As someone who works in accounting, you must understand that the accounting workload is getting bigger in today’s modern business era. Factors such as business globalization, complex regulations, and the need for real-time reports are the reasons why accounting in the modern business era is getting heavier. In this case, you need an accounting system.
An accounting system is a series of procedures and tools used by an organization to collect, record, manage, and report financial information. Quoted from the Journal of Accountancy, the utilization of accounting systems increases the productivity of 79% of businesses in the world because it is able to integrate accounting elements into one platform.
Because of the efficiency offered, now there are many vendors of accounting system providers, one of which is SAP. Founded in 1972, SAP developed into the most widely used and trusted system. However, is SAP really that good? What are its advantages and disadvantages?
In this article, we will present an in-depth review that discusses the advantages, and disadvantages, provides alternatives to the system you are using.
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What is SAP accounting system?
SAP Accounting System is one of the financial software designed to assist companies in managing and processing financial transactions. The system offers a comprehensive solution that includes various accounting functions such as bookkeeping, financial reporting, and budget management.
One of the main advantages of the SAP Accounting System is its ability to save time in managing financial reports. The automation process provided by this system can speed up the preparation of reports and minimize delays in the accounting process.
Not only that, this accounting software benefit is makes it easy for users to analyze financial data. The system is equipped with powerful analytic tools, enabling companies to gain deep insights into their financial conditions that allow them to make more informed business decisions based on financial information.
However, behind its various advantages, SAP Accounting System also has several disadvantages. The integration process is not always seamless, especially when it comes to synchronizing with other systems that already exist in the company.
In addition, SAP license prices tend to be higher, making it less affordable for smaller companies. SAP implementation can also be challenging as it requires considerable time and resources, as well as requiring specialized training to ensure the entire team can use the system effectively.
7 Recommended SAP Accounting System Alternatives for Businesses in the Philippines
Accounting systems do offer advantages that can improve the efficiency of financial management. However, it still has drawbacks that can hold you back. Samakatuwid, mahalagang isaalang-alang mo ang mga alternatibong sistema mula sa SAP.
Here we present 7 SAP alternative systems that you can consider using:
1. HashMicro accounting system
The first choice of SAP accounting software alternative that you can consider is the accounting system from HashMicro. HashMicro’s accounting software is designed with a user-friendly interface that makes the implementation process less time-consuming and does not require someone with a specific background.
In addition, it has scalability and extensive customization options. As a result, the system can continue to be optimized to keep up with all business developments and follow the specific needs of each financial management need required by the company.
Here are the features offered by the HashMicro accounting system that make it worth your consideration:
- Bank Integration – Auto Reconciliation: Automatic matching process between transaction data recorded in the bank and internal bookkeeping in the system.
- Multi Level Analytical: Know the trend or insight of all financial transactions in real-time and can be filtered based on various categories.
- Profit & Loss vs Budget & Forecast: Provides a report that can provide information related to the deviation between the estimated profit and loss based on the budget value that has been set and the actual profit and loss value.
- Budget S Curve: Visually track and understand the distribution of expenses in the project, enabling faster and more informed decision-making regarding budget management.
- Financial Statement with Budget Comparison: Provides a clear picture of how the company’s actual financial performance matches the plan to identify deviations and make necessary adjustments to achieve financial goals.
| Pros | Cons |
| Can be integrated with other systems easily | Less suitable for medium to low-scale businesses |
| Responsive customer service
No limit on the number of users |
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| Wide scalability | |
| No additional costs in the middle of implementation |
Why we choose this software:
Has the easiest system integration to perform
2. Sage X3
Sage X3 can be your SAP alternative. This system can help you to generate real-time reports that have an important role in making strategic business decisions in the future. In addition, this system also has high scalability to make Sage able to keep up with all business developments in the future.
Narito ang mga tampok ng Sage X3 na ginagawang sulit ang system na ito sa iyong pagsasaalang-alang:
- Fixed Assets Management
- Budgeting and Forecasting
- Multi-Currency Support
| Pros | Cons |
| High scalability | Limited customization |
| Facilitate multi-currency management | Less intuitive interface |
| Operational efficiency | Less responsive customer service |
Why we choose this software:
Best for control over financial management
3. Epicor accounting system
Epicor Accounting System is part of an ERP solution designed to comprehensively manage a company’s accounting and financial needs. The software is used to help companies track and manage financial transactions, optimize budgets, and simplify the financial reporting process.
One of the key advantages of Epicor is its comprehensive ERP functionality. It not only offers accounting solutions but also integrates with other modules such as inventory management, production, and human resources. This allows companies to have one unified platform that makes coordination between departments easier.
Narito ang mga tampok ng Epicor na ginagawang sulit ang system na ito sa iyong pagsasaalang-alang:
- Governance, Risk and Compliance
- Financial Analysis
- Accounts Receivable
- Fixed Assets
| Pros | Cons |
| Responsive customer service | Incomplete modules |
| No additional costs in the middle of the implementation process | Difficult to customize |
Why we choose this software:
Best for streamlining accounting processes
4. Oracle Netsuite accounting software
Oracle’s online accounting program offers an integrated solution for managing company finances. This accounting software is built to operate in a cloud environment, utilizing advanced cloud technologies to improve accessibility, scalability and security.
Here are some of the features that this accounting application offers:
- General ledger
- Expense management
- Risk management
| Pros | Cons |
| In-depth features | Dependence on IT infrastructure |
| High flexibility | High maintenance costs |
Why we choose this software:
Best for automating core financial processes
5. Microsoft Dynamics
Microsoft Dynamics offers a wide range of accounting solutions designed for companies of all sizes and needs. As a complete and integrated accounting application, Microsoft Dynamics provides great flexibility. Microsoft Dynamics AX, in particular, is perfect for businesses that are engaged in production and have operations in multiple locations.
Here are some of the features that this accounting application offers:
- Self-service analytics
- Digital business processes
- Automated payment reminders
- Vendor communication
| Pros | Cons |
| High flexibility | Less suitable for medium to low-scale businesses |
| Can be integrated with other systems easily | Limited customization options |
Why we choose this software:
Can be easily integrated with other Microsoft systems
6. Zoho Books
Zoho Books is an accounting software that can manage your company’s finances, automate business workflows, and help you work collectively across departments. The software is easily accessible to all employees, so you can add your team of accountants to record time, view reports, or manage your company’s accounts.
Here are some of the features that this accounting application offers:
- Bank reconciliation
- Project accounting
- Workflow automation
| Pros | Cons |
| Have access to the mobile app. | Limited integration options are available. |
| Have to invest in higher-tier plans to get advanced features. |
Why we choose this software:
Has a quick and easy implementation process
7. FreshBooks
FreshBooks is a cloud-based accounting program that can be downloaded for business needs. They offer features such as financial report generation, invoicing, and integration with other applications such as online payment software.
Here are some of the features that Freshbooks offers:
- Expenses & receipts
- Mileage tracking app
| Pros | Cons |
| User-friendly interface | There is a limit on the number of users |
| Extensive flexibility | Lack of scalability |
Why we choose this software:
Has a fairly low implementation price
Tips for Choosing the Right Accounting System and Business Needs
In choosing an accounting system, you must be selective and thorough in checking the quality of the selected application. Choosing the wrong system will bring bad things, such as data errors and financial reports. This can happen because the system cannot produce appropriate financial data recording and calculation.
Systems that do not match business needs can slow down accounting processes and increase employee workload. As a result, the company’s operations become inefficient, spending more time and resources to fix problems that could have been avoided with a more appropriate system.
You definitely don’t want that to happen, do you? Here are tips that you can refer to in order to choose an accounting system that suits your business needs:
- Adjust to Business Needs: Make sure the accounting system you choose is suitable for the size and complexity of your business. Choose software that has features that are relevant to the industry and operational needs of the company.
- Evaluate Ease of Use: Choose a system that is easy to use and has an intuitive interface, especially for teams that are not too familiar with technology. An easy-to-learn system will speed up the implementation process and increase productivity.
- Ensure Integration Support with Other Systems: The right accounting system should be able to integrate with other software used, such as inventory management or CRM. This will ensure smooth data flow between departments and improve operational efficiency.
- Consider Cost and Scalability: Pay attention to license and maintenance costs that fit the company’s budget. Also, make sure the chosen accounting system can be upgraded and expand as the business grows.
Conclusion
SAP system is one of the most widely used accounting applications. This application offers various advantages that can increase the productivity of financial management. Even so, this application also still has some disadvantages that you need to pay attention to.
Therefore, integrating with other system alternatives such as the HashMicro accounting system can be an effective solution that you can do. This system has a user-friendly interface and can be integrated with other systems. So, it doesn’t take long to be able to operate this system.
HashMicro also does not impose limits on the number of users and additional fees. So, the financial management process can be directly supervised by several people at once to increase transparency.
If you’re curious about how this system can help, schedule a free demo to learn how HashMicro’s accounting system works.
