Sanjay Fatania, Financial Implementation Manager at Kerridge Commercial Systems (KCS), explains how using a computer system with fully integrated financials delivers greater efficiency, visibility and faster decision making to your business.
“There’s plenty of uncertainty in the current economic climate and every business owner or financial manager wants constant, fast access to the most up to date and accurate financial information. Using a computer system that combines a trading system with fully integrated financials means up to the minute sales figures, debtor position, cash, stock values, etc., will always be immediately available for informed analysis.
An integrated system using a single general ledger (GL) posts all transactions to the GL from ‘front end’ processes as they are completed. There’s never a need to ask “has that journal gone through yet” or “is that transaction in this ledger but not showing in another?” It’s all there in real time and you can drill down to the individual transactions held within the trading part of the system.
I would also recommend this type of system makes life much easier and provides you with totally reliable, up to date information on which to base your business decisions. I would also recommend a system that offers great flexibility in the creation of reports and dashboards to make sure everyone who needs to can identify and resolve business issues - and take advantage of opportunities as they arise.
You will absolutely want to keep on top of your debtor position and be proactive in managing outstanding debt. So, look for a system that can be configured to:
- Create a call list
- Send out letters to confirm the call and track the process within the system
- Log all these actions within the customer files
Our K8 software is a fully integrated trading and business management solution already used widely in the builders’ merchant industry. It combines a suite of modules including sales order processing, purchasing, stock control and eCommerce, as well as integrated financial accounting based on a single ledger system.”