Financial management is one of the most critical functions of any business. As such, any respectable ERP system should contain strong accounting tools. ERP systems help manage accounts payable, accounts receivable, fixed-asset management, risk management and tax management. Many systems can also manage multiple currencies and tax regulations if you regularly do business outside your country.
ERP platforms provide exceptionally robust tools to manage every aspect of sales and revenue for your business. A strong ERP system allows you to automate many accounting functions including payments processing, sales analysis, expense management and more. An ERP system improves the accuracy and processing time of the accounting functions, reducing the burden on your staff and their working hours. For an exhaustive finance capabilities list, see our accounting software requirements checklist.