ERP systems, or Enterprise Resource Planning, is one of the best ways in which to keep tabs on a growing business. Not only does ERP assist with fine-tuning various business processes, but it also improves overall performance and productivity.
One of the most appealing reasons to invest in an ERP system is the ease of automation and the convenience of integration, especially when it comes to accurate financial management. With a fair amount of uncertainty in the South African economic climate, business owners and decision makers are focusing more on instant gratification when it comes to financial information – constant, easily accessible, accurate, and up-to-date. The best way in which to achieve this is to invest in an ERP system that supports fully integrated financial information to provide accurate reports on sales, debtors, and available stock. Not only will this information help business owners keep track of their operations, but it will also help them identify weak points in their existing processes.
If you’re looking for reasons to invest in an ERP system, or if you’re looking to upgrade your current software, take a look at these five benefits of ERP systems with integrated financials:
1. Access to core financial information
An integrated ERP system allows business owners access to core financial information that allows them to take a deeper look at their organisational processes. Not only does this allow decision makers to analyse profit versus loss, it also allows them to take a closer look at internal processes and procedures. How are sales managed; how often is accurate stock take done; what efforts are being made to improve sales; which employees are performing at the top of their game?
2. Accurate financial and accounting processes
Convenience lies at the heart of an integrated ERP system which means that financial and accounting processes are simplified and, to an extent, automated. Not only does this eliminate vital time spent on administration, but it highlights existing processes and ways in which they can be improved. An integrated ERP system also minimises the staff component necessary to streamline various financial and accounting processes, allowing business owners more time to concentrate on growing their businesses.
3. Streamline and automated financial operations
There is nothing more distracting than disjointed financial operations that require a large staff component and micromanagement. One of benefits of an integrated ERP system is streamlined and automated financial operations that are accurate, up-to-date, and easily accessible. Once these processes are streamlined, staff and business leaders are able to focus their attention elsewhere.
4. Complete integration across infrastructure landscape
An integrated ERP system means complete integration across an existing infrastructure landscape. This translates into a system that fits into existing IT setups, making it flexible and customisable to each business owner’s particular needs. There is no denying that an ERP system is an investment, which is why full integration allows business owners to cut costs by eliminating the need to purchase new machinery or software.
5. Make sound financial decisions
Ultimately, an integrated ERP system allows business owners to make sound financial decisions based on the accurate information that it provides. From tweaking processes to restructuring staff components, an integrated ERP software solution can help improve a business ten-fold.
When it comes to business growth, an integrated ERP system will allow business owners to make safe and informed decisions on how to navigate their trajectory. For more information on a reliable ERP software and service provider, click HERE
