Modernize your ERP: simplify your transition with an Accounting Hub

In today’s rapidly changing economic landscape, businesses are under constant pressure to modernize their financial information systems.

ERP transformation is a significant undertaking that presents numerous challenges. This is where an Accounting Hub can be a game-changer, streamlining your processes and optimizing your financial operations.

In this series of webinars, “Finance Talks,” we’ll delve into the three primary reasons behind ERP transformation and explore the pivotal role that an Accounting Hub plays in these crucial projects.

Why Transform Your ERP?

The reasons driving businesses to transform their ERPs are multifaceted:

• Obsolescence: Existing systems may no longer meet current needs.
• Efficiency: Optimize costs, timelines, and resource allocation.
• Compliance: Adhere to new regulations and standards (e.g., ESG, IFRS).
• Agility: Adapt to organizational and technological changes.
• Data Quality: Enhance decision-making.

The ambition of an autonomous financial information system

Finance departments are striving for a more autonomous and intelligent information system:

• Automation: Reduce manual tasks and boost productivity.
• Flexibility: Adapt swiftly to changes.
• Data Quality: Provide reliable data for strategic decision-making.

Challenges of implementing a new ERP

Implementing a new ERP is a complex endeavor:

• Duration: Return on investment may be delayed.
• Integration: Interfacing with existing systems can be challenging.
• Limitations: Benefits of the new ERP may not be immediately apparent.

The solution: An Accounting Bridge

What is an Accounting Bridge?

It’s a solution that facilitates the transition between the old and new ERP. It collects, transforms, and standardizes financial data from various sources.

How does it work?

• Collection: It retrieves data from legacy systems that remain unchanged initially.
• Transformation: It adapts this data to the format of the new ERP.
• Integration: It transfers the transformed data into the new ERP.

Simplify your ERP transition with Axway Financial Accounting Hub

An Accounting Bridge is a crucial solution for a successful ERP transformation. It saves time, reduces risks, and enhances the quality of your financial data. Moreover, it allows you to focus your energy on preparing for the future (defining new accounting schemes, chart of accounts, analytical dimensions, etc.).

In our upcoming webinars, we’ll explore how Axway Financial Accounting Hub (AFAH) can be utilized not only as an accounting bridge but also as a powerful tool for data migration during ERP transformations.

Don’t miss the next episodes of our “Finance Talks” series where we’ll delve deeper into these critical aspects of modernizing financial systems.