Enterprise Resource Planning: A Solution for all Accounting Challenges
Accountants in any Industry are often seen facing challenges in reconciling their financials daily or at the end of the month. The company’s accounting figures are customarily derived on more of guesswork than concrete explanation. These challenges could include simple data entry errors or duplicated data which over time piles up and lead to alarming issues such as:
- Delayed payments in accounts receivables
- Limited/ inaccurate cash flow
- Paperwork errors
- Mistakes when closing the books each month
- Erroneous invoicing
- Duplication of entries & registers at different department and branches
- Complete visibility of inventory data – no more second guessing when you need to order stock
- Automation of frequently/periodically occurred journal entries like Depreciation, Insurance or loan EMI etc.
- Efficiently meet compliance standards and country specific GAAP through optimised processes
- Ability to make informed and consistent strategic decisions with real-time reporting at group level
- Multi-currency support for companies having operations across globe
- Error free and systematic Year end closing
- Customer balance & aging direct e-mailing to customer via outlook integration etc.
- Ad hoc MIS reporting to suit the business needs
- “Future proof” from TAX system changes and other GAAP.