The increasing integration and inter-operability of business and accounting software packages is taking a lot of the guesswork out of quarterly and annual business reviews while also ensuring that key people within an organisation are kept informed of activities that impact on their areas of responsibility.
Jaco Havenga, manager at business and accounting software reseller and solutions provider Lorge, says interoperability, or end-to-end enablement, is taking the role of software into a new dimension as a strategic business tool.
“Today, add-on modules to a core accounting package such as Accpac ensure business-critical information is quickly disseminated to key people in an organisation who can use it to the company`s advantage.”
One of the Accpac modules, Insight, is a business intelligence tool that extracts information from the central accounting package and displays it in easy-to-read Excel analysis reports that assist with budgeting, forecasting and consolidations. It also streamlines the collection, consolidation and reporting of financial and non-financial data.
Havenga says the improved operational efficiency achieved through Insight shortens consolidation and reporting cycles, providing more time for in-depth analysis. “It creates an environment in which management can make more informed decisions quickly and respond to changing business conditions by ensuring key personnel always have the data they require.”
Accpac CFO (comprehensive financial optimiser) is a module that provides powerful financial diagnostics for accurate business planning with goal-seeking and “what if” scenario analysis to identify in advance the down the line impacts of business decisions.
“The module allows a business to analyse planned actions. The accounts may indicate that to achieve year-end targets, an increase in net profit from 5% to 8% is required. The CFO software will indicate what elements have to change within the business to achieve that goal. In a nutshell, the program helps management to understand the financial implications of any decision that may be taken.”
Another module becoming increasingly critical to modern business is CRM, which Havenga says promotes better business practices and slick exchange of information throughout the organisation. Sales, marketing and customer care activities can be quickly analysed, managed and synchronised across all points of contact.
“The CRM software will run and manage campaigns to increase sales revenue. Quotations can be generated in CRM and filed automatically in Accpac all the way through to a confirmed order. Customer-specific accounting information can be viewed at a mouse click with information such as last purchase type and date, payments made, payments outstanding, recurrent orders and other key indicators.”
Quick notification of changes in business conditions and critical indicators also assists management to make appropriate and timely decisions, no matter where they may be. Havenga says the Accpac Alerts module provides an efficient and flexible notification solution, sending critical information by email, SMS, telefax or pre-selected printer hard copy. It can be configured to provide instant notification to the appropriate member of the management team if any critical business indicators rise or fall against pre-determined limits.
Key financial information can be notified to the CEO, or CFO or both. Significant credit limit changes would be notified to the credit manager and important sales data to the sales manager.
Another component of end-to-end business enablement is a warehouse management module that automates and controls stock and the logistical steps from order receipt right through to delivery to the customer, with all components fully integrated into the total financial software solution.
“Modern business is conducted at pace and the immediate availability of critical information often makes the difference between success and failure,” says Havenga. “The ability of accounting software to integrate with specialist financial modules to provide timely information can provide any business with a significant competitive advantage.”
Issued by: Copywise
Lorge is the preferred supplier and implementer of mid-market business and technology solutions. A deep pool of experience and skills accumulated over 19 years ideally places Lorge to provide independent and consistent expertise in the implementation, development, support and maintenance of business and accounting software systems. Innovative solutions that provide businesses with strategic and competitive advantage are designed and implemented throughout southern Africa.
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