Why Businesses Should Move to Cloud-Based Accounting ERP Software Systems

Many businesses have separate systems for accounting management. Depending on its size, a company may not even have Enterprise Resource Planning (ERP) software. Or, as is common, it might have acquired applications at different times and implemented each for its primary purpose: an accounting package for the books and financial management, and cloud ERP for operations management. This separation is no longer necessary, nor even a good idea.

We will outline some of the reasons it’s wise to use cloud-based ERP for accounting. At a high level, though, most of these benefits relate to one core issue, which is integration. Accounting systems require data inputs from a variety of sources. These include inventory management, warehouse management, logistics, billing, HR, etc. Cloud-based accounting ERP automatically integrates these multiple data sources.

Below are the reasons to integrate cloud ERP for accounting management. 

1.Very clear and detailed accounting reports

Standalone accounting packages offer basic financial reports like income statements, balance sheets, etc. In contrast, cloud-based accounting ERP offers many more varied types of reports. Examples include cash flow projections based on inventory management and order statuses and accounts receivable aging overlaid with customer order pipeline. These reports give you more than just financial data. They help you manage your business more effectively.

2. AR automation

Automation helps with productivity. By having cloud-based accounting ERP, it’s easier to automate workflows that cross between the two systems. When you use cloud ERP for accounting, many accounting and financial tasks can be completely automated. For instance, you can streamline accounts receivable and accounts payable management, and cash management. Automation also lets you track financial transactions more quickly.

3. Escape from duplicate data entry

Having separate systems usually means manual re-inputting of data from one to the other. Integrating cloud ERP in accounting systems removes many tedious processes of data entry by hand. Cloud ERP makes data entry fast and consistent.

4. Free from calculation errors

Manual data entry is notoriously prone to error. These include transposed digits and incorrect client names. These can cause calculation mistakes, which then take time to unwind. You can also see who did what, for each transaction, in case you need to track down who made the error.

5. Get complete control

Using cloud ERP for accounting gives you more control over your business. You can see the bottom-line impact of events and decisions in real-time. 

If you want to know how accounting cloud ERP can help run businesses better, talk to the experts. Averiware provides an adaptable, feature-rich, and integrated cloud-based enterprise resource planning software that streamlines your business processes and facilitates your decisions.

The core of your cloud ERP, Averiware delivers powerful accounting cloud ERP software that is simple enough for small businesses and comprehensive enough for complex multinationals. It can support your needs today and in the future.

Book a free demo of Averiware accounting cloud ERP software!