The value of Enterprise Resource Planning (ERP) software in supply chain management is undeniable. Integrating ERP modules such as finance and accounting, engineering, production, inventory, purchasing, and others improves the flow of information between business units, making teams more collaborative and efficient.
Yet research produced by Foundry for Hitachi Vantara and Oracle shows that most companies experienced problems around the accuracy, availability, and even trustworthiness of their financial data when using ERPs.
The survey of 100 financial decision-makers in the USA and UK found inaccurate financial data caused problems for 94% of companies, with one in five saying they had trouble tracking true project costs and revenue.