Essential Features of a Modern Accounting System
Accounting systems are not something you change or replace very often. However, as your organization grows in size or complexity, you will reach a point where manual processes are draining your productivity and you struggle to analyze the growing range of your financial and operating data. You’ll need a better way to handle accounting within your organization. You’ll need to modernize your system.
At a minimum, a modern accounting system should automate and streamline core financial management functions such as:
- Accounts receivable (order to cash)
- Accounts payable (procure to payment)
- Financial close
- Time and expense capture
- Fund accounting
- Project accounting
- Revenue recognition and management
But you will hardly be able to fuel your growth by simply automating the minimum. For a list of essential attributes you should look for, please download this whitepaper now by filling out the form.