As businesses scale and evolve, many begin to look for technology solutions that can help transform the way the organization operates. From overcoming challenges with reporting and gaining access to real-time insight, to automating manual processes and streamlining workflows, business technology solutions make life easier. Here’s a deeper look into 5 financial and operational management technology solutions that can transform your operations and help your business achieve growth:

1. Advanced Financial Management Software

As your business grows, financial management tools will empower your finance and accounting teams to better support and deliver business growth. With a financial management software, your organization can easily meet the challenges associated with consolidating, streamlining processes, and ensuring compliance amid changing regulations.

Take advantage of powerful automations to streamline complex processes and improve workflows. Benefit from real-time insight into core financials in order to gain complete visibility into your entire organization. Additionally, cloud based solutions like Sage Intacct, provide your organization with enhanced flexibility so you can promote collaboration and increase productivity throughout your organization.

2. Enterprise Resource Planning Software (ERP Software)

Taking a centralized approach to managing business processes, Enterprise Resource Planning software (ERP Software) allows organizations to integrate all processes across business functions. This enables organizations to track assets like financial resources, work hours, and materials that are needed to manage and run daily operations.

Systems like Epicor ERP have combined functions like inventory management, product planning, sales and marketing, HR, accounting, CRM, and more; making the platform ideal for manufacturers and distributors. This technology solution breaks downs barriers between departments so you can operate more efficiently.

3.  Document Management & Workflow Automations

Whether you need to store, manage, or track documents; this technology solution helps you maintain and organize your information. Additionally, document management technology provides an added layer of security by giving you control of your sensitive documents.

Similarly, your organization can leverage workflow automations to reduce errors and eliminate the hassles of performing manual processes. This allows you to free up valuable time for your team, so they can focus on more strategic business functions.

Get started learning about document management and workflow automations using Microsoft Office365 or SharePoint.

4. Application Integrations

There are many unique integrations that make it easier to manage all aspects of your business from one customized platform. Business application integrations help to extend the functionality of your financial and operational software to help meet the unique needs of your business. Integrations fulfill a variety of needs from AP/AR automation to expense management to budgeting and planning.

Application integrations can be implemented at any time as your organization evolves and your business needs change. By implementing the integrations that align with your unique needs, your organization can increase efficiency and operate more seamlessly.

5. Business Intelligence (BI) Tools

Combining both strategic and operational data, BI tools collect, analyze and transform data into useful business insight. This insight allows decision makers to make more long-term strategic decisions and increase overall business agility.  Furthermore, BI tools are equipped with visualization features so organizations can uncover trends and monitor success metrics.

We understand that looking for new Financial Management Tools can be a daunting task. There are many solution offerings in the marketplace for different business types, making it difficult to find the right one that best suits your needs. Let us help you on your search for a new financial or operational management business technology solution.

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Author: Marisa Marozzi

Marisa is a Marketing Coordinator that has a demonstrated history of working in B2B marketing with a focus in the finance, healthcare, and technology industries. Marisa brought her passion of digital marketing and content creation to CompuData in 2019.