Recordkeeping for SMEs with an ERP

Over the course of this article, we will focus on ERP accounting for SMEs. Although this is only one of the fields that process management software works with, it's obviously one of the most important. Your company's finances have to be meticulous, something that digitisation with ERP software makes possible.

The importance of digitising finances and accounting

How important is the digital transformation of finances for SMEs? The software tools available today are able to centralise every accounting process in one place. This allows the various departments to work collaboratively, making them more efficient and agile.

Similarly, we all make mistakes when do tasks manually. And accounting is full of tedious and repetitive tasks, which leads to mistakes. In the field of finances, errors can have unforeseeable consequences that can be fatal to a company's reputation. The automation provided by digital tools not only saves time, but also reduces the chances of making an error when recording an invoice, paying a supplier or doing other processes.

The two examples we provided are just the tip of the iceberg. ERP accounting for SMEs is one of the best solutions that small and medium-sized companies have available to them right now. These powerful programs make it possible to say goodbye to paper accounts.

How do ERPs help SMEs manage their accounts and finances?

ERP accounting for SMEs is one of the characteristics of these software packages that will bring many benefits to your company. However, how exactly is an ERP used to manage finances? Let's take a brief look at some of the advantages they offer.

Say goodbye to human error

No matter what department you are in, making mistakes is not good. Even if they are more likely to be identified and corrected in some departments, a tiny fault can have major consequences in a company's accounting. Employing an ERP solution to manage finances does away completely with human error, which is so pervasive in manual processes.

Improve process efficiency

Another aspect that is improved in SMEs thanks to ERP accounting is efficiency. A company's accounting practices involves dozens of repetitive procedures. This poses a real problem for the department's productivity, since the accountants are forced to do the same task over and over again. What happens if we do away with most of these tasks?

Thanks to digital accounting, you can automate processes that are constantly repeated, such as extracting reports, creating periodic invoices and much more.

Increase your customers' satisfaction

Every customer is different. Depending on the type of business, each one could have its own specific offers or rates. When a price is agreed for a service or product, both parties expect it to be honoured. Unfortunately, without the right digital tools, it's not easy to stay up to date on all the discounts and price changes. As a result, wrong invoices or improper charges are sometimes issued.

Thanks to ERP accounting for SMEs, your customers will be more satisfied because they are always charged what is reflected in the contract. What's more, the departments involved, sales and financing, always have the same information.

Real-time financial reports

Manual and paper finances don't allow the status of the company to be analysed in real time. It takes time to prepare reports, which requires checking records and making sense of the numbers. This is a problem of the past thanks to the use of ERPs to keep accounts. In just a few clicks, you'll be able to see the status of your SME instantly.

More control to make better decisions

All the benefits that ERP accounting offers SMEs bring us to this last point. You'll have more control over your company, which will help you make fast and accurate decisions. Keep in mind that process management software isn't limited to accounting. Rather, it is a comprehensive package that supports each and every task that is carried out in the company.

SAP Business One, the leader in ERP accounting for SMEs

If you've made it this far, it's safe to say that the arguments we made have convinced you. Implementing ERP accounting software for SMEs is the perfect solution to make your business more profitable. But what are the next steps?

The first is to identify the right software for your company. We recommend SAP Business One, the leading ERP in every sector.

This tool will help you automate your business finances, do away with mistakes and simplify the account-closure process. An ERP will also help you manage various other processes, such as raw material availability and marketing campaigns.

However, to enjoy the efficiency that a winning ERP platform such as SAP Business One can provide, a second step is needed. What's that? Finding a reliable SAP provider that is always by your side. At SEIDOR, we've spent decades helping all kinds of companies to be more efficient thanks to the best software.

Contact us now! Our team of experts will advise you on how to implement the best ERP accounting for SMEs thanks to SAP Business One and SEIDOR.