If you’re a business SaaS subscriber thinking about implementing ERP software, or even just upgrading from standard accounting tools like Quickbooks, you may be wondering, “what is an erp system in accounting?”
ERP (enterprise resource planning) systems are much more comprehensive than your average accounting software. They offer a wide range of functionality for all areas of a company’s business. ERP functions include centralized data collection for wide distribution, and they often feature next-generation technologies that make them faster to implement and more intuitive to use than traditional enterprise back-office software.
The best accounting ERP systems provide a central hub of data that all business departments can access. They streamline the work of accountants by offering a more organized way to review and analyze financial records. They also provide more visibility into company operations by bringing all data into a single, secure database.
For example, if an accounting ERP system registers several complaints about one of your company’s products, it can alert you that the product is faulty. It can then put a hold on the product so that salespeople can’t promise to deliver it until your inventory gets restocked.
As technology progresses, many companies are choosing to replace their outdated ERP systems with more modern software solutions that can meet the needs of their workforce. The cloud has accelerated this trend by providing rapid software upgrades that reduce maintenance costs and downtime. Find an ERP solution that can easily integrate with front-office applications to deliver a holistic view of customers, including customer relationship management (CRM) solutions.