Priority Commercial

Financials

Medatech’s Priority Financial Management module provides companies with a comprehensive set of tools needed to manage all financial aspects of your business, while maintaining a high level of regulatory compliance.

The Financial module can process and report multi-company and multi-currency financial data, and may be customized to comply with any tax jurisdiction or set of accounting rules.

The Financial Management module supports multiple revenue recognition methods, handles billing and fixed assets, integrates BPM for tight financial controls and features a log of changes to financial transactions. All this is accompanied by a tightly integrated customizable financial reporting tool and BI utility.

Capabilities include:

Regulatory Compliance – Priority‘s compliance capabilities are based on the quantitative characteristics of any solid financial statement — clarity, relevance, reliability and comparability — making it a key tool for companies aspiring to financial regulatory compliance and control.

Billing – Priority supports a variety of billing methods and functions, including project-based billing, recurring revenues (services, rentals, etc.), pre-defined payment terms, delivery-based billing and more, all of which are tightly linked to our revenue recognition methods.

These preconfigured, field-proven capabilities make invoicing and cash flow management a matter of automated control, rather than a labor intensive, time consuming and error-prone manual process.

Fixed assets – Priority‘s fixed asset capabilities are seamlessly integrated with its purchase management module and the General Ledger (GL), providing complete lifecycle tracking and depreciation of assets, from purchase to retirement.

Cash management – Priority‘s cash management solution provides for complete, detailed monitoring of Order-to-Cash and Purchase-to-Pay processes, with built-in BPM enabling close tracking of Days Sales Outstanding (DSO), aging and cash-flow projections.

Cost control – Manage and control costs using multi-dimensional profit and cost centers.

Budget Control – Budget versions, budget periods, budget trees, and BPM are tightly integrated into the organization’s business activities from the purchase requisition through delivery, including interdepartmental service charges and inventory transactions.

Financial Statement Generator – This generator is used to customize financial statements (e.g., balance sheets, profit and loss reports, trial balances, and supporting schedules).

CRM (Customer Relationship Management/ Sales & Marketing)

A strong CRM / Sale & Marketing process is key for your company to grow and succeed.  Medatech implements Priority’s CRM module which has two components:

• Marketing automation for managing marketing efforts and pipelines
• Sales Force Automation (SFA) for managing sales reps and channels.

The Medatech CRM / Sales and Marketing Module provides you powerful tools for highly effective:

• Lead Management Opportunity Management
• Account Management
• Sales & Order Targets
• Target & Forecast Analysis
• Marketing Campaigns
• Reporting and Charting Tools

Purchasing

The Purchasing module enables the purchasing manager to receive real-time updates of the results of decisions regarding the balance of materials in inventory.

The Purchasing module is linked to the Financials, CRM, Sales, Project Management, Inventory and Production modules. This linkage allows the purchasing manager to view the sales orders and/or demand for finished goods that serve as the basis for purchase requisitions.

Main features include:

• Vendor relationship management
• Purchase orders
• Vendor price lists
• Vendor price quotations
• Demand forecasts
• Purchase requisitions

Inventory

Priority‘s Inventory Control module provides the ability to efficiently manage all stages of the product life cycle. The module enables users to manage inventory levels and maintain tight controls on inventory replenishment, minimizing excess stock and ensuring timely order fulfillment.

Main features include:

• Part management
• BOM
• Inventory counts
• Label printing
• Warehouse control
• Inventory transactions
• Delivery tracking

Project Management (Extra Cost)

Priority’s Project Management module provides capabilities that match and surpass those of dedicated project management systems. Project planning supports task interdependencies within or between projects, while activity-related reporting of labor & expenses and built-in BPM tools make the maintenance of project progress, in terms of both deliverables and outlays, an integrated part of the organization’s daily routines. Team collaboration is facilitated by linking each task to its related project and activity, coupled with e-mail integration that synchronizes relevant comments directly to the associated entity, ensuring that team members are always in the loop.

Main feature:

Resource management

1. Integration with MS Project

• Resource load simulation
• Resource load views

2. Manage external resources, such as subcontractors
3. Resource calendar

SOW and requirement documents management

• Manage Scope of Work (SOW) and requirement documents: Priority offers built-in tools for loading and synchronizing the documents used to organize work requirements with the pertinent project activities and deliverables
• Manage and authorize project revisions

Project-related BOM

Create project related bill of materials and handle procurement

Produce Gantt charts of project timelines

• Define advanced inter-dependencies
• Schedule activities using the critical path method
• Produce Gantt charts showing base-line versus actual project dates
• Issues tracking

Project costing, budgeting and invoicing

• Activity and project costing and budgeting with job role pricing
• Report time, materials and related expenses directly to the related activity and project, generate automatic notifications for project/activity related events, including expense and timesheet approval
• Manage project invoicing, including support for pro forma invoices and income recognition