Plex's Enterprise Management ERP System is designed for organizations with multi-site manufacturing operations that want to more efficiently manage their financial and supply chain processes with scalability, visibility and control. (6:02)
Plex Enterprise Edition is specially designed with scalability for organizations with multi-site manufacturing operations that want better visibility to more efficiently manage their financials with greater control of their supply chain processes. Scalability to support a globally distributed business, now and in the future. Real-time visibility of transactions across all of your locations, allowing you to make better-informed business decisions. And finally, Plex Enterprise delivers control to take advantage of rich, inter-entity, and tax compliance capabilities. Let’s take a look at how Plex Enterprise allows you to create a hierarchical relationship among business entities that exist in your enterprise. It’s easy to navigate around Plex using Universal Search. As you type, the relevant hits are listed and continually refine with each keystroke. Here is a hierarchical list of the entities for this enterprise. Now let’s explore the multi-entity relationships for Edge Corp by looking at a “Submit Payments” transaction. As I search for “Submit”, Universal Search completes the phrase as the only solution.
Edge Corp is the controlling or parent entity, while other regions are represented as contributing entities. This means that designated users for Edge Financial or Edge Life Sciences can submit payments for their regions. And at the same time users in Edge Corp can submit payments locally for any of the connected businesses. These relationships can be easily configured to reflect your organizational structure Using the same hierarchical relationship, Plex Enterprise makes the management of “chart of accounts” across entities easy, while allowing you to remain in control. From the chart of accounts definition screen for Edge Corp, select one or more accounts to enable actions on the Action Bar. Choose “Replicate Accounts” to create this same account, with one or more connected businesses, from the pop-up screen. It’s that simple! Let’s open a new tab for each entity to make switching back and forth easier. Plex is a native web solution and uses all typical browser tools. And of course, Plex is browser independent. Plex’s robust role-based security manages accounts at each entity level. In this case, the account structure is controlled by corporate, so the “add” button is missing showing that you do not have permission to add new accounts. In this example, you have limited permission to edit some fields, such as Account Description, but not fields controlled by corporate, such as Cost Center. Permission levels are highly customizable to fit your business needs. Now let’s take a look at “Multi-entity Journal Entries” in “General Ledger” back in the Edge Corp tab. From the main menu, you can navigate using the breadcrumbs. As a controlling entity, Edge Corp can enter a journal entry that spans across businesses. For example, a debit in Marketing Expenses in Edge Corp is balanced by two separate credits in Edge Financial Services and Edge Life Sciences.
Of course, there is a lot going on behind the scenes here, as inter-entity contra accounts are used for maintaining the accounting balance in each individual entity. This becomes evident from the “Account Transaction Report” that shows –“Due To” accounts are used to balance journal entries in Edge Financial Services and Edge Life Sciences, while “Due From” accounts are used to balance journal entries in Edge Corp. Next, we’ll move to the corporate cash management functions, which help you consolidate your payments and receipts at the controlling entity level – in this case, Edge Corp. Let’s pull a supplier, Alpha, and look at invoices submitted by the contributing business in Edge Life Sciences and by the controlling business in Edge Corp. When you want to enter an invoice date, you can select from the most common periods or enter your own. In this case, Year to Date. You can quickly select one or more invoices – across entities – and choose to prepare for payment, thereby, taking advantage of the enterprise-wide relationship with Alpha, and making the centralized bank reconciliation process a breeze. Let’s look at a customer, Paccar (pronounced Pack-R). Financial Details for Paccar are available from the context menu popup and have already been replicated across all connected businesses. You can see that this customer has an enterprise level credit limit of $750,000, of which, about $400,000 is still unused. We can go to the AR Aging Report and look at consolidated transactions for this customer and see invoices entered by various connected entities. With Plex Enterprise Edition you have scalability across collective businesses for terms and consolidated management of funds while gaining visibility across your global operations for more control and better decision-making. To learn more or see a more detailed demonstration, please contact Plex at 855-534-8012 or visit plex.com/contact.