Tally® ERP is a popular finance and accounting solution used by many team members in many businesses. It provides modules to support inventory management, purchasing, sales professionals, accountants, finance managers and other expense and revenue related functions responsible for taxes, statutory reporting etc.
There are many finance-related roles within a business. Whether you are an accountant or a finance manager or controller, or you manage inventory, purchasing, sales or other critical areas of the business, it is likely that you are responsible for a budget and for mitigating expenses and improving revenue. Tally® ERP users understand the software solution and use it daily to enter data and to produce standard reports.
No matter the task or job, every team member needs the right tools to be successful. Accountants, finance professionals, purchasing managers, inventory professionals and other team members responsible for expenses and revenue need the right tools to do their jobs and, in this day of remote work and dispersed teams, that need is greater than ever. The answer to that need is, of course, founded on technology.
The Rochester Institute of Technology (RIT) states that, ‘Accounting analytics can help an organization answer financial questions by looking at all the data gathered by a company (e.g., transactional data, financial data, investment analysis, etc.) and analyzing this information to gain significant insights, predict future outcomes, or even ascertain risk.’
The Accounting Research Center and Continuous Auditing & Reporting Lab at Rutgers University stated that, “The audit profession is leveraging technology and electronic information to expand the auditor’s ability to access and analyze vast amounts of information.”
Providing ample business intelligence in clear, concise fashion is important for every business. But, if the business analytics tools are not simple enough for business users, all that sophisticated analytical data will not help your team to make confident decisions or to accurately and effectively plan.
Ah, the naivety of the 90s! Businesses clung to the hope that they could find ONE software solution that would satisfy every business needs and do so affordably and quickly. Today, the world of business incorporates legacy systems, best-of-breed solutions, reporting software, industry-specific apps, mobile applications for smart phones and tablets and every manner of sales, contact, inventory, warehousing, financial, production, distribution, legal and enterprise software.
If we have abandoned the dream of ONE solution, we haven’t abandoned the idea that we must integrate the data in all systems to avoid drowning in a sea of useless information. How can we integrate systems designed in different code, different data base configuration, and different platforms and frameworks and tools?
