Business and financial operations encompass more than just accounting, they also include elements like supply chain and inventory control, and customer relationship management (CRM).

Disparate accounting systems make it difficult for the global business to keep up and make the necessary adjustments to continue operating in accordance with various local accounting and legal standards. Small changes in one location can have an unforeseen impact on business conducted with partners and customers in other places.

Taxation, reporting and other financial regulatory requirements are in a constant state of flux.

Reconciling or consolidating local reports from these systems to produce a global view is then time-consuming and prone to human error.

When businesses expand into new territories and allow their local offices or subsidiaries to procure their own accounting tools, each office often ends up with its own siloed accounting system.

Pure-play accounting software no doubt includes features for bookkeeping, payroll and payments, but small businesses and start-ups quickly discover its limitations as their number of customers, orders and inventory, and the volume of business data increase – for three reasons: SAP Business One Prepares Smaller Companies for Expansion (and Exit) After all, both were user-friendly, simple and feature-rich from an accountant’s point of view, and I didn’t know better.Īs I subsequently took on roles where success was dependent on having both a comprehensive oversight and a granular understanding of the business, such as mergers and acquisitions (M&A) at a multinational corporation (MNC) or being a co-founder of a start-up that is expanding regionally, the shortcomings of pure-play accounting software became apparent. As an accountant who was auditing clients at a big four accounting firm for three years, I was often satisfied with using pure-play accounting software like QuickBooks Online or Xero.

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