The company’s accounting is made up of two types of activities, both fundamental: the ‘ operational concerns normal activities and daily tasks to ensure proper business performance, and strategic decisions that instead seek to interpret the current data to improve and increase the competitive advantage of the company.
In both activities, the use of ERP software can make a difference, speeding up and automating both ordinary administrative procedures and predictive ones and, therefore, more closely linked to improved performance.
An ERP software, by integrating business flows within a single platform, automates the related writings. The recording of a document means that the respective accounting facts are also recorded, reported in the income statement and balance sheet.
However, within a company, many transactions are to be tracked and often do not concern the active cycle exclusively and the passive cycle, such as the due dates of payments and related reminders, expenses regarding employees, management of assets and depreciation, or again, to bank movements.
A expense report software that cares about your business needs. It can effortlessly manage expense reports and employee corporate spending. The choice of an integrated ERP system based on a shared data structure within the same database is a more robust and efficient solution.
In any company, large or small, you may have to make critical choices that are fundamental to guide the company’s earnings and future growth. Being decisions of great importance, it is necessary to have financial information to have a clear image of the company immediately.
A Business Intelligence system’s functionalities that communicate with the ERP software provide users with compelling data visualization and extraction tools through dashboards, diagrams, graphs, detailed and customizable, and easy-to-read reports.
An Example: Electronic Invoicing
Thanks to electronic invoicing, mandatory from 1 January 2019, many accounting software solutions are available on the market able to meet the basic needs of this requirement. To choose the most suitable solution is to analyze the volume of invoices to be processed and your organizational size.
The complete ERP software can manage the entire billing process: from file generation to storage, offering the company significant savings in terms of time and support costs by the accountant.
Why Some Companies Are Afraid To Tackle ERP Implementation?
There are many possibilities in the market to choose ERP solutions, services, and consultancy services available to companies. Despite these possibilities, many companies are still undecided on choosing to implement a new ERP system.
There could be several reasons, doubts about various topics, for example:
The company cannot afford a complete overhaul of the ERP System
There are several ways to reach the goal of improving or implementing an ERP. One of these does not necessarily commit the company to invest in a complete implementation project. Usually, it is possible to purchase and implement the ERP solution modules separately to increase the functionalities according to the needs.
Am I choosing the right ERP for my Company?
You don’t have to find the perfect ERP solution to solve all problems. The ERP system that you will choose must put itself at the service of the business processes that the company uses and bring them together in a single platform, giving the possibility to all company collaborators to implement, view, and search for information. The technology partner plays an important role.
The company does not want to lose or drop other Existing Software Tools
Any ERP solution must work and integrate with other pre-existing tools in the business reality, including features that can help the company grow.