People often use ERP as a synonym for an accounting software and vice versa. But these two software has few similarities but with different functions and features. To know why your business needs an ERP and not an accounting software lets us first look into these two software separately.
What is an ERP software?
An ERP software is an enterprise resource planning software. It is a business management software. ERP is a complete package for managing a business. It is cloud based and hence allows you to access it from anywhere. It has all the other management applications integrated in it.
It allows you to collect all the datas and accounts of your business hence it takes care of all the departments in a company. This software tracks all your expenses, raw materials, etc and keeps every department”™s details and accounts. The work progress of a project, highest selling product, profitability and highest value customer is shown graphically. It helps in maintaining the flow between all the departments and manages the relationship with the outside stakeholders as well.
It not only deals with the business and clients but also with the company functions like payrolls and tracks leave of the employees.
ERP software can manage any type of business and no matter what the size of a business is, it will customize and make it easy for you to use it for your purpose. The functions of an ERP software usually comprises of :
- Product planning
- Manufacturing delivering
- Tracking inventory, expenses etc
What is an Accounting software?
An accounting software is also a management software that keeps an account of all the cash flow, expenses, accounts payable, receivable, payroll, trial balance and tax filing. It integrates inventory management and billing. Accounting software are of two types online and offline based. Online accounting software is a better choice as you can get a backup and you can access your accounts from anywhere. Its main functions are:
- Accounts receivable
- Accounts payable
- Inventory control
- Purchase order
- Sales order
- Debt collection
Here”™s Why Your Business Needs an ERP and not an accounting software:
As we can see from the above that ERP is an entire business management tool while accounting software manages the accounts only. But ERP along with all the business managing functions includes accounting as well.
When your business gets and accounting software it needs to get other softwares along with it which do not cooperate with each other and it interrupts the flow of the business functions and processes. It gets difficult to optimize a business when there are too many software in a company.
But with an ERP software you can manage your entire business with just one software as it has all the functions required for managing all the departments. All the tools in ERP integrates with each other and as it comes in one software therefore the flow of business remains unhindered.
Reach ERP is one of the leading business management software available in the market.
It is an entire cloud based software that stores all your accounts and details in the cloud giving you high level security and backup. Reach ERP is accessible from anywhere and is also easy to operate as it customize with your business.
Reach integrates all the functions like assembling, orders, schedules, production, expenses, accounting, billing, sales, stock management etc. It is an intelligent software it predicts the outcome of your projects with the information, details collected and entered therefore you can make better decisions. It allows you to see the work progress, profitability, best sales executive, highest selling product and the highest value customer. All the updates appears in real time therefore you get to know about the business actions at the moment it happens. You can run any size of business using Reach ERP as it is meant to expand along with your business. Small, medium, large and multi location business, Reach ERP can handle it all.
The features of Reach ERP are:
- Project management
- Expense management
- Inventory management
- Bulk messaging
- Lead management
- Mobile app