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5 Tips to Boost the Financial Health of Your Business: Adapt to Regulatory Requirements (5 of 5)

Kim Anselmo - Thursday, December 12, 2013

This is the fifth post in our five-part series "5 Tips to Boost the Financial Health of Your Business," which focuses on the importance of using a proven financial management system to better run your business. In our previous blogs, we discussed how access to the right tools and information improves everyone's performance, how you can make data work to make the most of your money, how tracking and managing cash flow can help your business and the advantages of managing your finances from the Cloud.

Adapt to Regulatory Requirements

While the regulatory requirements of each industry are unique, they share a common theme: change. Whether it's healthcare mandates or industry-specific financial reporting requirements, every business has to balance systems that deliver compliance today with the flexibility to adapt as their regulatory responsibilities change.

An enterprise resource planning (ERP) solution offers a set of financial management tools with securities and controls to help you meet regulatory requirements. Built on tried and true accounting and reporting best practices, solutions such as Microsoft Dynamics GP help deliver accountability and oversight, and provides you with the ability to clearly separate duties around sensitive data and processes to reduce fraud and protect your company from internal risk.

As regulations change, you can't afford to be locked into a system that won't adapt. Financial management capabilities within Microsoft Dynamics GP are built to be flexible, so you can change your workflows and processes to keep your business compliant without breaking the bank.

Keeping track of every dime can really take its toll on a company. And if you're trying to do so with overburdened, outdated systems, you're going to end up paying for it eventually. Microsoft Dynamics GP offers a sensible financial management solution ready to grow and change with your business.

Download our Business Success Kit to help you select your next accounting software solution and partner to best suit your business needs.


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