ERP for Financial Sector: How can ERP increase productivity
Financial Sector deals with mutual funds, stocks, equity, investments, etc. The main purpose for a finance company is to increase the profits of the company and client so that they have a mutually beneficial relationship. To increase profits does not only mean to have more sales and customer acquisition. Profits also means having a seamless operation and process workflow which can help reduce costs and increase the turnaround time.
Since in a financial sector, opportunities rise and transactions happen in a blink of an eye, it goes without saying that the company needs to be on its toes to maintain all the customer and transaction data. To increase the productivity of the company, the management needs to have a single information portal for all level of processes which allow the user to simplify and export reports, tracking, analysis, automated expense management and monitoring productivity goals.
In financial sectors, when a regular task or process is performed manually or through software platforms that lack integration, it consumes hundreds of hours of the staff time and may result in data duplicity. This can result in labor intensive processes to reconcile and correct mistakes in the huge amount of data generated on a daily basis.
However, ERP for financial industry offers full data integration, ensuring accuracy, access and reports, all of which are available in real time. The immediacy of the Sage ERP’s data management functionality sets it apart from other software solutions.
Benefits of ERP for Financial Sector:
The greatest advantage of Sage ERP integration and data management capability for financial sector is immediate increased productivity. Sage ERP integrates and manages all data which simplifies operations and increased productivity result in a better profit margins, improved customer and moreover, improved partner relations.
By utilizing the power, ease and functionality that ERP offers, banks can streamline all their operations, from the customer counter to the corporate level and beyond, ensuring consistent performance and exceptional operational efficiency.
Reports & Tracking:
Sage ERP for financial sector offers multiple solutions so that financial sectors can easily collect, generate and interpret data, as well as generate accurate reports for a variety of data points. Users can also access and explore the data in real time. This allows banks to track financial data, products, staff and investments and provides institutions with the information and tools that they require to make fully informed decisions.
Integration and Analysis:
Sage ERP for financial sector maximizes integration across operations and organizational roles, creating a single, accurate port of data and communication for managers, employees, customers and partners. This, in turn, makes it easy to access relevant data using ERP’s finance module that is comprised by a number of specialized modules, such as accounts payable, accounts receivable, reconciliation, general ledger, billing and payroll that gathers financial data and generates reports such as ledgers, trail balance data, overall balance sheets and quarterly financial statements.
Sage ERP maximizes the productivity of management, human resources, payroll and internal accounting, increasing speed, reducing the potential for errors and automating a variety of tasks. To know more about how can ERP for Financial Sector improve your company’s profitability, SMS SAGE to 56767 or write to Sage Software Solutions Pvt Ltd at email@example.com
Originally published at www.sagesoftware.co.in on December 23, 2015.