What is ERP Accounting Software And Why Do You Need It?
ERP accounting software is software that enables the organization to keep tabs on financial transactions and data. However, ERP accounting software goes beyond the accounting process core. Enterprise accounting software comprises modules specific to billing and payroll, account receivable, accounts payable, general ledger, and more. Historically, enterprise accounting has been a solution that was installed locally, but with modern-day technology, these solutions can be cloud-based.
Some key features of ERP accounting software's main functions include:
- Billing & Invoicing
- Budget & Forecasting
- Fixed Assets
- Payroll
- Inventory Management
Accounting vs. ERP Accounting
As the world becomes more complex with technological advances, customer expectations for product personalization and data management is increasing. Software that supports operational efficiency of core business processes is absolutely essential. Organizations also require relevant features that serve the dynamics of industry-specific needs and challenges. This also applies to stand-alone accounting and financial management software as they fulfill only limited needs when compared to an end-to end ERP solution. Organizations like to erroneously use the terms accounting software and ERP software interchangeably. In realty though, accounting and financial reporting software is a subset of an ERP system.
- ERP systems are more versatile
- Stand-alone Accounting Software is not built for industry-specific needs
- Accounting Software & ERP solutions are not always GAAP compliant
- Accounting Software does not include sales or customer relationship management (CRM)
Small Business ERP
Benefits of using ERP accounting software include automation, visibility, cross-departmental collaboration, and streamlined processes. Enterprise accounting is set up to address the concerns of small business owners. This includes developing talent in the finance organization, providing inputs into enterprise strategy, and measuring or monitoring business performance. This is particular the case in ERP for small businesses. ERP for small businesses offers better financial control and management.
Financial control software also provides businesses with a full suite of accounting functions to track daily financial operations and generate quarterly and annual financial statements. In addition, enterprise accounting software provides tools for reporting, analysis, budgeting, and planning. ERP for small businesses are designed to make financial control and management easier, while still maintaining reliability even in the most complex organizational situations. Enterprise account software, like Acumatica's, provides users with a feature-rich accounting suite, fully integrated with Acumatica's Customer Management, Distribution Management, Manufacturing Management, Field Services Management, and Project Accounting product suites.
- Ease of Use
- Security
- Mobile Access
- Customization
- Integrated Modules
QuickBooks is Not Enough
Nearly every business uses accounting and financial management software. So, how is ERP accounting software better than stand-alone accounting software? Not long ago, QuickBooks, Sage, and Dynamics GP were undisputed accounting software leaders for small to mid-size businesses. As businesses faced stronger competition and their customers expected faster turn around times and more customization, the needs for ERP software became glaringly obvious.
The use of a stand-alone accounting software, like QuickBooks, can take care of basic accounting functions, banking and limited reporting. However, the standard packages that small and mid-size businesses have used for years, lack the ability to forecast the future. For example, QuickBooks, cannot scale with your company's growth because it only operates on a proprietary database. Such stand-alone solutions were not built to connect company-wide processes and deliver real-time visibility into the status of those processes. As a result, you end up with silos of data that cant provide a transparent and complete picture of your business operations.
The Future of ERP Accounting Software
ERP is increasingly making up a huge part of accounting software products today. Most new products in this category are ERP, as more businesses demand better integration of their operations. Furthermore, businesses are more integrated globally. This is a situation that an ERP software can address better than a stand-alone accounting solution. Granted, the term "accounting software" won't be forgotten easily, however, users have grown accustomed to using it for years. In short, accounting software and ERP solutions may mean the same thing sooner than later, when both systems are sold as a multi-tier bundle rather than two separate products.
To learn more about ERP and accounting and if it’s the right step for your business, speak with one of our experts! You can reach us at +1 818-484-5004 or email us at sales@biz-techservices.com. Additionally, you can check out our Acumatica General Business Edition page to learn more.
eCommerce ERP Integration Solutions Your Business Needs
What is eCommerce ERP Integration?
eCommerce ERP integration is the coordination between a company's eCommerce site and back-end accounting and inventory system. Proper eCommerce ERP integration enables the flow of information bidirectionally between the two systems, meaning data only needs to be entered into the system once. Integration of your eCommerce sales channels with your ERP system allows you to operate more efficiently as a business. Your main types of data - order, inventory, item, customer, shipping, and tracking - are communicated between your once independent systems. Typically, eCommerce ERP integration automatically passes data between your systems, so this eliminates your need to manually enter data from one system to another. While eCommerce sales channels can operate without connections to an ERP, how many tedious practices do you do now that you wish you could get rid of?
Benefits of eCommerce ERP Integration
- Streamline Inventory Synchronization
- Reduce Manual Data Entry
- Auto-Notify Shipping & Tracking Information
- Increased Efficiency
- Cost Effectiveness
Shopify Connector
Our Shopify connector is an integration link for two platforms - Shopify's eCommerce system and Acumatica's Cloud ERP. Not only does this ERP connector work with Acumatica, but is also fully compatible with Sage 100cloud. This Shopify integration supplies all the tools your business needs to improve its order processing strategy, simplify inventory management, pricing, payment, and streamline logistics processes. Bilateral synchronization makes it possible to manage orders in Acumatica and mark them fulfilled in the Shopify integration system automatically. Using our Shopify integration allows for better time management and facilitation of connections between the platform. Biz-Tech's Shopify connector is an essential business productivity tool you need to grow your business, boost your results and help save time and money․
- Simplify Data Flow
- Reduce Order Processing Costs
- Automate Tax Compliance
- Eliminate Manual Entry Errors
- Improve Stability
- Ease Payment Information Handling
Magento Connector
Biz-Tech's Magento connector solution allows companies to easily connect with Magento's eCommerce system and either Acumatica or Sage100's ERP system. This Magento connector makes it possible to link two platforms through bidirectional data synchronization which helps avoid duplicate entries and eliminate errors. The Magento connector facilitates the management of all eCommerce activities such as getting and importing orders, creating shipments, invoices, and credit memos. With the Magento integration in place, automate all eCommerce activities to improve productivity and see results.
- Automate Synchronization
- Eliminate Errors & Duplicate Entries
- Ease of Data Flow
- Simplify Payment Information Handling
- Reduce Processing Costs
- Easily Access Order Information
WooCommerce Connector
The WooCommerce connector is an integration link between the WordPress eCommerce platform and Acumatica's ERP platform. This WooCommerce integration supplies tools to improve order processing, simplify inventory management, pricing, payment and streamline logistics processes. Using our WooCommerce integration will allow for better time management and the facilitation of connections between WooCommerce, WordPress and Acumatica.
- Simplify Data Flow
- Reduce Processing Costs
- Tax Compliance & Tax Regulations
- Eliminate Errors
- Ease of Data Handling
- Improved Stability
CommerceHub Connector
Our CommerceHub connector allows companies to integrate with the industry's leading provider of supply chain solutions for multi-channel eCommerce merchants. The CommerceHub connector provides seamless integration for any organization to connect all their trading partners by securely exchanging documents via FTP. Easy to set up integration mappings and automated workflows can help businesses streamline their processes.
- No Manual Data Entry
- Automated Import & Export Functionality
- Cross-Reference Functionality
- Send Fulfillment Confirmations
- Sync Inventories
- Send PO Acknowledgements
- Import Purchase Orders
Biz-Tech Solutions
At Biz-Tech Services, we offer Acumatica and Sage eCommerce connectors compatible with Shopify, Magento, CommerceHub and WooCommerce. All of our connectors offer seamless eCommerce integration to your webstore. We are proud development partners with Acumatica and Sage and are committed to supplying your business with the correct tools needed for success.
Feel free to give us a call at (818) 484-5004, e-mail us at sales@biz-techservices.com, contact us here or fill out the form below to get started today!
