Accountants in growing, small or midsized businesses often face challenges in their day-to-day operations that may appear to be minor at first. These challenges could include simple data entry errors or duplicated data, but over time, the challenges can pile up and become much larger issues, such as:
- Delayed payments in accounts receivables
- Limited/ inaccurate cash flow
- Paperwork errors
- Mistakes when closing the books each month
- Erroneous invoicing
You can solve and avoid these challenges by using an Enterprise Resource Planning (ERP) software that streamlines and automates your day-to-day accounting tasks such as invoice deliveries. An ERP system helps you manage your entire business but it also integrates your accounting and inventory information, and ensures correct customer invoicing and financial statements. In addition, using an ERP system offers:
- Complete visibility of inventory data – no more second guessing when you need to order stock
- Efficiently meet compliance standards through optimized internal processes
- Ability to make informed and consistent strategic decisions with real-time reporting
This video is an example of the challenges that many accounting teams deal with on a day-to-day basis. Watch the video and learn how you can solve the top 5 accounting challenges with an ERP system, such as SAP Business One, designed for growing small & midsized companies.
