Contact Us
  • About
    • About FinanSys
    • Meet the Team
    • Who Trusts Us
    • Partners, Accreditations & Memberships
    • Careers
    • Privacy Policy
  • Solutions
    • Sunsystems Solutions
      • SunSystems Cloud
      • SunSystems Financials
      • Query & Analysis Reporting
      • Sharperlight Reporting
      • Process Automation for SunSystems
      • Bank Payments
      • Making Tax Digital
      • Finansys Cloud
      • Spindle Document Delivery
      • Infor d/EPM
    • Netsuite Solutions
      • Oracle NetSuite Business Management Solutions
      • Financial Management Software
      • Professional Services Automation
      • NetSuite eCommerce Solutions
      • Cloud-based Customer Relationship Management Solutions
  • Services
    • SunSystems Services
      • SunSystems Training
      • Professional Services
      • SunSystems Support
      • FinanSys Cloud Support
      • Integration – Infor Sunsystems
      • SunSystems Project Calendar Timeline
    • NetSuite Services
      • NetSuite Professional Services
      • NetSuite Support
      • Oracle NetSuite Integration
      • NetSuite Project Calendar Timeline
  • Enhancements
    • Overview
    • Purchasing
    • Sales
    • Financial Accounting
    • Reporting
    • Human Resources
    • Compliance
    • Optical Character Recognition
  • Sectors
    • Energy, Oil & Gas
    • Hospitality
    • Financial Services
    • Not-for-Profits
    • Property Management
      • Housing Associations
    • Professional Services
  • Resources
    • Case Studies
    • Brochures
      • FinanSys Brochures
      • SunSystems Brochures
      • NetSuite Brochures
    • Videos
      • SunSystems Videos
      • NetSuite Videos
      • Thinking about a new accounting system?
    • Webinars
    • News and Blog
    • SunSystems Training Manuals
    • Subscribe to our mailing list
    • FAQs
  • Customer Area
  • Contact
  • About
    • About FinanSys
    • Meet the Team
    • Who Trusts Us
    • Partners, Accreditations & Memberships
    • Careers
    • Privacy Policy
  • Solutions
    • Sunsystems Solutions
      • SunSystems Cloud
      • SunSystems Financials
      • Query & Analysis Reporting
      • Sharperlight Reporting
      • Process Automation for SunSystems
      • Bank Payments
      • Making Tax Digital
      • Finansys Cloud
      • Spindle Document Delivery
      • Infor d/EPM
    • Netsuite Solutions
      • Oracle NetSuite Business Management Solutions
      • Financial Management Software
      • Professional Services Automation
      • NetSuite eCommerce Solutions
      • Cloud-based Customer Relationship Management Solutions
  • Services
    • SunSystems Services
      • SunSystems Training
      • Professional Services
      • SunSystems Support
      • FinanSys Cloud Support
      • Integration – Infor Sunsystems
      • SunSystems Project Calendar Timeline
    • NetSuite Services
      • NetSuite Professional Services
      • NetSuite Support
      • Oracle NetSuite Integration
      • NetSuite Project Calendar Timeline
  • Enhancements
    • Overview
    • Purchasing
    • Sales
    • Financial Accounting
    • Reporting
    • Human Resources
    • Compliance
    • Optical Character Recognition
  • Sectors
    • Energy, Oil & Gas
    • Hospitality
    • Financial Services
    • Not-for-Profits
    • Property Management
      • Housing Associations
    • Professional Services
  • Resources
    • Case Studies
    • Brochures
      • FinanSys Brochures
      • SunSystems Brochures
      • NetSuite Brochures
    • Videos
      • SunSystems Videos
      • NetSuite Videos
      • Thinking about a new accounting system?
    • Webinars
    • News and Blog
    • SunSystems Training Manuals
    • Subscribe to our mailing list
    • FAQs
  • Customer Area
  • Contact

Why is financial software useful for businesses?

Why is financial software useful for businesses?

Why is financial software useful for businesses?

In efficiency terms, the way that you handle your business finances will have a big impact on performance. Whether you’re a small business working from piles of paper and receipts or a large enterprise with complex spreadsheet systems, it’s difficult to be financially accurate and effective without the right infrastructure in place. Financial software provides that infrastructure and also offers many opportunities for better financial management. These are just some of the reasons why financial software is useful for businesses.

Perspective on cash flow

The range of different figures and sources that are required to provide a truly accurate picture of cash flow often make perspective difficult to achieve. With financial software, everything, from revenue in, to invoices sent and overdue payments is integrated into one place so that you can see exactly where your business is at any time. Not only will this ensure that you’re fully aware of the way that cash moves around the business at any given moment, but it will also provide solid foundations for more accurate financial planning and projections.

Improving accuracy and reducing error

There is a lot of potential for error with manual calculations. That’s especially so if you’re working with multiple documents and data sources, bank accounts and records. Financial software can help to ensure data entry is carried out in a way that is accurate. So, your business won’t be held back by errors in accounting and you can spend less time on correcting mistakes.

The use of automation

Automation is a quiet revolution in financial management, reducing time spent on basic or repetitive tasks and freeing up staff to work on other more value adding jobs. Financial software, such as SunSystems, has automation built in to reduce workload in key areas such as invoice entry, workflow processing and reporting. It means that you’ll have full financial records, drawn from invoices or past payments, and you won’t have to manually input this data yourself. It can be used to send reminders and chase up payments so that functions, such as collecting on invoices, don’t have to take up quite so much time.

Tax preparation

All financial software will have tax preparation functions integrated, as this is something that every business is required to do. From keeping accurate records through to exporting the data necessary to make returns and file accounts for tax purposes, the process is simplified and more accurate where financial software is involved. Not only is your data better handled and more accessible but you can also use financial software to support scheduling so that you don’t miss key deadlines.

Efficiency and cost

Digital invoices are simple to prepare and send with financial software. These can be easily tracked and chased up, monitored and shared and the data quickly and effectively exported into other key documents. In fact, financial efficiency is improved throughout the business with software use, providing multiple opportunities to reduce cost, from ensuring prompt invoice payments through to minimising the need for professional accountancy involvement. Cloud storage ensures your data is secure and also that it can be accessed flexibly to support an agile business model.

These are just some of the benefits of using financial software in your business – updating out of date legacy systems in this way could be transformative in terms of both operations and cost.

Get in touch with FinanSys to find out more about our SunSystems software for organisation today.

Book a call with us today to discuss how you can harness the financial management benefits that SunSystems offers

Book a call
Alt Text

Related Posts:

  • Why It Is Important to Train Your Staff to Use New Software
  • Moving From Basic Accounting Software to the Cloud: Why Fast-Growing…
  • Using SunSystems 5.4? Here’s Why You Need to Upgrade!
  • Why Should You Upgrade to SunSystems Cloud?
  • QuickBooks Desktop Discontinuation: Here’s Why SunSystems Is A Better…
  • 5 Must-Have Features for Oil and Gas Accounting Software
 
Recent Posts
  • FinanSys Bali Trip 2023
  • Enterprise Asset Management for Oil and Gas
  • The Evolution of Accounting: From Luca Pacioli to FinanSys Apps
  • 7 Steps for a Successful Digital Transformation in 2024
  • Unit4 Financials End of Life: What You Need to Do Now to Save Your Financials
Archives
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • August 2020
  • May 2020
  • March 2020
  • August 2014

How Cloud can reduce security risks and benefit your organisation

Previous thumb

FinanSys Launches the First HMRC-Tested Making Tax Digital for SunSystems solution

Next thumb
Scroll

FinanSys Solutions Ltd

Address: 107 Cheapside, London, EC2V 6DN, UK
Phone: +44 (20) 7456 9833
Email: info@FinanSys.com

Privacy & Cookie Policy

Copyright © 2023 FinanSys Solutions Ltd. All Rights Reserved

Recent Posts
  • FinanSys Bali Trip 2023
  • Enterprise Asset Management for Oil and Gas
  • The Evolution of Accounting: From Luca Pacioli to FinanSys Apps
Useful Links

Events & Webinars

Customer Login

News & Blog