Financial ERP
A financial ERP is an enterprise resource planning system focused on finance and accounting. It records, manages and evaluates the finance-relevant processes of a company: financial accounting, receivables and payables, fixed assets, cost accounting, reporting and the financial close. Operational processes such as resource planning or project management are not its primary focus.
What does a financial ERP include?
Financial accounting for recording business transactions, accounts receivable and payable, cost and performance accounting, budgeting and forecasting, and reporting for management, investors and authorities. Together these show liquidity, profitability and financial stability. Legal requirements, balance sheets, tax documentation and the financial close are the core of its work.
How does a financial ERP differ from an operational ERP?
An operational ERP integrates processes across the company, from purchasing and warehousing to project management. A financial ERP concentrates on the financial area: accounting processes, legal requirements, balance sheets and the financial close, tax documentation and financial reporting. Resource planning and project management sit outside its main focus.
How does a financial ERP differ from a project ERP?
A financial ERP documents what happened, correctly and for the books. A project ERP additionally covers resource planning, project controlling, time tracking, capacity management and project profitability, and supports the steering of projects while they run. Many companies connect the two or run both on one shared platform.
What does a financial ERP do in a project business?
Revenue and costs arise per project, and the financial ERP makes sure they are booked correctly: project revenue posted to the right place, costs allocated to what caused them, margins reported transparently and financial statements prepared in an audit-proof way. It is the financial control over everything that happens operationally.
troi is a project ERP with PSA capability built in. See all features.