FINANCE MANAGEMENT

One of the crucial factors that determine the success of financial management is the accuracy with which financial data is processed and forecasted. These data points are imperative considerations in the management’s decision making process. With a cloud based ERP software, robust, precise and conclusive analysis of financial data can be performed in a comprehensive fashion, by means of a single enterprise-wide database . According to a paper published by Allied Academics North Carolina (2019), integration of an ERP software can contribute to effective optimization and reconciliation of conflicting goals, standardization and streamlining of business processes. Establishment of any required controls to protect the financial assets of a business is also one of the key functions of an integrated ERP software.

Provision of real time information through ERP software can contribute to effective and timely decision making. According to the Fujian Institute of Financial Administrators (2016), Financial management APP can prove to be a valuable and indispensable asset for companies to successfully compete in a dynamic business environment.