Written by abhi
April 16, 2011 Hits: 423
In the past, it was labor and time consuming for businesses to come up with data required by executives due to the voluminous data, improper segregation, and the way various departments were structured. These delays not only resulted in loss productivity and profit, but it also tended to lose customers for the business –customers who were too busy to wait extensive periods of time for a small piece of information. The result of this widespread problem was the development of Manufacturing Resource Planning, which eventually led to Enterprise Resource Planning, or ERP.
The great solution provided by ERP was its ability to integrate all data from various departments into a centralized, common platform. The goal was to streamline the business’ procedures, ensure transparency, facilitate tracking down information, transform data from an assortment of forms into one template that everyone could understand and use, and generate reports in real time.
Today, ERP has become diversified and specific per industry. Each industry needs different operations and applications. As a result, each industry experiences different troubles and different successes when it comes to using Enterprise Resource Planning. That being said, businesses revolve around money. One function any business in any industry is going to want is accounting, which explains why ERP Accounting Software has become increasingly important in the business world. In fact, in 2011, it is safe to say that most accounting departments in businesses consisting of more than a few employees have adapted their computer departments to handle ERP accounting software requirements.
A company that has arrived at the conclusion that it needs ERP Accounting Software has to be aware the software is not cheap. ERP Accounting Software represents a major capital investment, and the sum total of that investment depends on exactly what modules a business needs. There seem to be an infinite number of modules that can be attached to accounting software. Financial, Payroll, Accounts Payable, Accounts Receivable, General Ledger, Fixed Assets, Purchase Order, Bank Reconciliation, and Timesheet Management are just a few.
Companies know that if a large sum of money is going to be spent on an important purchase, the purchase has to soon provide a good Return on Investment. Knowing also the great monetary benefits that ERP Accounting Software brings a company –by helping it operate efficiently and effectively- businesses know it is worth spending money to acquire the software that provides the best fit. In other words, get the most value for the money.