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Accounting ERP Software rules

Now that so many small businesses are making the trek to Enterprise Resource Planning (ERP)
it has become pretty clear which applications module gets set up first. It’s accounting! And accounting ERP software is perhaps the most bundled application on the platform. This remains true for on-site installed systems, with their servers, storage and software, and the popular, subscription-based Web-based software as a service, systems.

Accounting software has always played a major role in business administration. It is one of, if not the, core business processing application. And it’s also perhaps the most bundled applications modules on the ERP platform. Enterprise software is placed into a single, centralized database that is distributed. The applications are accessed from just one repository where staff and management come to process business tasks, communicate, collaborate and share information.

Much information is collaborated on and shared with bundled accounting applications. Manufacturing needs accounting input, supply chain management has a budget to fulfill, sales and marketing have promotional initiatives that need to funded, customer relationship management needs to be addressed. Each of these units depends on the folks in accounting to ensure that they are accounted for, funded and paid. And the accounting unit has an applications module that can address all of the different unit’s needs with accounting ERP software.

Good accounting software has always been in demand by businesses. In the past, that meant finding the best solution in a box. But today, there is a a better option and many businesses are taking advantage of it. It’s taking the ERP approach to software. And for those working in accounting, there is no better alternative; and certainly not out of a box. This is the graduate, rotate, software that can do so much more than the alternatives.

Accounting is a monitoring and tracking activity. It has to be responsive to the the needs of the whole enterprise. It is interacting on a daily basis, every day, with all other units of the company for one reason or another. It has to be flexible and responsive at the same time. It knows what’s been transacted, when it was transacted and all costs involved in the transaction.

In order to run a successful operation, you need real good accounting software because it has to do so many things. It’s the application that is counted on most to ensure cash flow and continuity. It’s the application’s quarterback. And if it’s accounting ERP software, you’re bound to succeed.

The Importance of ERP for your business

To truly move forward as a business in a competitive environment, an organization must progress in its use of technology and systems as they can lead to significant cost savings and efficiency improvements. For all businesses, small and large, enterprise resource planning systems are a great way to scale and optimize departments and processes.

The use of enterprise resource planning systems is present in all types of business organizations, from retailers, manufacturers, and service providers of all sizes. It is simply a great way to organize a variety of departments and job roles into a single computer system, with information easily available and verifiable. As a business grows, the use of enterprise resource planning systems becomes a significant necessity. The use of an organized system allowing departments and functions to coordinate real-time is a critical backbone of any company. Processes starting from sales, to order, to invoice, to receipt of payment all are often streamlined with the use of such systems. Increasing efficiency, decreasing potential for human error, and providing accurate and timely information are all benefits of having enterprise resource planning systems in place.

Though there is a seemingly overwhelming amount of choices when it comes to selecting enterprise resource planning systems to use for a business, one must analyze their own requirements and compare. The different software choices often have different strengths and focuses, as well as specializations for certain industries. There are ERP systems for all different sizes of businesses, made to satisfy different budgets with different feature-sets. The choice of ERP system is a critical one, not only for the significant initial investment, but the daily use the entire business will be relying on it for. There are many factors to weigh in, such as the cost-benefit analysis of having the system upgrade, or simply hiring additional company assets in order to make up for the inefficiencies currently attributed to not upgrading the enterprise resource planning system.

More often than not, the choice to go for an ERP system upgrade is a wise one. Though it is difficult to measure, the choice impacts the future of operating any business. It can lead to a constant savings over the use of such a system, as the benefits can often eliminate the need to hire additional employees, as well as mistakes being made from greater amounts of tasks being done manually, whereas they could be automated and streamlined by an ERP system. With such a system implemented, owners of companies gain control and visibility of the daily operations with reporting and metrics. The importance of a good ERP system is extremely important and should not be overlooked.

 

There are tremendous benefits for organizations that use enterprise resource planning (ERP) systems. A key success factor in business today is the ability of an organization to keep their information arranged in a way that allows easy sharing between departments and the ability of management to mine their data, discover new information and ultimately make smarter decisions.

The advances of enterprise resource planning systems providers over the past decades have allowed them to offer powerful, out-of-the-box solutions for businesses with tens of thousands of employees to small businesses with barely a handful of employees. No matter the size of the business, enterprise resource planning systems provide great benefit and value, but not all businesses have the same needs. This is why many ERP providers offer the ability to customize their products.

Implementing an enterprise resource planning system can be quite an undertaking. Business processes need to be uncovered, explored, talked about and debated. This aspect often leads companies to question whether certain business processes are actually best practices or if they can be improved upon. This is undoubtedly one benefit of implementing an ERP system. Getting employees on board with a new system is another challenge faced in ERP implementation. Sometimes employees are resistant to change. This is especially true when they have a good way of going about a certain business process. Fortunately this is what customization is all about. Not all businesses are alike. Industries vary, industry best practices vary and not all out-of-the-box ERP solutions will fit all organizations.

Customizing an ERP system is often a great way to get more value out of the software, but it is important to keep a few things in mind that the experts have discovered. We are reminded that progress happens fast these days and update cycles are regular. When considering a customization, find out if this is an innovation that is already on its way. Customization can increase costs, and if the feature is already in the ERP vendor’s pipeline, be patient.

Learning the features of the ERP systems you’re considering is also important. Knowing the capabilities of the available systems will allow you to choose the right company with the most appropriate solution. Once you have your solution, a sound knowledge of its capabilities will help you align the system to your current business processes. In analyzing your business processes and how they fit in with the enterprise resource planning systems structure, you may find ways to trim the fat of your processes. Should you come across incompatibilities, then you can consider options for customizing your software.

No matter what ERP solution you choose, customization is an option. Just be sure to stick to the basics. Know your business processes, explore your ERP systems options and choose the best fit for your company. This will put you on the right track to getting the greatest value from your investment.

 

 

ERP Software Companies

ERP, or Enterprise Resource Planning, is a very specialized set of software used to manage multiple business functions within a given company. ERP Software organizes the communication of business activities between departments, handles order processing, handles production scheduling, delivers orders accurately and on time, pays employees correctly, and invoices properly. Originally intended for the manufacturing industry, ERP software can now be found for practically any existing industry –from healthcare to food and beverage to law firms. In the same way, there are now ERP Software Companies selling ERP Software packages for all industries and every size of a company. In addition, there are some Software Companies that do specialize in software solutions for a distinct industry.

SAP, Oracle, and Microsoft are three of the better and best known ERP Software Companies. Each company controls more than fifteen percent of the market. Market share for ERP software is divided into small, medium, and large business as well as by industry. The SAP and Oracle software companies are prominent among large enterprises while Microsoft is known as the best for small and medium sized businesses. SAP sells ERP software for the following industries: aerospace and defense, agricultural, apparel, building products, chemical products, construction, contract manufacturing, engineering, financial services, food and beverage, government, electronic, industrial machinery, medical devices, medical supplies, non-profits, pharmaceuticals, paper, plastics, professional services, real estate, retail, telecommunications, utilities and energy, distribution of durable goods, and distribution of non-durable goods. Oracle and Microsoft sell to almost as many of these industries. For a large enterprise, implementation of an ERP Software solution from one of these vendors would range in cost from three to fifteen million dollars.

Right now, there is no data demonstrating which software companies own the largest shares of the market when the ERP software is divided by industry. In 2010, however, research showed that Microsoft had over eighty thousand customers using their ERP software for small and medium sized businesses. Epicor and Infor are two ERP software companies that market their software solutions to businesses in the mid-sized range. Combined, these two companies come close to Microsoft’s number of customers. For large enterprises, SAP controls thirty-one percent of the market and Oracle controls about twenty-five percent.

Interestingly, reports from 2010 also showed that customers who bought ERP software from smaller, lesser known companies were just as satisfied as those who bought their software systems from the top vendors.

 

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