Why Every Accountant Needs ERP Software

Being an accountant in today’s world is quite a bit different than what the profession looked like 20 years ago. Gone are the days of pen-and-paper, filing cabinets and briefcases—today, everything is digital. Since the transition, accountants have relied on software like Quickbooks for managing financial data, but traditional accounting software is quickly being replaced by enterprise resource planning (ERP) software, which has been used across industries for decades.

So, why is it time to drop Quickbooks and move in the direction of accounting ERP software?

Consider a few reasons:

A More Robust Option

As you might assume just by its name, accounting software serves a very specific function. It’s used primarily for dealing with traditional accounting transactions like payroll, accounts receivable & payable, trial balances etc. Some accounting software also comes bundled with modules that allow for creation of sales orders, purchase orders, timesheets, expenses and more. While these features are sometimes enough to get the job done, some accountants require additional functionality, such as the ability to track both tangible and intangible assets, marketing and human resource management and other needs. All of these can be found in ERP software, as it’s simply a much more robust option than traditional accounting software.

Enhanced Accessibility

Many accountants still use software that lives on their laptops or PCs and can only be utilized when they’re at the office. As the growing trend is for everything to go in the direction of mobile accessibility, however, localized accounting software doesn’t have much of a place in the future—it’s already outdated, actually. Today’s accountants need to be able to access their management software from a smartphone or tablet and from outside of the office, which is where the cloud comes into play. Because modern ERP software makes use of cloud technology, you don’t ever have to worry about accessing and editing important data from home, on vacation or otherwise away from your workspace.

Collaboration with Employees and Clients

One thing that traditional accounting software is incapable of allowing for is collaboration. Whether you’re looking to collaborate with employees or interns, clients/customers, vendors or otherwise, Quickbooks and other instances of accounting software simply aren’t enough to get the job done. ERP software, on the other hand, allows for easy collaboration and communication between you and the people you work closely with. Because information can be inputted by anyone on your team at any time, regardless of where they are, you can effectively avoid delays, increase turnaround time and enhance production all at the same time—with ERP software.

Airtight Security

When it comes to your clients’ financial data, there’s no getting around the fact that security matters above all else. You may think your current accounting software is enough to effectively get the job done without the risk of compromising your clients’ data, but this may not be the case. ERP software comes along with increased data security measures, reduced down time and robust server hardware—all elements that aren’t typically present with localized software. If security if top-of-mind for you and your clients, the right ERP can make all the difference in the world.

Accounting software certainly fills a role, but to say that it’s the be-all end-all for accountants would be a massive overstatement. Give ERP software a shot, and you’ll likely never turn back.