by Rob Joseph, Director, BeaconCFO Plus
Benefits of a Virtual CFO: Implementing an ERP System
Prioritize Enterprise Resource Planning With BeaconCFO
If your organization is weighing the need for a part-time or project-based CFO, you may be worried about presenting the idea to your team. BeaconCFO Plus is not a replacement for your employees. We’re a partner, advocate, and teammate. We will supplement your efforts—and take on new projects and initiatives—so that you and your staff can focus on the daily responsibilities that make your business go round.
One benefit of a virtual CFO is taking key financial projects off the back burner. For example, has your organization thought about using ERP (enterprise resource planning) software? The answer is probably yes. But have you taken the time to select and implement an ERP system? For many organizations, this important task has fallen off the radar in light of other, more pressing day-to-day issues. This is exactly the type of task that your virtual CFO can take on.
What Is an ERP System?
According to Gartner, enterprise resource planning is “defined as the ability to deliver an integrated suite of business applications.” ERP tools are ideal for end-to-end business processes found in HR, supply chain, and, of course, finance. They integrate data from across various departments or even your entire organization, giving your financial team real-time access to the data they need for informed decision-making.
CIO Magazine calls ERP systems the “backbone of modern businesses,” noting:
“The agility afforded by a modern ERP system backboned by honed business processes can help any company compete in today’s business environment, which has been severely affected by supply chain disruptions as well as disruptions to traditional business operations due to employees working from home due to COVID.”
While ERP systems are well worth the investment, implementation can be complex, especially if you’ve been operating for years on antiquated systems with a limited technology stack. Your virtual CFO will select and deploy the right system for your business with care and attention to your critical business requirements, future goals, and the user experience for your team.
The benefits of working with a virtual CFO to put in place the right ERP solution include:
- Improved process efficiency
- IT cost savings
- Standardization of processes
- Automation of time-consuming processes (like invoicing)
- A driver of innovation
Work With BeaconCFO to Choose and Integrate an ERP System
Streamline Company Data to Make Your Job Easier
Your team may not have the time or capacity to execute an ERP system integration—but if you continue to push it to the bottom of the list, you’ll never realize the benefits. That’s where BeaconCFO Plus comes in. Reach out to discuss the possibility of working with one of our CFOs to handle the research, selection, and implementation of ERP software for your organization.