Improve accounting and finance systems with a Cloud ERP
With constantly changing business needs, accounting and finance systems are evolving with the times. The tools available to accounting and finance departments have improved by leaps and bounds in the recent years. Solution providers now offer more efficient delivery models, better control of risk and governance, better user interfaces, greater security of data & transactions and more functionalities & features.
Cloud ERP vendors have fundamentally changed how we select, implement, and use accounting and finance and ERP solutions. Smaller companies with expectations of growth can now implement these solutions that will grow with them. Larger companies can choose systems that closely fit their businesses and have native integrations with their most critical applications. ROI creation & tracking is now possible for the new finance systems which for the first time offer tangible business benefits.
Accounting systems even those that are state of the art, are still generally exporting data to Excel. Spreadsheets are faster and cheaper than customizing enterprise apps. This is a feature that ERP’s should have for compatibility.
The appropriate solution for accounting and finance
Some of the key criteria for selecting an appropriate solution are:
Drill down to the minutest detail possible: With enterprise software, the devil is always in the detail. Evaluate the solution based on criteria like these: How do you need to recognize revenue sales order line to sales order line? What level do you need P&Ls or balance sheets -business unit/product/geography? What tax reporting needs do you have? Ask all the relevant questions and evaluate the responses objectively.
Select and implement based on actual benefits: The benefits of cloud solutions for CFOs are many and eliminating upgrade burdens, reducing customizations, and continuous improvement are all listed as key differentiators for favoring them over on-premise solutions. It is important to determine the actual performance and benefits of the solution against your needs.
BI and analytics integration are key features that every ERP solution must have. Analytics is a vital tool for leadership as it influences how they make strategic decisions, monitor performance; improve their capability to improve the business with data driven decisions in real time. Many new solutions have integrated analytics and reporting platforms that help in this regard.
It is almost impossible to have good KPI performance for profitability, cost performance, and projecting revenue without a robust finance system that will be significantly enabled with the right ERP solution.
If you have to take a call on a decision on upgrading, adopting or the migration of your finance system, take the time to understand the options with respect to your needs as well as the points discussed.
It will make more sense to look at a comprehensive all in one solution for your business because the cost burden of the appropriate cloud ERP solution is affordable even for small business while offering significant automation & integration of work flows, processes with the achievement of more business competence.
We at VersAccounts have created a multiple award winning secure cloud based comprehensive ERP solution.Our solution is built to be capable, affordable and easy to use. It addresses key issues of the small business domain in the most effective manner possible.
Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions.
The VersAccounts Cloud ERP system allows businesses to optimize their operations across multiple companies, countries, and currencies with one system.
We will help you in a structured manner to migrate your data seamlessly from Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One etc when you make the decision.
To know more, please visit www.versaccounts.com or contact us directly.
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