A centralized Accounting Hub can enable accounting automation by standardizing and enriching incoming and outgoing accounting data (journal entries).
Accounting Hubs (which generally include accounting engines and a single sub-ledger and are also sometimes referred to as accounting integration platforms) are software products that standardize the accounting from multiple (often heterogeneous) transactional systems to consistently enforce accounting policies and meet multiple reporting requirements in an automated and controlled fashion.
Accounting Hubs will typically serve the following business needs:
- Centralization of accounting rules for improved visibility, control, standardization, efficiency, and lower costs of transactional accounting processes
- Single source in which business events are converted to Journal Entries, including adjustments
- Enrich business events with information from other sources such as calculation engines and master data repositories
Axway Accounting Integration Suite (AI Suite)
Streamline integration between your enterprise applications, accounting systems, general ledgers, and financial reporting systems