Codestone

Category: Accounting and financial software

Enterprise resource planning (ERP) software can be used by small and medium-sized enterprises (SMEs) to improve their accounting operations, it has been suggested.

Writing for MSN, Dan Briody has claimed companies that implement financial platforms, such as SAP Business One, can see a number of benefits.

Concerning firms of this size, the industry commentator said: "Working a full-on enterprise resource planning system with integrated global inventory data and real-time reporting? You’ve arrived."

The technology will allow multiple users to affect the data as the system will be networked throughout the business, while the payroll, inventory and asset tracking will also be integrated into the application, he observed.

Mr Briody added the systems might enable the user to utilise multiple currencies and handle integrated e-commerce.

It recently emerged Midlands Co-op is undergoing a three-phase ERP project, with one of the aims of the rollout being an improvement in its accounts payable processes and streamlined invoice matching.

Posted by Shannon Wells