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 A Finance Manager’s (FM) Guide To Choosing ERP Software

Your role as a finance manager puts you right at the heart of the business. Managing accounting functions is a great responsibility. The ideal ERP software should provide the right tools for you to get the job done. In this finance manager’s guide to choosing ERP software, we shed light on how you can employ a best-in-class system that empowers you to lead the development of annual budgets and make accurate and reliable financial forecasts.

Enterprise resource planning software allows you to measure and manage company-wide financial performance metrics. Solutions like Acumatica provide your organization with reporting tools and systems to help your organization achieve operational goals.

a complete finance manager's guide to choosing enterprise resource planning software
important kpis required by a finance manager and how you get them through ERP software
Important KPIs for Finance Managers (FM)

For any finance department, access to quality and timely financial reports is vital. With intuitive dashboards that offer visibility on equity and throughput, you will have a view of your business’s financial health at all times.

ERP software Increases Insight and Analytic Capabilities

Acumatica allows you to implement greater finance and accounting processes and systems. You will notice a significant reduction in costs related to the creation and distribution of financial reports. Integration to Power BI brings all your data together where it can be analyzed with best-in-class tools.

Cost reduction and Improved Productivity with ERP software

The benefit of using a Cloud ERP solution is a significant reduction in IT costs. You will enjoy the ability to perform web-based financial consolidations. Only post transactions once with intercompany accounting. With no limit to the number of users, you can avoid mistakes and time delays by allowing all users to access the system to enter their data.

Stay Audit-Ready with Acumatica Cloud ERP

With an integrated ERP system, you get a more comprehensive picture of the current state of your business finances. ERP software allows the Finance manager to ensure all processes have security and audit trails. For those with multiple branches and locations, you can give all of them their own books and enjoy intercompany functionality and web-based consolidations.

Summary of this Finance Manager’s guide to ERP software

Increased insight and analytics capabilities

Increase productivity while reducing costs

Informed decision making

Accurate and audit-ready financial records

Important KPIs for FM’s

Return On Assets (Equity)

Asset Productivity (Throughput)

Cash Management

Quality and Timely Reporting

Gain full visibility on the data you need to measure how effective your company is with extending debt and collecting debts (ie. accounts receivable turnover ratio). As well as the data you need to measure the average number of days that an amount due to a creditor remains unpaid (ie. accounts payable turnover ratio).

Track your gross profit margin, the total number of monthly and daily sales, net income, total revenue, quote-to-cash cycle time, and debt-equity ratio.

Need help, beyond this FM’s Guide, with choosing an ERP solution?

A Comprehensive FM’s Guide to Choosing ERP Software

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