Yourcegid Finance Y2: the financial management tool for CFOs
The CFO - Chief Financial Officer - needs a well thought-out financial management tool. Cegid, France's leading provider of business management solutions, has created Yourcegid Finance Y2: a tool that is both sophisticated and fluid. Read all our reviews of finance and accounting software.
The challenges facing the CFO
A central role
The CFO is at the heart of business management. His or her guiding principle is to maximise the company's performance using a methodical approach. This requires an analytical understanding of financial flows, including accounting. Consideration of cost and profit items enables him to draw up a precise strategic diagnosis, identifying malfunctions and obstacles to the structure's profitability. They are responsible for auditing and risk management.
Guarantor of the legal framework
The CFO must also ensure compliance with the legal framework. The legal framework is evolving: new legislation is being introduced, such as the LME (Loi de Modernisation de l'Economie), which imposes obligations on companies. Some management tools provide an up-to-date framework. This is the case with Yourcegid Finance Y2. As a SaaS (Software as a Service) solution, the publisher can update it remotely. The solution includes IAS (International Accounting Standards) and IFRS (International Financial Reporting Standards) accounting standards, and applies CRC regulation 2002-10 on asset depreciation and amortisation. The CFO is thus able to monitor and meet the company's legal obligations. They are also able to provide the supporting documents required by the authorities, such as the balance sheet.
The need for a global vision
The CFO needs decision-making tools. However, indicators, which are not necessarily enlightening and which can quickly become voluminous, can pollute them. It is by comparing and cross-checking data that a relevant underlying trend emerges. The management tool must therefore provide a global vision. With Yourcegid Finance Y2, the CFO has a veritable digital office that brings together accounting, tax and financial information : the dashboards act like an accounting assistant.
The importance of a shared tool
At the heart of the company's management challenges, the CFO 's tool has every interest in being linked or connected to other departments via reliable information systems. The challenge is to share the same data between the accounting department, general management, management control, the finance department and the human resources department. With an online solution, synchronisation encourages collaboration between all the players involved. Misunderstandings are avoided, and the tool becomes a vector for a direct culture within the company.
Management
Managing uncertainty
Steering involves understanding the past, in order to gauge the present and predict the future. The CFO therefore operates in an environment of uncertainties. When it comes to forecasting, planning and project management, he or she needs to be able to rely on tangible data, a well-founded approach and, of course, solid management training.
Day-to-day management
Yourcegid Finance Y2 offers a range of decision-making tools: budget forecasting, banking workflow, etc. Precise metrics enable rolling forecasts to be revised on an ongoing basis. Spreadsheets are linked dynamically, and agile reporting is generated.
Controlling expenditure
Purchase requisitions are formalised within a powerful engine, and alerts are automatically sent to the "validators". Expenditure is thus controlled upstream and integrated directly into the budget. This optimises the purchasing and overheads processes.
Cross-functional management
Fixed asset management is another key aspect of the CFO's financial analysis. Analytical accounting, with the processing of assets and investments, is advanced. Whether it's lease financing, long-term leasing, depreciation or subsidies, everything is provided for in the tool so that it can be considered in the light of its respective effects.
Taking care of your cash flow
It's been said that "cash flow is the lifeblood of any business". Because no matter how exponential your sales and how promising your prospects, if you don't have enough cash to pay your expenses, your business will fail in the short term. Working capital requirements are therefore a key indicator. With Yourcegid Finance Y2, CFOs can calculate their DPO (Days Payable Outstanding), the average supplier payment period, and their DSO (Days Sales Outstanding), the equivalent on the customer side. As a result, budgetary management of outstanding customer and supplier balances becomes much more refined.
The financial management tool
Turnkey
Software like Yourcegid Finance Y2 brings BI (Business Intelligence) to management. Relevant indicators are highlighted, saving the CFO time in his decision-making. The solution is packaged and turnkey. No specific development is required. It's a real toolbox, providing companies with a response to their business needs.
Modular
Software published by Cegid is modular. They interface with other business solutions such as payroll, invoicing, production, etc. Gateway connections are made with the company's other tools, whether these come from Cegid or third-party publishers. Each module is designed to integrate with the company's overall ERP (Enterprise Resource Planning) system.
Mobile
SaaS mode offers the advantage of unlimited mobility. Cegid talks about the MoBiClo concept: Mobility, Business Intelligence, Cloud. For the CFO, as for operational staff and management, the ability to access the tool while on the move, in the context of an off-site meeting, or to work in disconnected mode, is invaluable.
The role of the CFO is crucial to the company's sound financial management. And so is the tool they use. From the point of view of financial analysis, as well as operational practicality, the steering solution is a powerful lever for performance management.
Article translated from French