metal industry features and functions.
All Company Sizes and Structures
INVEX-Financials accommodates accounting teams at metal service centers of any size and structure, including:
Single and multi-branch companies
Multiple companies each with their own branch locations
Or multiple companies located in different countries
Note: For service centers with multiple branches, INVEX can post to the GL using branch designations for later financial statements by branch.
Multi-Currency
INVEX-Financials supports multi-currency operations with the flexibility to handle:
Buying and selling in different currencies
Fixed and variable transaction currencies
Foreign exchange gains or losses
Currency translation ledger
Note: INVEX is currently live in 10 different countries around the globe, operating in different currencies and languages.
General Ledger
The INVEX GL is updated in real-time as transactions are posted in INVEX. The GL account configuration provides flexible controls over which accounts are posted to for each type of transaction. GL features include:
Journal entry management
Inter-branch sales and profit center allocation
Financial reporting tools
Budget maintenance
The journal entry functions include features for:
Normal, standard, accrual, and reversing entries
Loading journal entries via Excel or CSV upload
Attaching supporting documents to journal entries
Security options for entering and updating data
Options to specify the profit center using sub-accounts
GL drill-throughs to view source transaction information
Accounts Receivable
The AR module is used to manage the collection, review, tracking, and follow-up of outstanding receivables, features include:
Cash receipts
Payment history
Credit verification features for quotes and orders
Credit hold and release functions
Electronic interface for cash receipt uploads by customers
As quotes and orders are entered into INVEX, a comprehensive set of 18 verifications are performed before placing an order on credit hold.
Workflows and alerts to notify credit approvers of orders held
The ability to group customers together for credit purposes
An easy-to-use credit hold inquiry to view and release held orders
AR also includes a comprehensive credit information inquiry that is used to view:
Credit limit, exposure, and aging information
Open AR, credit narratives, and pre-bill information
A job credit system for companies who provide material to large projects
Accounts Payable
The accounts payable section includes voucher and invoice cost reconciliation functions that allow metal service centers to:
Post vouchers with matching
Receive invoices electronically via EDI
Enter vouchers for metal, freight, processing, and more
AP also includes:
AP inquiry
Payment history
Cash disbursements
Check printing
Outstanding check reconciliation
Attach vendor invoices to vouchers
INVEX also provides the following added tools for metal finance teams:
