Most businesses maintain a different system for both ERP (Enterprise Resource Planning) and accounting. It depends on the size of the company. In some cases, a company may not even have ERP software.
Some might have acquired both these applications at a different time and implemented them for their primary purposes. These can be accounting packages for financial management for the books and ERP for operation management. However, this separation of both applications is not necessary anymore and not evens a good idea. GluonERP provides using an accounting solution, which gives all of the following benefits to an enterprise.
Value of Incorporation:
As experts, we will highlight some of the reasons why is it wise to use ERP software for accounting and financial management.
At a higher level, most of these benefits can be related to one main issue, which is incorporation or integration. From a variety of sources, the data is fetched for the accounting systems as a requirement. This includes HR, warehouse management, logistics, etc., ERP-based accounting instinctively integrates the given multiple data sources.
ERP-based Financial Management & Accounting Benefits:
GluonERP has worked with many clients all around Pakistan on ERP-based financial and accounting management. We have listed down some of the benefits that came from using accounting in the ERP suite:
Detailed and Rich Financial Reports:
Standard accounting packages provide basic or narrow financial reports such as income statements or balance sheets etc. ERP software offers varied kinds of reports. Examples may include order statuses, and cash flow estimation primarily based on the inventory management and so forth. These reports help a company more than just financial data. With software, you can manage your business more effectively.
More mechanization or automation can help with productivity. By combining the software and accounting processes, it is feasible to automate the flows in the work, which cross between both the systems. Many of the financial and accounting tasks can be completed automated when a company is using ERP combined with accounting. For instance, it is easier to streamline the account payables and account receivables management as well as cash flow management. It is also easier to track financial transactions through automation. It can all be provided by GluonERP in Pakistan for better performance.
Freedom from Similar Data Entry:
By having two different systems or applications there is a huge risk of manual re-inputting of similar data from one to another. Combining ERP with accounting removes this monotonous process of data entry done manually. According to users, ERP software makes the data entry smooth, consistent, and fast.
Entering data manually is notoriously susceptible to error, which includes wrong client contacts or names, transposed digits, and other errors. This can cause serious calculation mistakes, which are not so easy to unwind later on. With software, it is easier to see who did what for each of the transactions only in the case where you need to find the person who has made some error.
We suggest that using ERP-based accounting gives its clients more control over their businesses. You can see the crux impact of the events and the decisions in real-time.
The financial data is extremely confidential and it must require safety from fraudulent dealings. This ERP system provides the clients with multi-layer security to their stored information. It gives role-based entry to the authorized users to prevent any security breaches.
Financial management with GluonERP:
Our team at Gluon ERP has experience in setting up their clients on ERP software with accounting. For a financially stable company, this might mean moving on from the legacy standalone accounting packages. It is a whole process but there is no need to have a lot of complexity or challenge.
However, it does take a lot of focus and some effort. This software provides the services and expertise to its clients in Pakistan. If you are interested and want to learn how to help run, your business and accounting had better talk to us.
GluonERP delivers features that are easy to integrate with any enterprise and provides adaptable resources. It gives planning software that will streamline the processes and facilitates the decisions of an enterprise. The software delivers a powerful finance system that is simple enough for small businesses and detailed enough for complex multi-nationals. It can support your needs in the future and today.
Connect with us today and experience how you can take advantage of our software. Talk to us so we can tell you more about how the software makes your financial management and accounting better. We will help your business grow and benefit in ways you want it to.