Broad regulatory compliance, support for a number revenue recognition methods (a must for PSA organizations), billing and fixed assets, integrated BPM and business rules for tight financial controls, and a log of changes to financial transactions (where permitted), all accompanied by a tightly integrated user-level customizable financial reporting tool and a BI utility.
Priority's compliance capabilities are based on the quantitative characteristics of any solid financial statement -- clarity, relevance, reliability and comparability -- making it a key tool for companies aspiring to financial regulatory compliance and control.
Priority supports a variety of billing methods and functions, including project-based billing, recurring revenues (services, rentals, etc.), pre-defined payment terms, delivery-based billing and more, all of which are tightly linked to our revenue recognition methods.
These preconfigured, field-proven capabilities make invoicing and cash flow management a matter of automated control, rather than a labor intensive, time consuming and error-prone manual process.
Priority's fixed asset capabilities are seamlessly integrated with its purchase management module and the General Ledger (GL), providing complete lifecycle tracking and depreciation of assets, from purchase to retirement.
Priority's cash management solution provides for complete, detailed monitoring of Order-to-Cash and Purchase-to-Pay processes, with built-in BPM enabling close tracking of Days Sales Outstanding (DSO), aging and cash-flow projections.
Manage and control costs using multi-dimensional profit and cost centers.
Budget versions, budget periods, budget trees, and BPM are tightly integrated into the organization's business activities from the purchase requisition through delivery, including interdepartmental service charges and inventory transactions.
Financial Statement Generator
This generator is used to customize financial statements (e.g., balance sheets, profit and loss reports, trial balances, and supporting schedules).