ERP systems unify essential business functions, such as accounting, financial planning and analysis (FP&A), supply chain, inventory management, and procurement.

Accounting software is a key component of an enterprise resource planning (ERP) system.

These applications are natively integrated with a common user interface and data model, eliminating the need to move between systems or integrate siloed data to manage different aspects of the business.

Key business benefits of ERP software:

• Enhanced Business Reporting
• Better customer service
• Improved Inventory Costs
• Boosted Cash Flow
• Cost Savings
• Business Process Improvements
• Effective demand forecasting and lean inventory for supply chain management

Accounting software manages and records the day-to-day financial transactions of an organization, including fixed asset management, expense management, revenue management, accounts receivable, accounts payable, subledger accounting, and reporting and analytics.

An accounting system keeps track of an organization’s assets, liabilities, revenues, and expenses.

These transactions then populate the general ledger in real time, providing CFOs, treasurers, and controllers immediate access to real time, accurate financial data.

Accounting software is crucial in helping organizations run their day-to-day business processes.

It allows business leaders to keep their finger on the pulse of their company’s financial health.