3 Ways ERP Improves Financial Management

An ERP solution that is properly implemented provides the organization with an extensive view of how the company is doing from an income, expense, and profit standpoint. From a glance, management can view complete details related to their accounts and how they integrate with business analytics. More importantly, this total view of the company’s financials helps to improve financial control and manage risk. Cash Flow To any business, cash flow drives everything forward. 52 percent of business decision makers reported that they realized better cash flow and liquidity reduces the age of customer debt. This improvement comes as a result of the ERP system helping the business to better manage inventory through setting stock levels. Asset Management  The poor management of a business’s fixed assets can cost money. ERP solutions offer ways for companies to: §   Easily track and manage company assets §   Access comprehensive reporting of asset valuation a...