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However, even with these advanced ERP systems and other third-party software products, most small to large businesses still must manually use Microsoft Excel (Excel) for financialanalysis, reporting, and other activities. We found that the biggest unspoken challenge weighing down finance teams is still manual Excel processes.
Laura Houldsworth, SVP and general manager at SAP Concur, says tax management involves financialanalysis and decision making. Proper tax management can lead to lower effective tax rates, better business decision-making, and greater accuracy in financial reporting," according to Houldsworth.
This allows the organisation’s core finance and accounting (F&A) operations to concentrate on more strategic work, such as financialanalysis and planning. "We An example of this will be the issuance of invoices based on billing requests.
However, even with these advanced ERP systems and other third-party software products, most small to large businesses still must manually use Microsoft Excel (Excel) for financialanalysis, reporting, and other activities. These processes vary. This makes what is likely an already time-consuming task mind-numbingly slow.
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