What is the difference between an accounting system and an Enterprise Resource Planning System (ERP)? And, how do you determine which one is right for your company? Traditionally, accounting systems record historical data – information that has already happened and is useful for comparative reporting, budgeting, planning, etc. On the other hand, ERPs, while containing and being dependent upon what has happened in the past, also contain “real-time” or nearly “real-time” transactions. Given this basis, it follows that ERPs are frequently larger and more robust than accounting systems. ERPs often cost more to purchase, require more time to implement and necessitate more user training. Additionally, for government contractors, there is an added level of complexity that must be built in to either system to support DCAA and CASB compliance.
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