|Implementation of ERP solutions is one of the largest drivers of growth for businesses. The introduction of such comprehensive software like ERP enables an organisation to integrate their manufacturing, finance and marketing operations at all levels, is in itself a challenge, since it calls for technical and functional skills and a change in user mindsets. And therein evolves a role of a consultant. CA as a Consultant will play a major role in implementation of an ERP solution.
From a strategic point of view, a chart of accounts is one of the elements of an organisation's common business data model. Structuring the chart of accounts often becomes an important step in leveraging the best out of an ERP system. The other aspects include,
• Dimensions or granularity along with information, such as product, activity, cost centre, geography, segment structure, legal entity etc.
• Capability to capture information
• Provision for Legal Entities
• Ensure compliance of Statutory Accounting Requirements
• Maintenance of the Chart of Accounts
• Define control points to reduce erroneous transactions
• Information System management