Financial Accounting Suite Benefits

General Ledger
Enhancing the performance of your credit union depends on the efficient management of financial information – your general ledger. You need to monitor, control and analyze all business functions.

The General Ledger module maintains a complete financial information database including balances, averages, budgets and processed journal entries. The General Ledger module is designed not only for comprehensive general ledger accounting and control, but also for management reporting. It includes a library of report templates such as balance sheet, income statement, rate, yield, budget and variance reports. The General Ledger module’s Report Designer allows you to create customized reports that can be scheduled and distributed via e-mail or exported to other applications.

The General Ledger module automates general ledger processing by providing scheduled journal entries and report generation, integration with the Accounts Payable and Fixed Assets modules, journal entry batch templates, and much more. In addition, flexibility and open architecture allow the General Ledger module to seamlessly import journal entries from external applications such as loan, deposit, accounts payable, fixed assets, investments and budget data from asset liability management and budgeting applications.

Accounts Payable
The Financial Accounting Suite’s Accounts Payable module automates bill payment and invoice management. The Accounts Payable module is designed to handle multiple organizations and the independent processing of each business unit, allowing the decentralization of payment processing yet retaining management control. Paperwork is easier, too. You can print checks from a laser printer and designate a separate device for reports. The Accounts Payable module accommodates manual or voided checks with adjustments to vendor history, invoice history and the check register. You also can make payments through the Automated Clearing House (ACH) Interface.

The Accounts Payable module allows for cash or accrual-based accounting and creates journal entries that can be interfaced to your general ledger. Recurring payables, such as rent or lease payments, can be automated, and the Accounts Payable module will forecast cash requirements by vendor and due date. Complete vendor information including open invoices, discounts, net due, a history of purchases and payments by month for the last year and a history in summary for the past five years is maintained on the Accounts Payable module.

Fixed Assets
The Financial Accounting Suite’s Fixed Assets module enables financial managers to analyze and control the fixed assets portfolio for advantageous tax planning, resource management and in-house control.

This user-friendly software provides versatile reporting and FASB compliance projections.
The Fixed Assets module provides 38 different methods of depreciation. It also maintains five independent sets of financial information on each asset: book; federal and state tax; ACE; and AMT. Forecasting and budgeting capabilities include future years’ depreciation forecasts to help determine deferred liability and budgets.

In addition to financial information, you can store the manufacturer, model, serial number, service history, maintenance and leasing information for each asset. The Fixed Assets module also handles prepaid accrual accounting, automatically generating entries for your general ledger.

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ProfitVision™ Benefits

Your business experts are in control – ProfitVision takes set-up and maintenance out of the IT department and returns it to your business users – they are the drivers of the profitability model. They decide which data is included, which calculation engines are used to calculate profit, and which formulas are applied to generate results. Your business users also decide how deep to go. Start by looking at products, branches and business units. Analyze officer portfolios or service delivery channels for a more complete view. Move to the more granular levels of accounts, customers and relationships as you see fit.

A ready-to-deploy solution you can adapt to your unique needs – Deploy ProfitVision “as is” and start improving profitability in as little as 30 days. Or easily modify the software’s definitions, rules and scoring thresholds to more closely reflect your business model. How much you customize is up to you. ProfitVision is built on a standard architecture with many open points of entry. You can readily integrate custom or third-party utilities, tables and analysis tools – adding value to the investments you’ve already made in other systems and applications.

Results you can believe in and act upon – Profit analyses are trustworthy because they’re performed on data imported from multiple sources across your enterprise into a central database reconciled directly against your general ledger. Results can be used to initiate immediate action because they’re credible, easy to understand, easy to access and can be predefined for functional entities within the organization.

Information you can use to drive organizational change – Value indicators help you encourage profit-conscious behavior throughout your organization. Marketing, sales and service departments use these results to develop treatment strategies to attract and retain desirable members, as well as pricing and promotional strategies to move less-profitable customers to higher value segments. Senior managers can use ProfitVision to measure execution against corporate goals and ensure that pay-for-performance programs reward not just volume, but volume of profitable members, officers and branches.

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The Asset Liability Management and Financial Planning System Benefits

Financial Guidance Tool
The Open Solutions’ Asset Liability Management (ALM) System can give you accuracy and control while minimizing complexity. This tool can help automate your portfolio management and reporting, and plan for future financial trends.

Now you can improve your institutions’ performance with interactive planning. Open Solutions ALM is a full-featured financial guidance tool that utilizes advanced modeling and information management methods to meet the challenges of your competitive environment. As a complete planning and budgeting tool, the system features:

1. Annual Budgeting
2. Capital Planning
3. Liquidity Management
4. Board Reporting

Rate risk analysis is an integral part of the planning function. Being able to simulate the impact of potential rate changes on your balance sheet, will help you analyze your market value and identify balance sheet risk with greater precision. Open Solutions ALM includes the following sophisticated rate risk options in one program:

1. Risk Limit Analysis
2. Gap Analysis
3. Repricing Risk Analysis
4. Multiple Rate Scenarios
5. Margin Rate Shocks

This tool is like a compass that points the way in a continually changing landscape. You can get greater participation, better communication and increased creativity from your entire team. And, as conditions change, you can adjust quickly and effectively.

Interactive Simulations
Open Solutions’ Asset Liability Management and Financial Planning System uses a relationship modeling engine to simulate the impact of decisions. You can copy and revise models to rapidly test “what if” scenarios and determine alternate rate and growth projections. The system provides a flexible set of modeling, forecasting and measurement tools, and compares budget projections to actual results. Even with complex calculations, you get the answers you need when you need them: right now.

Presentation Technology
Open Solutions ALM replaces the excessive printouts that characterize other systems with graphics that bring clarity and deeper understanding to complex issues. This clarity
provides the critical strategic view from which potential problems, opportunities and solutions are more easily identified and addressed. Open Solutions ALM’s graphics transform the weight of information into the power of knowledge. It’s as easy as clicking twice on any item you want to see.

Reporting
The flexible reporting features in Open Solutions’ ALM let you create reports for your various audiences quickly and easily.

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Portfolio Genius^® Benefits

Seamless Integration

Portfolio Genius is designed to seamlessly integrate with existing subsystems and to process transactions, collect data and allow for flexible distribution of output in the form of reports and data. It allows you to view data at any stage of processing, from raw data to intermediate calculations to summarized output. It also allows you to import data electronically, thereby dramatically reducing or eliminating the need for manual input.

The Portfolio Genius allows an institution to select a technology architecture that meets their size, network structure and hardware configuration. From a single computer environment to a complex three-tier architecture utilizing multiple workstations, application servers and database servers, Portfolio Genius can be configured to satisfy your requirements.

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