The challenges of financial management can be overwhelming, especially paired with the daily routines of an organisation. Plus, with budgeting, new recruitment isn’t always possible. Fortunately, ERP software takes the stress out of financial and business process management.
The benefits of accounting software
- Improving business insight: with consolidated data you can holistically investigate business success, growth and innovation, as well as manage costs effectively. As it is all in the one place, you can strategise in a way that considers all avenues.
- Decrease operation costs: With the best practice methods and structured processes you can lower the costs that may come with multiple software systems and data consolidation.
- Enhance collaboration: Combining all elements of the business means that staff have complete visibility of all areas, and collaboration becomes easier. If one area of the business can see the success or challenge of another, they can find solutions that include their own expertise. Without this visibility, departments may get siloed and neglect to consider the impact of their KPIs with others.
- Improved efficiency: Naturally, spending time on one system is going to be far more efficient than looking at multiple, but efficiency can also be improved with the right user experience. Innovative software should consider all modern challenges that businesses face, and be able to offer faster, more efficient solutions.
- Higher user adoption rates: With a user-friendly platform that integrates everything in one you’ll find more users and staff adopt the platform. With software allocated for salary, for data and analytics, for operations, etc. etc., it can be frustrating to manage all these platforms at once. Integrating them all will encourage more adoption of the processes.
- Reduced risk: There can always be risks to manually managing processes, and utilising various platforms to tailor to various parts of the business, but this can also lead to human error and issues with communication cross-department. Integrated software reduces these risks, so you can focus on what’s important.
- Lower management and operational costs: Because you are integrating all of your processes into one software, you’ll find the budget you may have for software and operations will drop. This means more investment in growth opportunities.
What accounting software works best for medium-sized business?
Large corporations have the added benefit of budgeting for inhouse financial experts but, depending on the size and scalability of your business, it may not be feasible. Fortunately, accounting software can be implemented to manage everything seamlessly, helping you to reduce costs and maintain efficiency.
Leading accounting software for small and medium-sized businesses – Tencia
Arrow the creators and developers of the global ERP software brand, Tencia, provide small and medium-sized businesses with an intuitive, user-friendly, scalable system. The flexibility of this software means business of all shapes and sizes can take advantage of it, and it’s possible to scale up your software if necessary. We always encourage businesses to view the demo to see how Tencia can benefit you, and reach out to our team for any questions.
The great thing is Tencia works with a number of other applications, and is designed to offer real-time data, 24 hours a day, 7 days a week. Get one of the leading software systems for accounting and operational management from Arrow.
Call 1800 248 265.