As a business grows, so too do the number of systems and processes involved in its day to day running. Financial management is one area that can become more and more complex as a company evolves, and without a suitable accounting system in place, it can soon start to hamper business development.
However, there’s no need to let an inadequate accounting package hold your business back. Here we look at how the accounting capabilities of SAP Business One could revolutionise your business’s finances and drive profit.
Part of SAP Business One, SAP finance and accounting software can oversee your business’s entire financial operation. All transactional information, including online banking tasks, can be merged seamlessly, allowing you to process payments and reconciliations by card, BACS transfer or cheque.
This means that financial data from all your business activity automatically feeds into your accounts, providing a clear and true reflection of your finances at all times. Less time is spent settling accounts from different applications, for leaner and more efficient financial management.
Instant visibility and financial precision
This multi-channel integration can create a fresh and expansive perspective for your business as a whole. With the ability to view your accounts with real-time accuracy, accounting by SAP Business One can help you reveal new insights into your financial performance and identify new opportunities for growth.
Knowing you can trust the information SAP’s accounting software generates allows you to see possible cost-saving improvements and can enable you to make strategic refinements with confidence.
Flexible handling of your unique business accounts
Accounting software from SAP is powerful and responsive. Able to adapt to the developing needs of your growing business, the system makes it easy to create custom accounting charts that include cash flow and performance tracking, accounts receivable and payable and fixed assets.
As a result, potentially time-consuming and arduous jobs such as month-end close are simplified and streamlined. The software takes the leg work out of systematic accounting processes, even enabling you to allocate specific tasks to individual users or set up reminders to ensure a smooth procedure.
Freedom to deal in international markets
With different taxation rules and compliance laws in effect from country to country, trading or even just sourcing overseas can feel like a bit of a minefield.
SAP Business One is up to the challenge, with multi-currency capability and the capacity to apply any number of country-specific accounting and tax regulations to your international transactions. You are free to expand into further international markets safe in the knowledge that your accounting system can help you meet standards of compliance.
Effective budgeting and intelligent reports
Pragmatic business spending is only possible when you can monitor your budgets against an accurate picture of your accounts. With SAP’s accounting software, you can set budgets for each of your expenditures and refine them against your monthly and annual business performance.
Of course, the real power of the financial data processed by SAP Business One is only fully unlocked when it is analysed. The reporting feature allows you to drill down into your real-time accounting information and derive meaning you can use to inform your strategy and make profit-driven decisions.
What’s more, when you partner with us on SAP Business One, your business will benefit from our market-leading knowledge of the system, an approach tailor-made to your business and ongoing customer support that’s there for you 24/7. We understand all there is to know about SAP Business One, so you can be sure you’ll get the best from SAP’s accounting software with us.
If this sounds like the kind of accounting software that could help your business take control of your finances, contact us today to find out more.