An ERP system that is fully integrated allows you to run your entire business operation, including your accounting and finance departments, with a single system.

Using one system saves you time, as it eliminates the need to cross-reference and re-enter the same data into multiple systems and spreadsheets. A fully integrated system increases the accuracy of your accounting and financial reports by eradicating upload errors, input errors, and potential timing errors. You will also save the money you are currently spending on maintaining and upgrading multiple systems.

Using a fully integrated ERP system also allows your accounting staff to work from a single customizable dashboard that includes all the information they need. You can manage and keep tabs on various projects, accounts, and functions from a single screen, and always have a real-time snapshot of the KPIs and tasks that are important to you.

Another advantage of a fully integrated ERP software system is the choice it gives you. Love your current payroll system? An ERP system lets you use external systems where they are advantageous, as they can be easily integrated into your main system. In this way, you can create a system that is totally tailored to how you work.

Without an integrated system, there is no choice, and all processes have to be completed externally by disparate systems, eliminating the ability to create the perfect integrated accounting system for your team. ‍

How does ERP improve finance insights into your business?

Many of your accounting and financial tasks can be completely automated with an ERP.

An ERP will simplify accounts receivable and accounts payable, reduce your overheads, and improve cash management and cash flow issues. And instead of your staff spending almost half of their work hours on data entry, they will have time and energy to focus on other tasks.

An ERP will not only increase your accounting team’s productivity it will give you better insight into your company’s financials. With time freed up from doing data entry, your accounting team can devote themselves to more important tasks, such as creating detailed financial reports.
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ERP technology gives your accounting department easy access to data. Organizations that use separate systems for accounting and sales activities have to manage the data manually. However, with an integrated ERP system, there is a fast and automatic transfer of data, ensuring that it is accurate and consistent.

Access to real-time data from across your organization allows your accounting team to track financials better than ever before. You will have greater visibility into your company’s finances, including the information you need to assess which business lines and projects are profitable, and which need to be improved.

How ERP helps achieve Accurate job costing

Job costing is one of the major ways your accounting and finance team adds value to your organization. Job costing is important internally to your accounting team so it can properly prepare income statements, but is also of value to your organization and your bottom-line.

Precise job costing not only tells you how much each job you take on actually costs you, it also helps you identify where you can become more efficient and save on costs. This can help you improve profit margins, or can be savings that you pass on to your customers in terms of lower prices.

A fully integrated ERP system allows you to trace job costs throughout the production process and lets you gather information on costs, such as the allocation of costs per employee wage rate/work center rate. Having this information at your fingertips lets you drill down on costs, so you always know your exact job costs and can make quicker and better-informed decisions about how to make your business more efficient and how to save money.

Perfect ERP Module for Finance Management

Averiware ERP’s easy-to-use accounting module is in sync with all parts of your business and projects, eliminating the need to maintain parallel systems. Averiware includes accounts receivable, accounts payable, general ledger, and banking management modules.

The system is user-friendly, flexible, and intuitive. Our implementation team, rich in accounting experience and understanding of your business needs, can train your front office quickly.

Streamline your accounting processes today – Get a free demo!

Despite the fact that e-commerce solved a global need to acquire products, even services, without risking contagion businesses had to rapidly transform. For this reason, regardless of the industry to which it belongs, all companies are technological.

It is important to clarify that being a digitized company implies a reconfiguration of the business model to turn it into an aligned, synchronized and ready unit to respond to the constant changes in the consumption habits of the target market and not, as many companies do, to have a site and social media.

If your business managed to overcome the challenges of 2021, and you already had a site that offers a good experience to your customers, then you need to implement these three technological tools to continue operating in this new normal.

1. Cloud-based ERP Software

Although the economic reactivation is starting, day-to-day business remains the same: fixed expenses, billing, accounts receivable and accounts payable, payroll payments, inventories, etc. and if managing the business correctly was already complicated, now it is even more so, as we must make the most of all resources.

The good news is that Enterprise Resource Planning (ERP) systems exist today. They are the softwares that have the ability to take charge of different internal operations of a company, from production to distribution and the vital correct management of inventories.

You may think that this type of technology is only used by large companies or the occasional medium, but no. Now it is a reality that an ERP system in the cloud is suitable for all types of companies, from multinationals to SMEs.

It is due to its dynamism and great advantages that any company, regardless of the different processes it has or the sector to which it belongs, can adopt this software. Currently, there are providers that specialize in the implementation of ERP in the cloud designed to solve the management and administration needs of SMEs.

2. CRM Software to draw up effective sales strategies

A Customer Relationship Management (CRM) is one of the key tools that every SME can implement and that, most importantly, will help them manage their sales strategies.

A CRM is a system that stores customer and potential customer data in order to manage information and provide proper monitoring and service. This tool can be used in both large and small businesses. For SMEs, it can help anticipate needs, increase sales, and create efficient marketing campaigns to attract more customers.

Basically, the function of a CRM is to organize customer databases, analyze the data so that each contact has a well-defined profile, monitor the purchasing behavior of each contact, and optimize sales strategies. In other words, a CRM is the tool that enhances the work of the sales team.

3. Invoice Management Software for managing invoices

It’s very important to be clear about how to fill out and manage all your invoices to avoid penalties. Now it’s possible to identify both for you and for your clients what is being invoiced, the way in which the payment is made and the amounts pending payment. The advantage of making electronic invoices is that you can have control of what you buy and sell, as well as a better vision of your accounting and the direction of your business finances.

Today, technology is available to everyone. It changed from being a luxury to being a part of the daily life of small- and medium-sized companies, thanks to models in the cloud and on-demand. In addition, there are business software developers specialized in solving the needs of SMEs, with which, if you are the owner of a business, you get the same technological advantages as large corporations.

There are no excuses. Now’s the time to join the global digital transformation and boost your business’s growth. Book a Free Software Demo Today!