ERP as a Finance & Accounting Solution

Companies use  ERP solutions to manage critical business processes, to respond quickly to change, and make the most of  assets and resources. These ERP solutions were originally aimed at very large companies but over the years have become simple to use and deploy—and easy to customise and adapt as business needs change. Just like cars the features aimed at the top of the market gradually perculate down.

Typically, ERP systems replace accounting packages that have been in place within a business for many years. They deliver the accounting functions needed AND they reach into other parts of the business and deliver more information to run the company.

ERP systems deliver benefits in a number of Finance/Accounting areas:

  • Financial Management
  • Planning & Budgeting

These are also typically found in an Accounting package – download this Guidebook if you want to decide when to move from an Accounting Package to an ERP Package.

Financial management

We have broken down the finance functions into 25 areas – download in the ERP-Checklist Guidebook to find the right system for your business.

ERP systems deliver greater visibility into finances and give people across your organisation the tools they need to improve financial management, financial forecasting, and accounting throughout your organisation.

Financial processes can be streamlined, analysis simplified  by automatically presenting formerly disparate sources of information in a single view, that can be tailored to roles eg distribution manager, CEO, CFO, Sales Director.

Share reports in a business portal on the company intranet, or publish data on your extranet with enhanced security to promote privacy for auditors.

Monitor business performance and spot trends with key performance indicators (KPIs), export information into a spreadsheet for further analysis, and access flexible reporting capabilities to present business information in the best format for your audience.

Generate real-time reports, close books quickly, and share data with multiple ways to report, analyse, and share information.

Expand into other geographies, markets, and industries, and support multiple currencies and languages.

Planning and Budgeting

Monitor, measure, and manage organisational performance with planning and budgeting applications that work with your enterprise resource planning (ERP) solution to measure business results and provide flexible reporting capabilities. Depending on your business needs, you can:

  • Deliver basic planning and budgeting with simplified, template-based planning and budgeting functionality
  • Take advantage of powerful analysis and reporting capabilities—including creating and publishing financial statements such as Profit and Loss (P&L) statements, balance sheets, and cash flow reports
  • Create boardroom-quality reports without IT help, enhance security for report distribution, and help support regulatory compliance
  • Build custom reports based on GL data, and slice data into rows, columns, or hierarchies
  • Manage complex consolidations and multiple currencies

Find the right ERP Vendor for you small, medium or enterprise business today!