Enterprise resource planning (ERP) systems offer an integrated suite of business applications for automating a wide range of back-office functions, such as accounting, document management, assessing corporate needs, and handling relationships with customers.
Today’s fast-changing corporate IT environment is increasingly demanding, especially when it comes to technological capabilities. For example, all but the smallest of businesses need a way to effectively manage their documents and data and disaster-recovery routines. That’s why ERP exists to improve performance and efficiency and provide key performance insights to help your business grow.
For businesses operating in multiple locations, the administrative and management challenges increase exponentially. For starters, there’s the need to make sure that data, such as customer contact information and accounting records, stay consistent across all departments and branches. With that in mind, let’s look at some of the biggest challenges that such organizations face and how migrating to a cloud-based solution like Intacct ERP can help.
Working with Multiple Languages and Currencies
The world might be getting smaller all the time, but that doesn’t mean doing business is the same everywhere. The advent of cloud computing and online collaboration has enabled even small businesses to set their eyes on global marketplaces, but a global view toward corporate expansion also requires a sophisticated IT infrastructure. For example, local branches need to consider things like state-specific regulations, while companies doing business abroad also need to factor in currencies and languages.
Intacct ERP is built with global ambitions in mind to help you meet the challenges of working with clients and partners in countries with different regulations, currencies and languages. As a cloud-based system, Intacct ERP helps your business keep track of incremental changes in exchange rates, manage international transactions, and consolidate financial information across branches in minutes, giving you the ability to remain competitive in a global marketplace.
Keeping Track of Your Financial Data and Insights
Even if you primarily serve customers in the US, operating multiple locations even in the same state is a challenge when it comes to keeping track of financial matters. To ensure that your head office always has complete visibility into the overall financial position of your organization, you need to take a consistent and integrated approach toward filing data. By contrast, if you use different systems in different branches, the data you rely on to run your business will be fragmented and inconsistent.
With Intacct ERP on your side, you’ll have a centralized system for automating your core financials, thereby reducing your reliance on inefficient, error-prone spreadsheets. The result is a highly scalable accounting environment complete with insightful financial reports that help you identify new opportunities and areas in need of improvement.
Improving Communication Between Branches
Communication remains the biggest challenge that expanding businesses face. That’s why traditional, desktop-based accounting solutions have fallen out of favor among multiple-location organizations. By moving your operations to the cloud, employees working for local branches will have access to the same information no matter where they are. That means better communication between departments and less time spent trying to find records and keep track of the financial insights.
As a fully cloud-enabled system, Intacct ERP connects everyone in your organization with a fully collaborative computing environment. No longer will staff be wasting time sending emails back just to coordinate with coworkers and get access to the data they need to carry out their work. Instead, you can bring your team together by using a single cloud-hosted platform that everyone will be trained to use.
There’s simply no better way to consolidate mission-critical data than by migrating to the cloud. With WhiteOwl’s Intacct ERP implementations, your business will operate more efficiently and be able to effortlessly scale its systems as demand requires. Call us today if you’re ready to experience that difference.