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Nobody disputes the importance of accounting software for an SMB (small to medium-size business). But there comes a time in the life any growing company when it needs to think about transitioning to a more powerful, sophisticated and flexible ERP (enterprise resource planning) software environment.
By integrating all of a company's business operations into a single software infrastructure, an ERP solution can handle a wide array of work, including general accounting, payroll, procurement, order fulfillment, HR, logistics and scores of other tasks. ERP eliminates individual computer systems in ...
It's a decision more businesses are facing: Stick with traditional finance and accounting software or pull out all the stops and commit to a full-fledged ERP (Enterprise Resource Planning) product.
A good case can be made in favor of either approach, and that makes reaching a final decision difficult. To help you choose the right financial software foundation for your business, here's an examination of the advantages and drawbacks of both technologies.
"Another manager in my business asked me to define ERP today and I didn't really have a good answer for him," Focus contributor Patrick Mills posted recently to the Focus Finance Group. "How would you guys define ERP and what does it encompass?"
"The key word is ‘enterprise' - software systems that can potentially address most, if not all, of the critical processes and functional areas in a company," replied Focus contributor Paul Sita. This varies, based on whether you are in manufacturing, distribution, services or other kinds of in...