Enterprise Resource Planning is known ERP has been the pillar of many Enterprises.
Now, why can’t this success stories of large Enterprises taken into consideration?
We consider this pillars of ERP Financial Management as a great success factor and we take it out to Every Business out there seeking to Grow seamlessly.
Top 3 Challenges With ERP Financial Management
High-value purchases and expenses around IT, Marketing, HR Services, Legal Fees, Utilities, and Regular Expenses like Annual Maintenance Contracts are taking place outside the ERP Financial Management systems.
It is limited or no control on the branch or department level spends.
The delegation of Authorization and Corporate Policies are challenged exposing the company to risk.
ERP Financial Management is not viably built for every employee of the organization to log on to it for requesting, approving, or fetching information.
They are built for recording post-facto transactions and processing them for Profit & Loss.
The cost alone for each licenced user would be run too high.
Purchases made outside the ERP Financial Management amount to a significant percentage of SGA expenses and the time spent managing the purchases and payments is huge because of the number of transactions.
Manual data entries are required to integrate with the ERP Financial Management.
These speeds are managed with a homegrown system or spreadsheets or email or worse – paper receipts. The accounts and finance operation remains tactical at best.
Bassam Infotech Takes You Further Than Conventional ERP Financial Management.
Bassam Infotech is an expert in ‘spend management’ that includes – expense management, travel expense management and procure to pay software, adding immense supremacy to the existing ‘ERP Financial Management system’.
We help you beyond your ERP Financial Management limitations, with an automated system that brings your stakeholders on a singular platform.
Purchase Orders (POs) can be made in a few minutes – starting from deciding which supplier, to raising the PO online and sending that to the supplier.
Bassam Infotech ‘Invoice Management software’ offers tight control into the Invoice due diligence process.
Our best in class Automated Due Diligence with Invoice Scrutinizer ensures you never lose money on wrong payments.
Expense Management Software enables approvers with email approvals knowing that Process Checklists have been checked before any invoice lands on their desk.
Get MIS reports, analysis on spend areas to improve or negotiate with vendors
Regardless of the industry, you are in – insurance, finance, projects, media, engineering, health care, manufacturing our financial control and expense management solutions help businesses save a lot of time and cost in managing their procurement, travel, and employee expenses better and it compliments your existing ERP Financial Management system.
To summarize, ERP Financial Management system is at the core of the business for many years now, but it requires the right augmentation, Bassam Infotech provides just that adding great value to your business.
Click here to talk to our ERP Financial Management Solution Expert.