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Unit4 Financials

Unit4 Financials

Overview

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Unit 4 Financials Meets Most of Our Needs

Rating: 9 out of 10
January 17, 2018
IncentivizedVetted ReviewVerified User
It is being used by our whole accounting department across all divisions. It handles all of our recording of financial transactions.
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Verified user
Supervisor
Unit4 Financials9 years of experience
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Pricing

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Unit4 Financials

Unit4 Financials

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  • No setup fee

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  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Product Demos

Homepage - Ep2 Unit4 Financials feature Spotlight Series

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Product Details

What is Unit4 Financials?

Unit4 Financials Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo
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Comparisons

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Reviews From Top Reviewers

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Unit4 Financials is a flexible and comprehensive ERP system that addresses various financial needs. Users have found it to be a suitable solution compared to other systems, particularly in expense location allocations. The software allows for effective management of financial demands, including the development of reports and sustainable budgeting plans. This has resulted in improved order and profitability. With its consolidated financial system, Unit4 Financials centralizes all necessary information, making it easily accessible to the appropriate individuals. The software has proven to significantly enhance efficiency, timeliness, and accuracy in handling workload and processing travel expenses.

Over the course of 24 years, users have expressed long-term satisfaction with Unit4 Financials. Its implementation has brought efficiencies to the financial reporting process, streamlining tasks and improving overall productivity. Furthermore, it serves as a cost-effective solution for collating accurate data from various software sources. The handling of multiple currencies and currency revaluation simplifies the setup of international businesses and enables the use of a single core financial tool for the entire organization. Additionally, the customizable nature of the tool allows for exceptions and special processing rules without requiring system changes.

By implementing Unit4 Financials, companies have significantly reduced the time spent on preparing financial statements and processing expense allocations, resulting in substantial time savings. AP Specialists utilize the software for invoice processing while support personnel have automated manual processes and reduced time-consuming tasks, thereby improving finance operations. Although not directly involved in its use, Unit4 Financials provides cost analytics and easy data gathering for the operations side of the business. It is also used for monthly financial reporting, enabling the creation of reports with relevant information in a suitable format.

Users appreciate Unit4 Financials' potential for further efficiency gains and express a desire to learn more about its functions and build custom reports. Overall, the user experiences with Unit4 Financials showcase its capabilities in providing a flexible and comprehensive financial management solution that addresses multiple needs in an efficient and cost-effective manner.

User-Friendly and Quick to Learn: Many users have found Unit4 Financials to be user-friendly and quick to learn, with a simple installation process. Several reviewers have appreciated the software's intuitive interface and easy navigation, making it accessible for both new and experienced users.

Robust Capabilities for Managing International Financials: Reviewers have highlighted the robust capabilities of Unit4 Financials for managing international financials. They have emphasized that technical expertise is not required to use the software effectively, allowing users from various backgrounds to efficiently handle recording, ledgers, books of accounts, and reporting in a smooth manner.

Customization Options Tailored to Specific Needs: The customization options available in Unit4 Financials have been highly praised by users. Customers are able to tailor the application according to their specific needs, allowing for more efficient and personalized work. This flexibility has been especially beneficial for small businesses as it enables easy filtering of relevant information.

Abysmal Customer Service: Several users have expressed their frustration with the abysmal customer service provided by Unit4 Financials. They have reported delays of up to 2 months in getting a response and difficulties in getting any kind of support from the company.

Complexity and Requirement for Financial Knowledge: Many users have found Unit4 Financials to be complex and require extensive knowledge of the tool, particularly for those without a financial background. This can be discouraging for users who are not familiar with financial processes and may lead to inefficiency and wasted resources.

Difficult Navigation and Lack of Intuitiveness: Users have highlighted the difficulty in navigating through the menus and submenus of Unit4 Financials. The options are often nested under multiple click-throughs, making it hard to find what they need quickly. Some features are also not initially intuitive, requiring training or trial-and-error to understand fully.

Users recommend having a strong technical team in place to ensure that Unit4 Financials is intuitive and easy to use for end-users. They emphasize the importance of existing Standard Operating Procedures (SOPs) for a successful product launch. Users also recommend Unit4 Financials for its standard, logical, and organized solutions for accounting purposes. They appreciate how the system takes budgeting and managerial operations seriously. Additionally, users mention that while the system works well, there are many menus and sub-reports, which requires some learning to understand the location of various features. Finally, users suggest taking a look at CODA as a new financial software solution and suggest reading to understand its capabilities for businesses. They consider CODA to be a solid product based on their understanding of it. Overall, users advise clearly identifying the scope of projects when using these financial software solutions.

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Unit 4 Financials Meets Most of Our Needs

Rating: 9 out of 10
Incentivized
January 17, 2018
Verified User
Supervisor in Finance and Accounting
Machinery Company, 501-1000 employees
Vetted Review
Verified User
Unit4 Financials
9 years of experience
Use Cases and Deployment Scope
It is being used by our whole accounting department across all divisions. It handles all of our recording of financial transactions.
Pros
  • It is easy to move around in if set up properly.
  • You can changes background colors to your choice.
  • It is customizable (you can create home pages specific to the user).
Cons
  • There is a lot of "building" when first starting up with the software.
  • Some of the data you cannot pull unless you have sequel knowledge, although capabilities are getting better.
  • There is not a good operating statement report option.
Likelihood to Recommend
This would work well for the back side of accounting...meaning after the invoice was created. If you need software to create invoices, this may not be the software for you (or at least you would have to do additional research on its capability). Other than that, it takes care of the majority of our needs.
Unit4 Financials Feature Ratings
General Ledger and Configurable Accounting (21)
30.952380952380953%
3.1
Accounts payable
90%
9.0
Accounts receivable
90%
9.0
Cash management
80%
8.0
Bank reconciliation
N/A
N/A
Expense management
80%
8.0
Time tracking
N/A
N/A
Fixed asset management
N/A
N/A
Multi-currency support
N/A
N/A
Multi-division support
80%
8.0
Regulations compliance
N/A
N/A
Electronic tax filing
N/A
N/A
Self-service portal
N/A
N/A
Global Financial Support
N/A
N/A
Primary and Secondary Ledgers
N/A
N/A
Intercompany Accounting
70%
7.0
Localizations
N/A
N/A
Journals and Reconciliations
80%
8.0
Enterprise Accounting
N/A
N/A
Configurable Accounting
N/A
N/A
Centralized Rules Framework
N/A
N/A
Standardized Processes
80%
8.0
Inventory Management (4)
20%
2.0
Inventory tracking
80%
8.0
Automatic reordering
N/A
N/A
Location management
N/A
N/A
Manufacturing module
N/A
N/A
Order Management (7)
N/A
N/A
Pricing
N/A
N/A
Order entry
N/A
N/A
Credit card processing
N/A
N/A
Cost of goods sold
N/A
N/A
Order Orchestration
N/A
N/A
End-to-end order visibility
N/A
N/A
Order exception Resolution
N/A
N/A
Payroll Management (5)
N/A
N/A
Pay calculation
N/A
N/A
Benefit plan administration
N/A
N/A
Direct deposit files
N/A
N/A
Salary revision and increment management
N/A
N/A
Reimbursement management
N/A
N/A
Reporting & Analytics (3)
53.33333333333333%
5.3
Dashboards
10%
1.0
Standard reports
70%
7.0
Custom reports
80%
8.0
Customization (2)
N/A
N/A
API for custom integration
N/A
N/A
Plug-ins
N/A
N/A
Security (2)
90%
9.0
Role-based user permissions
90%
9.0
Single sign-on capability
90%
9.0
Return on Investment
  • Because of the lack of operating statement reports, we've had to spend additional funds to use another system.
  • It does show data in real time, so no waiting for batches to update overnight.
  • You can do a lot of customizing to meet your own needs.
Alternatives Considered
Unit4 Financials is definitely much more robust than Peachtree or other software. I've also used SAP in the past and this seems to have many more capabilities.
Other Software Used
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