The ENFOS Finance Module is a fully integrated, web-based environmental business management solution that optimizes the full spectrum of financial processes, transactions, and performance measurement associated with environmental liability management. Financial information management is a significant driver of direct and overhead costs and the quality and timeliness of this information is a critical factor to a successful program. The ENFOS solution streamlines and automates the collaboration between the core management team and environmental suppliers allowing your people to make better decisions based on data-driven facts and trends. ENFOS seamlessly integrates with your corporate ERP system while providing the business function with the precise operational functionality and detail not available in the ERP system. For publically-traded companies, ENFOS provides supporting functionality for IAS 37, FAS 5 (SOP 96-1), FAS 143 (FIN 47), FAS 141-R, and Sarbanes-Oxley.
Integrated Financial Processes
Managing financial processes and transactions while providing real-time performance monitoring, analysis, and reporting is most effective and efficient within a single integrated platform. ENFOS provides this by integrating the core financial processes including reserve or provision management, vendor proposals, purchases or work orders, invoices, and cost recovery. And because you need to manage performance, perform detailed analysis and reporting, and use information as a strategic resource, your information management system must be able to deliver these value-added activities as well.
From a workflow and transaction management perspective, ENFOS allows each customer to configure and enforce business rules, delegations of authority, work breakdown structures, and financial parameters to meet the internal requirements. ENFOS will ensure compliance to the internal business requirements and provide automated controls to eliminate surprises such as overspending, unjustified accruals, work scope creep, and missed schedule targets. The following figure shows an example financial management process framework.
Performance ManagementENFOS provides the analytical tools, dashboards and reports required to set performance targets, measure progress, perform corrective actions to stay ahead of surprises and slippage. ENFOS incorporates both project management and portfolio management methodologies including earned value, key performance indicators, alert notifications and exception reporting, and executive dashboards. The following figure provides two examples of executive dashboard performance charts.
Solution MapThe ENFOS Environmental Business Management solution map is shown below. The main components are displayed in the first column and each component is further broken down into specific functional areas as you move from left to right in each lane. The ENFOS solution provides an integrated and uniform platform for all core financial management processes required for environmental liability management.