Adopting integrated management involves managing the entire company, from operational performances to financial management, using the same software. The latter ensures uniformity and centralisation of information shared across departments.
But is it right for you?
The use of integrated management is an increasingly marked trend these days. However, the benefits of using an ERP system differ from one company to another. If the financial aspects of a company are not particularly dependent on the operational side of the business, there is not much point in embarking on such a project. Conversely, if you are a service company, and in addition, you structure your activities by project, the unification of the operational and financial aspects of your business is essential for its proper management.
OK, but why invest in an ERP when you've managed without one up until now?
What are the advantages of integrated management for a service company managed by project?
If all your reporting runs smoothly, then the matter is settled, and so much the better! But if you often find it difficult to manage multiple entries or to fight the good fight against errors in spreadsheets, then integrated management represents a huge saving in time and improved quality. It actually makes it possible to authorise most entries automatically.
In addition, it facilitates audit trails because the centralisation of financial information makes it easy to trace each transaction. You can then respond in one click and a smile to your auditor when he asks you why you authorised that payment pending invoice.
You will also be able to understand and explain your data in depth with drill down.
How can you tell if it's right for you?
The flow of information must go in both directions. If the communication of objectives and strategy makes it possible to effectively manage the financial aspects of the project, that's a good start.
But the reverse is also important. For example, it's an advantage if the miscellaneous transactions authorised for a project can go back to the project manager in time to manage the budget. So this is something you need to watch out for.
You might then be tempted to create your solution with components from different publishers, but watch out, it may make you lose productivity. If you choose components from different publishers, you'll have to manage different interfaces. Once again, you will have restatements to do and regular self-monitoring will be needed to ensure that each module has been updated.