Accounting and ERP Software

Accounting and ERP Software

Accounting Software

Accounting Software is typically used for small businesses. It covers the basics of money going in and money going out of the business. This information is used to create financial reports such as an income statement and balance sheet for tax purposes.

ERP Software

ERP (Enterprise Resource Planning) goes beyond accounting software. It tracks everything in accounting software plus more. It includes features such as order fulfillment, inventory, distribution, manufacturing, shipping, reporting, and more. It used to run your business where you have a centralized system to streamline your business.

What is ERP?

Enterprise Resource Planning (ERP) is a system that supports all of the business operations. It streamlines back-office processes and equips you with the visibility you need to make better and faster decisions. The greatest advantage of an ERP system is the ability to see what is going on with your company as it happens. It is handy when you deal with a high volume of business processes. With ERP software, your company can avoid inventory shortages or wasted time spent transferring files.

ERP software provides the solid operational backbone to a business. For manufacturers and distributors, ERP software will help improve the volume of production and fulfillment of orders while reducing costs. By optimizing business operations with ERP, the companies can focus on new business opportunities.

Benefits of ERP software:

  • Streamline processes and workflows with a single integrated system.
  • Reduce redundant data entry and share information departments.
  • Establish uniform processes that are based on recognized best business practices
  • Provide customized reports for better decision making
  • Improved workflow and efficiency
  • Improved customer satisfaction based on improved on-time delivery and faster delivery times
  • Reduced inventory costs resulting from better planning, tracking, and forecasting of requirements
  • Turn collections faster based on better visibility into accounts
  • Decrease in vendor pricing by taking better advantage of quantity breaks and tracking vendor performance
  • Track actual costs of activities and perform activity-based costing

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