Integrating Financial and Accounting Data – A Company’s Efficient Management
5 Pages Posted: 12 May 2010 Last revised: 23 Oct 2010
Date Written: May 7, 2010
The increasingly competitive business environment, the rapid changes and also the increase in the activities’ complexity within a company require permanent adjustment in a quick manner. ERP have been created as a solution or a response to such attempts, and have the ability to process a high amount of aggregated data and information in order to improve processes and make them even more efficient. Most specialists believe that there is no Enterprise Resource Planning without any financial and accounting information in the operations they administer in these systems.
A financial-accounting pattern gathers and strengthens information related to all the activities of a company thus allowing unitary management to be possible. A financial-accounting pattern itself is not the most important but it is necessary when implementing any ERP application. All the data in a system are centralized in such a financial-accounting pattern, therefore providing the support for various reports.
Keywords: Enterprise Resource Planning (ERP), management system, financial and accounting information
JEL Classification: M29, M49
Suggested Citation: Suggested Citation