Business Management Software: Accounting, CRM and BI Explained

Business Management Software is best understood in three software components

Operations Management software, Accounting software, CRM software and Business Intelligence software are the four business functions that make up Business management software. Part 1 of this blog series described Operations Management Software, in detail. Now let’s look at the other 3 software components below.

What is Accounting Software?

With accounting software, you can automate basic business transactions such as creating invoices, sales orders, purchase orders and cash receipts. You can also use comprehensive data and report from a transactional level.

Standard accounting software functions (or modules) include Accounts Receivable, Accounts Payable, Sales Orders, Customer Invoicing, Purchase Orders and Vendor Invoices, Payroll and Human Resources Management, Banking and General Ledger to collect financial results.

Accounting Software: What’s New?

The Cloud: Access your accounting system anywhere from any device using the Cloud. Easily get data in and out of your accounting system, including integration to other general business process systems.  

Some examples of such systems would include charge card and debit card systems (often called “Payments”), electronic funds receipts and payment systems (EFT or electronic funds transfer), business to business transaction automation systems (EDI or Electronic Data Interchange), electronic document management systems that minimize storage of paper documents, and other business software systems such as CRM and operational software systems.

Learn more about Cloud Computing

What is CRM Software?

“CRM“ or a “Customer Relationship Management” system helps you manage your client and vendor relationships. Sales, customer service and marketing departments all benefit by implementing a CRM solution. The technology allows for no more overlooked sales opportunities or dropped appointments. Core CRM software capabilities include Contact Management, Sales Process automation, Customer Service automation and Marketing Campaign automation (including email campaigns, processes to record and manage tasks, email and phone communications, and electronic copies of recorded documents).
Today’s CRM software is very scalable and customizable. Some common CRM software features include workflow engines, flexible and comprehensive report development options and integration to other business software systems. With add-ons, CRM software can also be used as Operations Software, particularly in the areas of Project Management and Time and Billing.

Learn more about CRM Software

What is Business Intelligence Software?

Business intelligence software assists you in understanding your business transaction information much more accurately and efficiently, so you can make good business decisions.

Today, there are many versions of Business Intelligence software, depending on sophistication level and price range. These solutions give you the ability to manipulate your business data and review it in easy digestible chunks. The data provides important, actionable information, whether you are analyzing finance, sales, asset management or operations.  

Software tools such as Pivot Charts and Drag and Drop data analysis combine with back end database queries, views and cubes to make the whole process more intuitive.

Read more about Business Intelligence Software

We hope this blog series, helped you gain a deeper understanding of Business Management Software. To discuss how you can improve your existing business processes, or evaluate your business technology, contact Front Line Systems at 866-435-0243 today.

About Front Line Systems

Front Line Systems is an ERP Consulting Firm with headquarters in Minneapolis, Minnesota. We are passionate about helping businesses solve their accounting, CRM, manufacturing and warehouse concerns. We believe that your business has an amazing capacity for innovation and growth, and that technology can help you realize that capacity.
Front Line Systems is a technology partner that solves problems and creates solutions for the life of your business.

We provide business software implementation, support and consulting services in Minnesota, Wisconsin, Virginia, DC, Maryland, Connecticut (New England). We serve clients across the US. Contact Front Line Systems at 866-435-0243 or visit us online at www.flsinc.net. We look forward to serving you.

A version of this article is posted here: What is Business Management Software?

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