The beginning of the year is a perfect time for businesses to ensure their Enterprise Resource Planning (ERP) systems are up to date. Whether you're using Sage Intacct or Microsoft Dynamics 365 Business Central, maintaining a robust, current ERP system is crucial for streamlined operations and achieving your financial goals.
Here are five key areas to focus on as you prepare your ERP system for the year ahead:
1. Update Posting Dates and Calendars
One of the first steps in preparing your ERP system for the new year is updating your posting dates and fiscal calendars. These settings ensure that your transactions are recorded accurately and within the correct financial periods. Overlooking this step can lead to discrepancies and reporting issues, so ensure your system reflects the new year’s dates.
2. Refresh and Update Budget Data
A new year often brings new budgets. Ensure that your ERP system accurately reflects the latest budgetary data. This involves importing new budget figures and verifying their alignment with your strategic financial objectives. Regularly updating this information allows for more accurate forecasting and financial planning.
3. Verify User Permissions and Roles
As your business evolves, so might your team. Reviewing and updating your ERP system’s user roles and permissions at the start of the year ensures that the right team members have access to necessary data and functionalities, enhancing security and efficiency.
4. Review and Optimize Financial Reports
The new year is also an excellent time to review the financial reports generated by your ERP system. Look for ways to optimize these reports to better serve your decision-making processes. Whether adding new metrics or refining current reports, having the correct data at your fingertips is essential for strategic planning.
5. Conduct a System Health Check
Like any other software, ERP systems benefit from regular health checks. Ensure your system is running the latest version, check for any updates or patches, and verify that integrations with other systems are functioning smoothly. This proactive maintenance can prevent potential disruptions and improve overall system performance.
How Cherry Bekaert Can Assist Your ERP Health
As we step into the new year, updating and optimizing your ERP system can set the stage for a successful financial year. Cherry Bekaert is here to help your business optimize its ERP system or explore new solutions. Our experienced professionals can guide you through a comprehensive ERP system review, ensuring that your current setup aligns with your business needs and growth objectives. If you’re considering a new system, we offer tailored advice to find the best fit for your organization.
Working with Cherry Bekaert gives you access to in-depth knowledge and a personalized approach to ERP optimization. From system audits to strategic implementation advice, we are committed to helping your business leverage technology for financial success.
By focusing on key areas like posting dates, budgets, user permissions and system health, you can ensure that your Sage Intacct or Microsoft Dynamics 365 Business Central system supports your business goals effectively. With Cherry Bekaert by your side, you can navigate these updates with confidence.
As a Microsoft Partner and a Sage Partner, Cherry Bekaert offers a range of ERP solutions to optimize your business. With broad industry experience and keen business acumen, our team of professionals can help you begin your digital transformation journey. Learn more about our Microsoft and Sage services and solutions.
