Gaining competitive advantages have become a great challenge for business. With technologies continuously evolving, markets volatile, customers becoming tech-savvy and the changing government policies, for instance, implementation of the VAT (Value-Added Tax) — put businesses in the doldrums.
Many business leaders, across the world, believes that the traditional On-Premises accounting software is inflexible and also leads to cost-overrun. With technologies evolving at a breakneck speed, many of the SMEs and Large Enterprises are resorting to advanced finance automation software such as VCA (Value Creation Automation), which is unique than many of the modern-day ERP Suites.
The truth is, any time is the right time to implement an ERP system. Whether you want to kick-start a small business, just started your own company, or are in charge of running a rather large organization, automation of some sort is always needed.
Just to be on the safe side, ERP automation doesn’t necessarily mean large industry-scaled robots powered by sophisticated. A small software that takes care of a particular business functions such as customer relations or accounting can count as an ERP.
Continuously evolving technologies have rapidly changed everything for businesses all over the world. The way today accounts are being managed, advertisements are being made, customers are being approached and also the way competition challenges are being dealt with, the business functioning style has completely transformed.
Companies are embracing technologies such as Business Process Management (BPM) software and transforming the way processes function. Many of the advanced BPM software, for instance, VCA (Value Creation Automation) or Microsoft Dynamics, are enabling business firms in streamlining entire tasks and activities pertaining to business, both inside and outside.
Not many years ago, companies maintained a team of experts in finance and accounting department to manage entire financial operations. But despite that, accuracy has always been questioned. These days when the evolving technologies have completely changed the face of businesses, companies need perfection, precision and complete accuracy to gain competitive advantages.
With the super-fast changing technologies and continuously increasing competition level, maintaining so much of data manually is next to impossible. There are organizations, which process a huge amount of data on a daily basis and therefore every time inaccuracies and errors add to companies’ operational costs. Therefore, businesses across the world are bidding an adieu to traditional measures of bookkeeping. To catch up with the rapidly changing pace of, businesses, small or larger, are embracing advanced financial automation solutions such as Value Creation Automation (VCA).
It is an age where computers are designed to interpret human language and take the desired action, where cognitive ability has turned out to be a reality and where humans are bound to adapt with programmed machines. It is the age of automation, which is enabling businesses in performing tasks and other activities with perfection, precision, and accuracy.
Enterprises, be it small, medium or large, are left with no other option but to automate tedious business processes such as finance and accounting. Performing such tasks manually keeps the error-rate high and leads to various complexities in performing business activities. It involves a lot of paperwork, time, money, and other resources. Moreover, when ledger books are filled manually or any other accounting activity is being performed, chances of errors increase and it also results in delays. Reports are not up to the mark and accessibility of important financial data and statements is restricted.