What Is iplicit?

What is iplicit? – An Overview of iplicit

Overview

iplicit is a dynamic and cost-effective cloud-based finance and management software solution built for modern teams that want flexible, future-ready operations.

iplicit goes beyond traditional accounting software, transforming the way you handle your business finances. It comes packed with features such as automated bank feeds, intelligent reporting, integrated budgeting, and real-time analytics, functioning as real-time financial reporting that empowers businesses and teams to make well informed business decisions.

Experience seamless financial management with iplicit. From effortlessly handling accounts payable and receivable to efficiently tracking inventory and generating comprehensive financial reports, the platform grants you the freedom to concentrate on what matters most: growing your business.

Origins and Vision

iplicit is a creation from the team behind Exchequer, a multi award-winning accounting solution that has been a staple in the financial software market for over 20 years.

Despite having significant success, the founders believed that their implementations were costly and too lengthy but recognised that with advances in technology a more customer centric and cost-effective platform could be built – one that could be implemented in a matter of days, not months.

This belief fuelled their decision to re-enter the Accounting Software market and after partnering with Concept Software – combining their passion for technology and innovation – the team began building a cloud-based, intuitive and customer focused product that would dramatically reduce implementation time. From this, iplicit was born.

Who iplicit Is For?

The goal of iplicit is to bridge the gap between entry level or on-premise finance systems with large scale ERP systems such as NetSuite or Microsoft Dynamics. This makes iplicit the perfect fit for small to medium sized operations that needs stretch beyond the capabilities of on-premise systems (or starter solutions like QuickBooks and Xero), yet may not necessarily have the time, money or resource for systems like Dynamics and NetSuite.

With its value and functionality iplicit has seen great success within sectors such as Nonprofit, Commercial/Professional Services, Education, Accountants and Outsourcing.

Adoption and Reach

iplicit is currently used by over 1550+ organisations spanning over 94 countries with in excess of 30,000+ daily users.

iplicit Features

With feature rich functionality iplicit will help you to automate time-consuming processes, modernise your finance operations and aid business growth.

Here’s a run-down of some of the key functionality iplicit provides.

Intuitive Navigation

• Access from all major internet browsers.
• Simple user-friendly navigation interface.
• Quick access menus: customise menus for quicker navigation.
• Create personalised filters to refine search results.
• Efficiently search across the entire system for quick access to information.

Reporting and Dashboards

• Instantly uncover valuable insights with real-time data analysis.
• Simplify reporting by designing a versatile ‘Enquiry’ that can be used across multiple reporting needs.
• Achieve data consistency and eliminate conflicting versions by accessing a single, reliable source of information.
• Effortlessly identify patterns and trends through user-friendly, built-in dashboards.

Powerful GL Analysis

• Easily configure and analyse data at multiple levels within the General Ledger.
• Tailor the depth of analysis based on specific GL Codes.
• Gain immediate insights without relying on external systems, thanks to the powerful and adaptable ‘Data Cubes’ functionality.
• Experience Tree Views that are user-definable, providing intuitive navigation and a visual representation of data relationships throughout the product.

Document Management

• Retrieve all your important documents, contracts, and orders instantly.
• Safely store your documents in a secure cloud environment for peace of mind.
• Enhance record-keeping by attaching documents to every record and transaction.
• Tailor your preferred keywords for different transaction types.
• Advanced search features to quickly find specific information within your documents, contracts, and orders.

Bank Reconciliation

• Streamline your financial processes by automatically downloading bank and credit card statements.
• Drastically cut the time spent on Bank Reconciliation by 80% with automated matching.
• Continuously improve and reduce the time spent on recurring tasks month after month with Machine learning technology.
• Simplify the process of adding missing transactions by utilising auto-templates.

Credit Control

• Unlock enhanced efficiency and effectiveness in Credit Control processes with Implicit’s powerful Credit Controller.
• Streamline your debt collection process with automated debt chase emails that can be tailored to your specific requirements.
• Access a comprehensive view of debtors, credit control notes, and transactions in a single, intuitive screen.
• Easily add notes to a dedicated credit control notepad for improved record-keeping and collaboration.
• Initiate calls directly from the software.

Excel Function Library

• Leverage the comprehensive features of Iplicit’s Excel fx library to generate insightful management information seamlessly.
• Experience real-time updates by modifying parameters at any time.
• Utilise the power of the Excel fx library in both the desktop and web editions of Office365.

Batch Payments

• Effortlessly manage and process payments to suppliers and employees with a user-friendly and streamlined approach.
• Customise your selection of suppliers with ease by utilizing multiple filters, saving time and ensuring accuracy.
• Ensure thorough control and accountability with a full authorisation workflow that allows for seamless approval processes.
• Integration with bank software for processing of payments.

Timesheets

• Leverage the user-friendly functionality for the simple management of Timesheets.
• Gain valuable insights into time allocation within seconds.

Stock and Inventory Management

• Manage your entire stock inventory with a robust with comprehensive stock management functionality.
• Manage stock across multiple warehouses and bin locations, ensuring optimal inventory organisation and tracking.
• Effortlessly manage SKU variations, including colour and size.
• Handle sales and purchasing order processing, streamlining your order management workflow.

Fixed Asset Management

• Unlock a comprehensive suite of features in iplicit’s integrated Fixed Asset Management software, enabling organisations to effortlessly access critical asset information and gain valuable transaction insights.
• Gain valuable insights into asset cost and depreciation through iplicit’s seamless asset record management capabilities.

Integration

• Eliminate the challenges of errors and data isolation with iplicit’s public API, allowing you to connect iplicit with your other essential business applications.

Multiple Subsidiary and Intercompany Management

• Iplicit enables the management of multiple legal entities and allows the consolidation of these entities for group reporting purposes.
• The system adeptly handles multiple currencies, enabling the use of distinct exchange rates for inter-company transactions and consolidation processes.

In Summary

Created by a team with over 25 years of ERP implementation experience, there’s no surprise iplicit is rapidly growing in popularity within the business solutions marketplace.

iplicit is packed full of features like automated bank feeds, intelligent reporting, integrated budgeting, and real-time analytics. This empowers your businesses to make well-informed decisions, seamlessly handle accounts payable and receivable, efficiently track inventory, and generate comprehensive financial reports.

What’s perhaps most impressive with iplicit is its efficient implementation. With iplicit businesses can be experiencing the power of the platform in a matter of weeks, making a switch to iplicit a breeze.