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QuickBooks meets the need of the hour for small businesses since it offers basic accounting at an affordable price. This accounting software is also user-friendly, making it ideal for startups. But as your business grows, QuickBooks becomes limiting because it is not designed for other processes apart from financials.
A healthy cash flow rate is essential for any business to thrive and outdo competitors. Sufficient liquidity allows you to cover the costs of running your company, pay debts, and allocate resources to areas that will ensure the growth of your enterprise. Unfortunately, maintaining cash inflows can be challenging for many companies and is one of the leading causes of the collapse of startup businesses.
A lot of companies silo their accounting and enterprise resource planning (ERP) systems in ways that keep them separated. Depending on the size of your business, you may not even have an ERP system implemented within your organization, but hopefully after you read this article, your feelings about this will change. You see, the primary purpose of ERP systems is to both assist accounting with the books and help your finance team with reports and monetary monitoring, while simultaneously keeping the rest of your organization’s workflow running smoothly. Great ERP systems incorporate both accounting and finance functions (as well as other departments’ responsibilities), facilitating an overall ease and flow to your operations management processes.
When you’re in the process of selecting a new enterprise resource planning (ERP) solution, there are a lot of factors that need to be considered. You should be looking at your business’s potential growth and thinking about the people who will be overseeing the processes held within the system. It’s vital to take on a bit of due diligence as you decide which systems will work best for you and which processes you’re trying to aid during the evaluation activities.
When you’re trying to find the right ERP system for your business, you’re faced with a lot of decisions. Which brand is best for you? How much should you pay? If you’re considering investing in an ERP, you’re probably interested in integrating the most important parts of your business so you can bring together planning, purchasing, inventory, sales, marketing, finance, and human resources. On paper, this sounds great, but how do you go about doing this in real life?
Changes in buyer purchasing patterns picked up steam as the pandemic raged in 2020. As a result, retailers need a modern financial solution, one that is flexible and supports technologies, like cloud, mobile, or even curbside pickup. In response, the Acumatica team has been working diligently to enhance their Cloud ERP suite, so it surpasses these market demands with the release of Acumatica 2021 R1.
Acumatica Cloud ERP software is one of the leading ERP softwares on the market today because of how it adapts and scales with your business.
Whether you're all in on the cloud or looking to work in a slightly less-connected landscape, Acumatica offers the deployment flexibility you want and need. As one of the few (or only) players offering the choice to deploy in the cloud, on-premises, or in a private environment, these can affect you differently.
2020 was a tough year for retailers—at least those with a traditional brick-and mortar footprint. Capacity limitations and a continued push by Amazon left many traditional spaces fighting for their lives. But 2021 is here. Shots are going into arms, lockdowns are being lifted, and the busy seasons are coming up. But to succeed, retail executives will need to have customer information, supply chains, and planning initiatives perfected.