CFO: what are the advantages of an ERP for the finance function?

Optimize and automate company processes, have a quick and synthetic vision of projects, have a better sharing of information internally or increase productivity and improve decision making, the advantages of an ERP software for a company are numerous. The finance function occupies a key position in an ERP project. It is often at the heart of the challenges of implementing such a project.

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Why is ERP integration essential for the finance function?

With the global economic environment changing rapidly and regulations becoming more sophisticated, the finance function needs to consolidate its financial management processes more rigorously with the help of digital technology.

Indeed, the success of its work depends on its ability to put in place flexible and controlled procedures and systems to support management decision making.

To this end, ERP solutions for the finance function integrate an information and management system that helps simplify the complexity of data and establish predictive analyses. Overall, the benefits of an ERP system help to increase the overall performance of the company.

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Automation for better data reliability and quality

By integrating an ERP, CFOs have all the data in real time, much of which is automated without having to re-enter the information. Automation therefore increases productivity and allows employees to have more time for analysis and control.

It also reduces errors and duplication of effort by providing a single operating base for all. The automation of processes therefore brings operational efficiency to administrative and financial management, thanks to the acceleration of processing and information generated automatically in real-time reports.

The data, having gained in reliability, is more easily and quickly exploitable by the Management and the Managers. The ERP solution is a factor in improving the productivity and performance of companies.

 

Benefits of an ERP: better management of units and services

The main advantage of an ERP is the implementation of a centralized information system. It allows to obtain a traceability of data and to offer to the company better tools, fast and reliable, allocated to the decision making.

Indeed, the management of the processes being optimized, the flow of economic and financial data gains in visibility and can be treated more easily. In addition, the ERP information system facilitates the management of numerous entities that are geographically dispersed.

This centralization of data makes it possible to standardize human resources and can offer better collaboration between entities and departments of the company. The management of flows becomes more coherent and supports the management of each department. As for the finance function, the implementation of this centralization guarantees the homogeneity and quality of information. Finally, the implementation of a financial repository facilitates processing and accelerates processes.

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