Infor Goes In-Country with M3 Accelerators
January 14, 2014 Alex Woodie
Infor in December rolled out a pair of country-specific Implementation Accelerators for its M3 product line that will speed implementation of the ERP suite in the US and the UK.
According to Infor, each Implementation Accelerator Country Version is designed to enable the rapid deployment of the Infor M3 application in a specific geography–in this case, the US or the UK. The offerings are designed to make it easier to adhere to the specific statutory regulations and reporting requirements for daily business transactions and operations.
“Typically, an M3 customer will operate across international borders,” said John Chandler, Infor’s senior product manager for M3. “As a result, there is a need for the technology to support the rapid deployment of standardized financial processes when businesses expand into new countries.”
For example, in the UK, the M3 software is configured to account for VAT calculations, whereas the US version supports US sales and use tax. In the UK, users need to worry about financial business messages (FBMs) dealing with HMRC (Her Majesty’s Revenue & Customs). In the US, users concern themselves with the IRS’ 1099 reporting requirement.
Users have the choice of adopting the International Financial Reporting Standards (IFRS) and UK-GAAP to support process instructions for the valuation of inventory, or the International Accounting Standards Board (IASB) and US-GAAP to support process instructions to run currency translation rules governing subsidiaries.
Infor plans to eventually offer accelerators and M3 Country Versions for about 40 countries, which will allow it to support the different legal, infrastructure and business practice requirements around the world. It’s starting this journey with Implementation Accelerator for the US and the UK.