Medius dramatically improves cash control for CFOs through innovative dashboard
7 November 2018
Medius, the leader in cloud-based accounts payable automation, releases a new dashboard within the MediusFlow AP automation solution. This innovative feature allows CFOs and finance leaders to dramatically improve their visibility and control of an organization’s most valuable asset – cash.
In many cases, cash flow reports run the risk of being inaccurate or delayed due to inefficient accounts payable processes and the inability to extract data from the accounts payable system. With the new CFO Dashboard functionality, MediusFlow puts all of the data in the hands of the people who need it, when they need it.
Access to data is the key to true control
Up-to-date and accurate data is the only way to achieve true control of the company’s financial situation. The new functionality in MediusFlow combines big data from the cloud solution with industry benchmarks and real-time insights of the company’s performance in one comprehensive dashboard.
The CFO Dashboard provides insights on critical financial metrics in an easily digestible format, including:
- Cash flow impact from supplier invoices, for real-time and trend analysis
- Current unpaid invoice amount as a 12-month trendline or in relation to total spend per month
- Days payable outstanding (DPO), for real-time and trend analysis
- Aging bucket of overdue invoices with breakdowns of amounts ready to be paid and amounts still in workflow
“The CFO Dashboard really helps me and my fellow finance leaders gain full online visibility of the company’s current liabilities and truly understand the impact of supplier invoices on cash flow and net working capital”, says Anders Fohlin, CFO at Medius. “Plus, the benchmarks included in the dashboard allows us to identify areas for improvement or potential issues.”
Accounts Payable as data source and important business partner
The new dashboard functionality highlights the opportunity to use the accounts payable department as a data source. The data that sits in the AP automation solution has significant importance to the overall financial statements, in particular cash flow, working capital and liabilities reports.
Accounts payable data also enables insights for capturing supplier discounts, optimizing spend and improving process efficiency. As such, the accounts payable team is an important data provider and should be treated as a key business partner to the rest of the organization.
“It is time we realize that viewing the AP function as purely transactional is dated”, says Daniel Saraste, VP Product Marketing at Medius. “Rather, they are important contributors of timely and accurate data to the financial statements and ultimately support the overall company growth and success.”
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For more information, contact:
- Daniel Saraste, VP Product Marketing, email@example.com
- Fredrik André, VP Global Marketing, firstname.lastname@example.org, +46 (0)709 23 93 81
Medius is a leading global provider of accounts payable (AP) invoice automation solutions in the cloud. The MediusFlow solution automates and simplifies the entire accounts payable process, enabling an unprecedented level of truly touchless invoice processing, shortened lead times, greater control, and improved visibility of financial metrics. The company has over 2,500 customers worldwide with a high density in the retail and manufacturing sectors.
Medius was founded in 2001 and is owned by the global investment firm Marlin Equity Partners. It has over 220 employees working from offices in Sweden (HQ), the United States, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit mediusflow.com.