Enterprise Resource Planning (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.
This is limited hence no control of the branch/ department level spends.
Also, the delegation in Authorization and Corporate Policies are challenged exposing the company to risk.
ERP Financial Management viably built for all employees in the organization, and also for requesting, approving, or fetching information is not the case.
They are built for recording post-facto transactions and processing them for Profit & Loss.
The cost for every licenced user may 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. Therefore Manual data entries required to integrate with ERP Financial Management.
These speeds managed with a homegrown system, spreadsheets or paper receipts and 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:
Travel expense management
Procure to pay software
Adding immense supremacy to the existing ‘ERP Financial Management system’.
ERP Financial Management @ It’s Best
We help you beyond your ERP Financial Management limitations. Also, 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 approver with email approval knowing Process Checklists, checked before any invoice lands on their desk.
Analysis of spend areas to improve or negotiate with ERP vendors Regardless of the industry you are in. Whereas it is insurance, finance, projects, media, engineering, healthcare, manufacturing. Thus, our financial control and expense management solutions help businesses save a lot of time. Also, cost reduction 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.