Enterprise Resource Planning – The Secret To A Great Bottom Line
When integrated successfully, ERP software is an asset to every industry, especially in finance and banking.
Enterprise Resource Planning (ERP) software has the almost magical (but not really, there’s a formula to this, we promise) ability to turn endless reams of seemingly disparate data from across multiple departments in an organisation into a single, perfect whole. Not only does this allow users to know exactly what’s happening in the company and where, but it also streamlines communication and collaboration between each department, so they can work more effectively together.
It’s long been lifesaver in the manufacturing and distribution industries for the reasons outlined above, but ERP works equally well in the hospitality, health care and construction industries too. There’s no reason why banking and finance shouldn’t be reaping the benefits.
Focus on financial management
As an essential component of every ERP solution, the financial management module really comes into its own within the banking and finance industries. Not only does it offer the ability to track financial data across all departments within a company, it can also be customised to track and collate data in various languages and currencies – which makes operating globally that much easier.
ERP financial management modules are also invaluable when it comes to ensuring important admin like the creation of financial reports, generating statements and account management can be done automatically and with consistency. This helps take care of costly mistakes and human error made during manual inputs, not to mention stay compliant with regulations. Which is a must for all, but especially for those in the finance and banking industries.
BC Xpress from Braintree features the core operational and financial functionalities of Microsoft Dynamics 365 Business Central. It offers basic configurations for general ledgers, accounts receivable and payable as well as automatic account reconciliation to maintain compliance when reporting that seamlessly integrates with Excel.
Having access to this type of information across all departments also makes it easier to streamline processes, increase collaboration and gain a greater understanding not only of the financial health of the company, but the opportunities for growth too.
Adapt with ease
Agility is all-important in today’s working world. Having immediate access to accurate business information in real time is the best way to measure, evaluate and respond to an ever-changing business environment. ERP software offers that and more, when hosted in the cloud, this information is made available any time, anywhere via any connected device.
Hosted in the cloud in Microsoft servers, BC Xpress ensures essential information is always available whether you’re sitting at your desk or on the road with a laptop or tablet. Because time will always be money, BC Xpress has been designed to deploy in as little as eight days and includes 12 post go-live support incidents for smooth sailing.
A window into the financial health of your company in real time from wherever you happen to be is invaluable, really. It’s even better when you can distil that data into neat, easily digestible reports via customisable dashboards. BC Xpress includes a full Power BI start kit for that purpose as well as various Excel templates to cater for importing master data, opening balances for the general ledger and inventory.
With ERP software, finance and banking can abandon time-consuming, error-prone manual practices in favour of streamlined, automated data capturing to reduce their overhead costs and make key financial decisions in real time. What could be more important than that?