Optimize Company Financial Management with the ERP Finance System

So that companies can run their business more optimally, it is now generally known as Enterprise Resource Planning (ERP). ERP is useful for integrating various processes needed for a business to run optimally.

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

This SIGMA article will discuss the ERP system in more depth, starting from understanding to explaining the ERP Finance module.

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Understanding What is an ERP System?

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

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 increase performance efficiency and develop business.

The basic principle is that the ERP system tries to optimize the company's business processes by reducing all unnecessary operational costs. Such as costs due to technical errors and inventory costs.

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

The technology used in the ERP system 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 of course related to company finances where management must be carried out efficiently.

Benefits of Implementing an ERP Finance System

Of course, company financial management must be done well and efficiently so that there is no waste.

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

The following are the benefits of implementing an ERP Finance system:

1.Automation of Financial Data

Financial data automation can definitely help the productivity of company financial management. By using an ERP financial system, you can combine various financial data in a fully automated manner.

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

2. Detailed Financial Reports

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

You can make projections of cash outflow and inflow according to inventory management and other factors.

3. Meminimalisir Human Error

The ERP automation system provides you with the benefit of minimizing the occurrence of human error. This is different from manual financial systems where there is more potential for human error in inputting the required data.

4. Overall Business Control

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

Company Finances are 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 make control easier 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 they can allocate costs to more beneficial things.

2. General Ledger Management

General ledger management is a fundamental function of using an ERP system. The ledger will provide all records of all financial transactions that have been carried out.

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 cash flow well.

Automating company accounts payable will certainly save you money and time. Likewise, minimizing errors that might occur.

4. Accounts Receivable

The ERP Finance system also makes it easy for you to manage all funds that must be paid by customers to your company. Of course, it will track all customer payments and manage their invoices and cash.

5. Risk Management

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

Therefore, the ERP Finance system can help predict, analyze and manage crises well. This can save the company from a 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 so on. This fixed asset management can give you better visibility for company 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 taken by company leaders regarding finances will be more precise.

Use an ERP System for Better Financial Management

Financial management must of course be carried out with the principles of prudence and good effectiveness.

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

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

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