As businesses expand or move into different regions, they often need to create separate legal entities and this is where the concept of System 21 companies comes to the fore.
A S21 company is a complete set up on the iSeries, with full functionality in all modules. This means it can differ from the Parent in terms of style, base currency or even language. As different regions often have different financial regulations, this can be very important. However System 21 also provides a consolidation option, where multiple companies can be consolidated into one set of accounts. This function can also take into account different currencies and even different trading periods.
Sometimes this process is undertaken to introduce a new chart of accounts as dictated by head office and this is recommended as the only way to achieve this. However if you now feel the time is right for a new chart of accounts, contact IMS to discuss all options.
IMS can help plan and set up the new S21 company whilst providing advice on the best way to set up each module. Often it is useful to have an overview of a modules full functionality to make sure you are using it to its best use.
IMS can also assist with the upload of both static and transactional data e.g. customers, suppliers and items and outstanding orders. This ensures that the minimum amount of manual input is required which significantly reduces the cost and disruption to the business.
IMS provides support and project management throughout the project to ensure key deadlines and budgets are met. We also support Go Live and the immediate period after Go Live and then return to support finance at the first period end.
We have performed this exercise many times throughout the world in different industries. So whether you are in the food industry, electronics or distribution businesses, contact IMS to discuss how to create your new System 21 company.