In order for companies to carry out their business more optimally, it is generally known today as Enterprise Resource Planning (ERP). ERP is useful for integrating various processes needed for businesses to run optimally.

One of the modules contained in ERP software is ERP Finance. Where the company's financial management is vital and very important to be processed as efficiently as possible.

This article SAP Bandung will discuss more about the ERP system starting from understanding to explaining the ERP Finance module.

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Understanding What is an ERP System?

ERP (Enterprise Resource Planning) system is an information system used by organizations/companies to integrate and automate all business processes they run.

ERP systems are useful for managing business processes such as logistics, distribution, human resources, accounting, and finance. This system can be said to be the backbone of the company to improve performance efficiency and develop business.

The basic principle is that ERP systems seek to optimize a company's business processes by reducing all unnecessary operational costs. Such as costs due to technical errors or inventory costs.

The use of an ERP system is certainly equipped with hardware and software that can integrate information data used in business processes. This allows fast and precise decision making so as to increase the efficiency of company performance.

The technology used in ERP systems is able to integrate various functions, including marketing functions, resource functions, production functions, logistics functions, finance functions, and others.

One of the most important functions or modules is ERP Finance.

This function is certainly related to company finances where management must be carried out efficiently.

 

Benefits of Implementing an ERP Finance System

The company's financial management must of course be carried out properly and efficiently so that there is not much waste.

To reduce such potentials, you need to implement an ERP Finance system for your company.

Here are the benefits of implementing an ERP Finance system:

1.Financial Data Automation

Automation of financial data can definitely help the productivity of a company's financial management. By using an ERP financial system, you can combine various financial data that is fully automated.

This automation allows you to track all types of financial transactions quickly and securely. So the potential for mistakes to be made will be reduced.

2. Detailed Financial Statements

Using your ERP financial system will make it possible to create more detailed financial reports. Not just like balance sheet, profit and loss, and so on.

You can make projections of cash outflows and inflows according to inventory management and other factors.

3. Minimize Human Error

The automation system of ERP provides benefits to you to minimize the occurrence of human error. Unlike the manual financial system where there is more potential for human error in inputting the required data.

4. Comprehensive Business Control

Using an ERP Finance system allows companies to control the business as a whole. This is related to the information presented can be seen in real-time so that it can provide solutions for a fast decision-making process.

 

Company Finance is More Controlled with ERP Software

Financial ERP systems focus on budgeting, forecasting, and future business planning.

This is because financial ERP software provides various features that will facilitate control for companies that use it, including:

1. Profit Tracking

One of the main functions of this financial system is profit tracking. This will help companies assess their financial condition in real-time so that they can allocate costs to more useful things.

2. Ledger Management

Ledger management is a fundamental function of using an ERP system. The ledger will provide the entire record of all financial transactions that have ever been made.

3. Accounts Payable

Control over accounts payable is also important for the company's business development. This feature integrates expense data with your purchasing system, allowing you to control your cash flow well.

Automating your company's accounts payable will certainly save you money and time. It also minimizes errors that may occur.

4. Accounts Receivable

ERP Finance system also makes it easy for you to manage all the funds that your customers have to pay to your company. It will track all customer payments and manage invoices and cash.

5. Risk Management

Every company has its own business risks. Company leaders also want the organization they run to be well protected.

Therefore, the ERP Finance system can help predict, analyze, and manage crises properly. This can save the company from financial crisis.

6. Fixed Asset Management

The financial ERP system can also manage all fixed assets owned by the company. Such as manufacturing equipment, cars, computers, and others. This fixed asset management can give you better visibility into the company's financial maintenance.

7. Reporting

ERP financial software provides real-time access to manage your company's financial data. This is used to predict and provide data analysis so that decisions made by company leaders regarding finance will be more precise.

 

Use ERP System for Better Financial Management

Financial management must be done with prudence and effectiveness.

We can help your company to implement the Best ERP System. By using our ERP system, the company's financial management becomes more measurable and well monitored,

So as to minimize the occurrence of human error and fraud in the management of company finances. Our ERP software has many features that will greatly assist companies in controlling every financial process in the company.

This is a review of ERP Finance software which is currently very useful for managing your company's finances. By using ERP finance software, you will be able to better manage company finances.

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