When a century old company wished to remain progressive by employing a Fixed Asset System, Ephlux held out the helping hand and helped them cross that road with a JD Edwards solution for Fixed Asset Depreciation.
A company up and running for a 100 successful years, still has the aim to be progressive in their approach – making them the second largest company in the world in this field. This organization has been promising quality assurance, remarkable customer service, commendable logistics, inventory management and innovative in nature, with their new product developments. Working to provide only the high-quality products, backed with a powerful commitment to help the retail partners succeed as well, this company has always delivered as promised.
With a storehouse of Fixed Assets, the company required a Fixed Asset Accounting Software – a Depreciation Tool in particular. Fixed assets, as essential business tools, are important to safeguard and maintain, but many managers are still using spreadsheets to track this critical information. Smart managers are beginning to look specifically at fixed asset systems, and so did this company as well.
The company required a custom automation tool that imports specific depreciation information from an external file and imports it with valuable information like the life months, initial term, depreciation method, compute direction and depreciation start date based on the given asset number, ledger type and account type.
The Helping Hand:
Ephlux stirred the solution by developing a custom UBE R55*, with custom processing options for customized importing from the external file. This software tool helped improve efficiency and financial strength by maintaining the existing assets while avoiding unnecessary equipment purchases and upgrades. This tool also aided the company in precisely calculating taxes with a frequently upgraded program that enables maximizing of the tax savings while automatically staying up-to-date changes to tax laws.
By integrating with the general ledger, the software allowed information to be easily combined and compared with general accounting records. This promoted a seamless and consistent view of the company’s financial situation and the status of its assets.
Ephlux was able to fulfill the needs of the company and ,yet again, had a satisfied customer with an innovative and helpful solution.