Top Financial Management Features in ERP

Today’s financial leaders realize that improving processes and efficiencies across the business can lead to game-changing results when it comes to customer experience — impacting the organization for well into the future. More and more, they are turning to data-driven insights for business growth and to achieve a greater return on investment (ROI).

Cloud-based ERP solutions can significantly impact how a company functions; employees armed with state-of-the-art technology are more inclined to out-perform those using outdated legacy systems or error-ridden and timely manual methods.

What does this mean for financial teams? Bidding farewell to Excel files and welcoming in the digital age will free the teams up to focus on other, often more pivotal, concerns that determine the company’s growth potential.

Let’s look at the leading four capabilities that can give financial teams an edge over the competition:

Curtailing the Dreaded Expense Report Submission

Anyone who’s ever reconciled an expense report can likely call upon the pain-staking process from start to completion. Finding all the necessary receipts, filling out the intricate details, and working to secure verifications can be a headache — even for the most organized individuals and managers.

ERP implementation frees employees up to work on more pressing initiatives that can advance the business. The latest technology automates the expense process, making the process much easier and faster.

Time Tracking is a Breeze in the Field

It’s easy enough to misplace a timecard in a traditional office space, but employees in the field face even more challenges. Do to the nature of the job, field works are mobile, transporting their timecards rain or shine and at length.

Having the ability to clock in anytime and from anywhere — thanks to time tracking applications connected to mobile interfaces — helps employees to avoid delayed payroll if time sheets are lost or damaged. The result is a happier workforce and a financial team that can put energy into forward-reaching efforts versus putting out needless fires.

Imports Ensure Reliability

Historically, companies hired staff to key bank transactions, while employees with a penchant for technology delved into Excel for spreadsheet creation. Fast forward to the present day and ERPs give organizations the tools to keep ledgers in line and boost employee satisfaction.

Both bank transactions and credit card statements are imported within the solution, effortlessly and with much more accuracy. There’s no need to wait for systems to sync; importing provides a more reliable and timely reflection into accounts.

Invoicing Made Easy

Invoicing is the lifeblood of a business. No matter the stature, a company must smooth its accounts payable process. Improvement around invoice generation and distribution helps to ensure that bills are paid and received on time.

Automation can elevate the need for employees to manage processes. Recurring payments unburies staff, freeing them up for work that can impact the company and its profits. From reviewal to approval, an ERP offers a comprehensive view in one simple, mobile interface.

Take the First Step, Today!

Acumatica makes it easy for accounting leaders to implement a single solution that consolidates financials while improving processes and driving business growth.

With a highly advanced system, customers are able to take advantage of the many beneficial aspects a cloud-based ERP system includes. Flexible, powerful, and born in the cloud, Acumatica Financial Management delivers this functionality—providing the scope you need whether you are a small shop or a multinational firm. As a leading provider of this solution, Donas Group has the skills to customize, integrate, and deliver this solution for companies like you.

We have a long-running history of partnering in software excellence and look forward to the opportunity to take clients into the future with cutting-edge software technology that delivers results. Contact us to learn more!