TimeXtender, the world’s biggest provider of data warehouse automation (DWA) software for the Microsoft® SQL Server®, today announced the release of TX Financials 16.01 (TXF). The new TXF product includes two new, major product revisions.
The first new feature is automated user setup.
In large organizations, it is cumbersome to define a budgeting process involving a large number of users. This volume of users typically requires the assigning of users to profit and cost centers, and to create an approval hierarchy for the budget submissions. With TXF, this problem now becomes fully automated.
Using TimeXtender’s data warehouse automation (DWA) backend, TXF users can access relevant information of organizational hierarchies and save the information within TXF. This process will then be automatically controlled by the user at organizational setup.
Furthermore, users, groups, submitters, and reviewers can use this across any dimension such as products or customers, rather than just organizational hierarchies. This new feature makes the process significantly easier, faster, and efficient to define processes within a budget cycle.
The second new feature is supporting documents.
With supporting documents, it is possible for end-users to utilize ad-hoc Excel spreadsheets and to simulate budgets or forecasts. Users can then easily link the end result of the work to a TXF submission. This means that TXF easily enables a bridge between Excel and the rigid structure of finance.
Traditionally, it has been necessary to create advanced models and calculations to have end-users think in non-financial terms, and through these steps they can create another definition of how users need to think for items such as volume or pricing. However, with TXF’s supporting documents, end-users can now define the ad-hoc analysis and calculations themselves, or an administrative user can create detailed supporting documents for users to work with and have as pre-defined links. This means that for each submission in the budget process, the specific underlying version of the supporting document is submitted, along with the financial numbers linked to it, for full version control with full email notifications as well.
In addition, this also means that TXF will provide an integration interface when trying to combine ERP systems from an acquired company’s system or even from a production or marketing system. By using TXF, it is no longer a mandate that major ERP backend mapping occur first, as the finance user can apply their knowledge to produce the financial outcome.
Additional information can be found at TX Financials, including product details, case studies, product demos and trials, and background material. Or, feel free to contact TimeXtender Vice President Jesper Vork, TXF product manager, via email at firstname.lastname@example.org or by phone at 1-877-572-3477.