09/09/2020 by MNV Associates
Role of Accounting Firms in Dubai in Third Party ERP Implementation
Managing your finances manually can be difficult as your business grows. From doing inventory and accounting to human resources and customer relationships, manual solutions may not be the most efficient. You might want to implement an ERP system. Before doing so, you should consult accounting firms in Dubai. Here’s why.
What is Third Party ERP Implementation?
Enterprise Resource Planning implementation involves the integration of several functions of resource management into one system through software. It incorporates various aspects of managing a business’ resources such as planning, operations, financials, supply, employment and reporting. For some, it is implemented by a third-party vendor.
When a company shifts to this, its data will undergo migration. This means that their existing information will have to be moved into the automated system. The main goal of adopting this software is to streamline the processes and make them more efficient. In the long run, it becomes more cost-effective and efficient.
Why Hire Accounting Firms in Dubai for ERP Implementation?
Now that you know what this s, you might be wondering how accounting firms figure into the equation. Here is a simple guide to explain why you should hire an accountant to help you in this transition.
To Understand the Need
As mentioned, ERP is a system meant to streamline your resource management processes. If you are hesitating about making this move, then you might want to consult an accountant to see whether it is worth it to spend money on this system in light of the benefits you will get from it. Your accountant will evaluate whether your current resource management techniques are sufficient in handling your resources, particularly your finances. Once they see that your company will benefit from this move, then they will recommend you to make the transition.
To Know the Cost
Of course, it is reasonable for you to be concerned about the cost of implementing ERP. You will know how much the transition will take when you inquire from a third-party vendor. The system itself and its installation will cost money. However, keep in mind that you will also have to account for the potential slow down the process will cause.
To know how much the entire transition will cost, you might want to consult an accountant. They will help you determine whether this is a smart idea, finance-wise, especially as it will be dealing it your company’s resource data.
To Avoid Unexpected Costs
Speaking about transition costs, implementing a new system can have additional costs, especially if you and your staff have been working with a more traditional system for a long time. With an ERP system, you will need a trained professional to manage and maintain the system. You can hire a third-party staff to do so occasionally or you can hire an additional member of your team to handle all things related to ERP.
Failing to account for this can cause unexpected costs. Your accountant will inform you about these additional costs so that you can take it into account as you decide to transition to ERP.
Third-party ERP implementation can cost money. With the help of accountants, you can make the transition knowing full well what it will cost you and how it can benefit your company.