Don’t settle for second best when it comes to cloud accounting software

ERP solutions like SAP Business One can offer a number of benefits that accounting software struggles to compete with.

work-2005640_960_720 In the early development stages of every new business, adoption of financial tools and services are a necessity. Accounting software not only gives companies the ability to track their payables and receivables, but it also enables them to create general ledgers and financial reporting that’s essential for their scalability. However, as businesses reach a certain level of growth, it’s common to consider if it may be worth investing in full-featured business solutions.

ERP (Enterprise Resource Planning) solutions like SAP Business One can be the next gradual step for companies as they outgrow their current accounting systems. However, there is a common misunderstanding that due to their complexity, solutions like these can be a costly investment that may be unaffordable for smaller businesses.

The truth is, cloud-based enterprise tools like SAP Business One can help to streamline operational functions and reduce financial burdens.

Here are a few considerations to take when comparing your current accounting software with an ERP solution and the affordability of transitioning.

Capturing and Accessing Business Information

To get a better understanding of the cost and value of an ERP integration, it’s first important to consider how it differs from dedicated accounting software. Software solutions like QuickBooks, MYOB and Xero are all tailored to accounting departments and their day-to-day processes. As the name implies, SAP “Business” One is designed to care for all the growing needs of a business and each department that makes it up. This broad focus enables businesses to capture and access all of their business information, including finances, under one umbrella, rather than having their financial information “siloed” in a separate package.

Maximising Your Operational Efficiency

When scaling your business, cost management should be a primary concern as you grow your infrastructure. Being able to control spending, lower IT costs and maximise other operational efficiencies is critical when planning the future of your business. The fact is, simple accounting software isn‘t designed to provide the insight necessary to manage this all effectively.

When handling accounting processes separately from production planning, inventory management and CRM, inadequacies in reporting and decision making quickly surface and the organisation suffers. SAP Business One not only manages and automates all accounting procedures effectively, but it also does so while connecting the dots between other critical aspects of the business.

Choosing a Modular vs. Non-Modular Cost Structure

The perceived cost of implementation is one of the largest deterrents of switching over to an ERP solution. Due to their complexity, many people assume that solutions like SAP Business are difficult to integrate and costly to manage - this couldn’t be further from the truth. In fact, even smaller businesses can benefit financially from adopting enterprise solutions early in their life cycle.

The great thing about SAP Business One is that it is available in a cloud-based environment. What does this mean? It means that rather than investing in a costly on-premise solution that requires specific infrastructures to support, SAP Business is modular in its design allowing it support the company as it grows, not the other way around. While accounting software typically comes in an out-of-the-box solution, SAP Business One is completely customisable, both in its purpose and design as well the number of users it’s intended for. This flexibility gives smaller companies the opportunity to upgrade their current systems while staying within budget.

Businesses should never feel like they need to settle for second best when managing their accounting processes. Cloud-based solutions like SAP Business One are not only affordable for companies of all shapes and sizes, but they also help to significantly improve operational efficiency and create a more sustainable business environment.