7 Benefits of Using a Built-in Accounting Module in Your ERP System
One of the most common questions we get from clients, whether they are rolling out an enterprise resource planning (ERP) system for the first time, or upgrading to a completely new system, is whether or not they should stick with their current accounting software once they have MIE Trak Pro up and running. While there is no right or wrong answer, there are definitely factors to consider when making this decision.
Benefits of Built-In ERP Accounting Modules: Save Time, Save Money
There are many benefits of utilizing a built-in ERP accounting module, but one that we’ve found to be particularly compelling to our customers right from the start is the cost savings. Using what’s already included in MIE Trak Pro means paying for one software program instead of two. Accounting software such as QuickBooks for enterprise-level companies can cost thousands of dollars a year. Consolidating everything under an ERP means less money spent on something that is ultimately redundant.
Another important benefit of ERP-based accounting is that it can save time—and therefore, money—across multiple departments. It does this in several ways.
It eliminates duplicate entry of the same data into two different programs.
It cuts down on errors by consolidating information from every area of the company into one program, which allows important data to be viewed in one place, so less time is wasted correcting issues.
It automates many aspects of financial reporting as the software is already integrated with all other related areas of the business and data can be pulled directly without human intervention.
More Benefits to Using a Built-In ERP Accounting Module
Beyond decreasing costs and increasing productivity, built-in ERP accounting modules offer many other benefits, including:
Detailed financial reporting. This feature goes beyond the basic features offered by most standard accounting software packages. One example is the ability to generate customized statements on demand.
Multi-divisional accounting capabilities. This is highly beneficial for manufacturers operating more than one facility or location. While many ERPs claim to be multi-divisional, MIE Trak Pro is one of the few that actually is.
Real-time forecasted cash flow. This makes it easy to understand the financial health of the company at a glance (In fact, many MIE Trak Pro customers love this feature so much they use it daily—sometimes more!).
User-friendliness. A solid ERP system will have been designed to be user-friendly from the start, and the accounting module should be no different. Customer-centric companies, like MIE Solutions, also have accounting specialists that are readily available to help train staff on the accounting module, getting them up to speed in no time.
ERP Accounting Modules: Streamlining Financials for Manufacturers
Where there are many benefits to using a built-in ERP accounting module, how strongly each factor is weighted in the decision making process depends very much on the company implementing the ERP software. MIE Solutions offers our customers guidance at every step of the implementation process, from purchase to deployment, including expert advice and assistance when choosing to move or consolidate accounting processes from separate software to their ERP accounting module.
Want to learn more about the benefits of MIE Trak Pro accounting for manufacturers? Contact us today!