As ERP modules have function of real time and are automatically updated whenever new events occur, one can review the economic position of a company in realtime as contrast to conventional systems where there is no realtime procedure by means of the FI section. This helps in taking a much better decisions and strategic plannings.
The Financial Accounting and Control (FICO) module in ERP is developed to detain company's business transactions in a manner that will satisfy outside reporting requirements. Local legal considerations are pre-delivered with the technique and the aptitude to manage and document on multiple companies in multiple countries with multiple currencies is a part of standard utility.
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