What is the meaning and use of ERP finance module?
An ERP finance module gathers financial data and turns them into reports including quarterly financial statements, ledgers, profit tracking, and balance sheets.
A finance module in ERP is a central part of your business - you need to know where the money is. Your finance module should handle transactions, invoices, as well as offer reporting and revenue management across your entire business spanning all your departments, and allowing each department access to the data they need.
While it is generally accepted that some type of financial capability is needed in an ERP system, there are ranges of functionalities offered in today’s market.
ERP systems have a wide range of capabilities in all areas, and finance is not unique in that different systems will support different requirements.
When you’re validating ERP financial features for your own enterprise purposes, you should be prepared to investigate, and clearly understand these capabilities, in order to meet your specific functional requirements.
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