Digitizing Accounting Processes
Digitizing accounting processes is one of the key improvements that can help small and medium-sized businesses gain better advantage over competitors. Many companies today have streamlined their processes, improved their efficiency as a result of implementing Enterprise Resource Planning (ERP) solutions.
With cloud solutions, businesses are beginning to move to cloud-based ERP solutions such as Microsoft Dynamics 365. This application platform offers a myriad of functionalities to manage day-to-day operations to boost operational efficiency. There are various functions businesses can benefit from including accounting, inventory, warehouse, sales, logistics and more. These functions enable companies to streamline different departments and workflows in one single solution. Information can be shared among staff in real-time and with minimal errors due to manual data entry.
Benefits of Digitizing Accounting ProcessesImproved Efficiency
Streamlined accounting and operations can help to improve efficiency as there would be no need for manual data entry or reconciling data from different systems. Besides accounting functions, an ERP solution will also enable businesses to provide data-driven insights from the historical information collected via the system.Visibility across the organisation
The availability of information within one system enables business owners to have clear visibility of the business performance. Different departments can share information seamlessly without the need to extract information manually. Data integrity can be maintained, and information can be obtained swiftly. Different staff within the same organisation can be given access to view information relevant to their roles. This means that the right information can be made available to the right person to facilitate their work without compromising on the confidentiality of information.Automation Across Board
The use of ERP eliminates the need to perform multiple data entry. Besides automating tasks, it will also be a great time saver and minimises human-related errors. Workflows can be configured so that specific task, notifications and task can be automatically set when certain criteria are met.Enabling growth
As a business owner, having a business management solution that is capable of handling the finance and operations of the business provides you with time and space to grow your business. You’ll spend less time worrying about the day-to-day operations of your business and more time on uncovering new opportunities and building new relationships with customers.
MicroChannel have extensive experience in assisting businesses to select the right ERP for different business needs. Our consultants have the right expertise to provide you with consultation and advice with regards to your ERP needs. If you are looking for a technology partner to assist you in your search for the right business solution, drop us an inquiry, and we will reach out to you.