As your business grows, managing inventory, finances and cost accounting can become very complicated. Enterprise resource planning software is an effective way of centralizing and managing important data, helping to improve efficiency as the list of clients and personnel grows. Business accounting systems are essential tools that help your accounting and finance departments track progress while meeting any regulations. It is wise for a CFO of a growing company to investigate the benefits of ERP software, as it's a major improvement from spreadsheets or legacy software. 

More businesses are adopting ERP business management software systems. This software helps in every part of a business's operations, including financials. Every CFO should be taking a hard look at his or her legacy system, because ERP software has so much more to offer. 

Revenue growth
Business management software such as ERP systems allow a CFO to access real-time financial data. This real-time information is crucial to the decision-making process. A CFO that has the most up-to-date information can see trends forming as they develop, and can take educated risks when necessary. This information also helps to strengthen forecasting, while monitoring expenditures. 

Regulatory changes
Financial record-keeping can suffer when departments maintain silos. ERP software grants CFOs full access to every department, allowing them to monitor accounting practices at every level. ERP systems also help accounting teams keep track of new standards and procedures so they can always remain compliant. 

Job costing
Business accounting systems that can accurately track all of the costs incurred will help the manufacturing company operate more efficiently. At the heart of the matter is the ability to report costs and returns on investment, and ERP job costing solutions make this easier. 

Data consolidation
Manufacturing accounting software helps to consolidate data from every corner of the business. This gives the CFO a big picture view of any new trends in the industry, as well as the overall health of the company. 

Automation
One of the major benefits of an ERP system is the automation of repetitive tasks. Many invoices that would normally be completed manually can be completed automatically through the software. This benefits the team on many fronts because workers are freed up for more pressing work. The automation also reduces the chances of human error, which improves data integrity. 

At Accent Software, we work with growing manufacturers to implement Microsoft business software, helping them reduce costs to achieve a competitive advantage. This software offers vast improvements over legacy systems, helping to boost efficiency, transparency and data integrity. If your legacy system isn't cutting it, contact us to see how a sophisticated ERP program can make a difference.