Always ahead with Fi/Co
Upvance’s Finance module deals with overall financial reporting and accounting, while Controlling focuses more narrowly on planning and monitoring costs.
pvance’s Finance and Controlling (FICO) offers a comprehensive suite of functionalities that streamline financial management and enhance operational efficiency. Key features include robust financial accounting (FI) capabilities, such as general ledger, accounts receivable, accounts payable, and asset accounting, ensuring accurate and real-time financial reporting. The controlling (CO) module supports internal management processes with cost center accounting, profit center accounting, enabling precise cost tracking.
The seamless integration with Purchasing, Project Management, personal expense and timesheet recording, real-time data processing, and advanced analytics empower your organization to make informed financial decisions, optimize resource allocation, and drive more strategically your operations.
Upvance supports different accounting principles, including US GAAP and IFRS, by offering flexible financial reporting and accounting functionalities. It allows businesses to manage multiple sets of books simultaneously, enabling parallel accounting and compliance with various standards. Features such as customizable financial statements, automated postings, and comprehensive reporting tools ensure accurate and transparent financial management. Upvance also facilitates the consolidation of financial data across different entities, ensuring consistency and compliance with both US GAAP and IFRS. This capability helps your organization to meet regulatory requirements and maintain robust financial control.
The platform Upvance will also support your company with revenue recognition and expense accruals through its advanced financial management capabilities. It allows for accurate and timely recognition of revenue in compliance with various accounting standards. The system automates the process of recognizing revenue based on performance obligations, contract terms, and delivery milestones. Additionally, it facilitates expense accruals by enabling the timely recording of incurred expenses, even if invoices have not yet been received. This ensures that financial statements reflect a true and fair view of your company’s financial position, supporting better decision-making and regulatory compliance.
Use Cases
Smarter Project Management
The all-in-all-tool that makes your day: Upvance provides efficient project management capabilities for flexible planning, budgeting and resource allocation, with a change log and historical tracking capabilities, as well as…
Purchasing intuitively done
Purchases are getting rapid and fun: Purchasing in Upvance provides an intuitive and user-friendly experience for managing the acquisition of non-GxP and non-stock goods and services, ensuring the key purchasing process steps, from creating…
Finance & Controlling re-thought
Never again a cent slipped through your fingers: Upvance’s Finance module deals with overall financial reporting and accounting, while Controlling focuses more narrowly on planning and monitoring costs. Upvance’s Finance and Controlling (FICO) offers…
My Expenses & My Timesheet
With Upvance’s powerful expense recording app, My Expenses, seamlessly integrated into your MyHome screen you have real-time tracking, intuitive categorization, and comprehensive reporting, ensuring accuracy and transparency for you and for your company.
Knowing how your Biotech gets growing:
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