A financial management system handles all of the financial transactions within a business and keeps track of the money as it comes in and out of the organization.
It’s software that an organization uses to view and manage its income, expenses, and assets to maximize profits and ensure sustainability. It helps to improve both short- and long-term business performance.
TUBA Finance Advantages
ERP finance module is a software system that collects all financial information of the organization and generates valuable reports.
With the help of these reports, the organization can have clear communication with its partners like vendors and customers.
Create invoices, track expenses, get a real-time view of your inventory and view financial reports
One stop acess to all finance-services
Takes over all control on finace management
Advanced eye catching Dashboard
Easy to access all financial reports by CFO
Reports show you where revenue is generated and where it is not generated. Thus it helps you to understand the financial condition of your company.
What Separates our Finance From Others
TUBA FINANCE Management System. It is software or a system used by organizations to manage their entire Finance Managements. FINANCE automates the process and makes the work easier. It keeps the data, information, and updates in a centralized location systematically. FINANCE in the current era is a vast platform that has various modules to manage each bit of Finance. Most commonly, FINANCE manages
Finance Management
Project Accounting
General Ledger
Asset
Vendor
Account Receivable
Account Payble
Budget
Chart of Accounts
Reports
Salary
Set Up
Revenue
Receipts
Chart of Accounts Managment
Understanding Finance
History of Finance:
Finance is the study and discipline of money, currency and capital assets. It is related with, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services. Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance.In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities.
The finance element of an organization is an important one that is ever-changing. People began keeping accounting records 3,000 years before the wheel was invented. Financial Management and Financial Management Systems (FMS) have evolved as the world and its technologies have advanced.
Why Finance is important?
A good financial management system will provide insight into how a business is performing and provide an understanding of why it is doing well (or not.) With a financial management system in place, you can make informed decisions and strategic plans. It can help a business be more profitable by showing what is happening within the business around key financial issues.
The system can help your business be proactive rather than reactive. It allows you to easily see your profit margins to know how to price goods or services. It helps you monitor all costs so you can keep them low. An FMS helps you plan for such things as taxes and employee benefits. And, it performs cash flow analysis so you can make sure enough cash is on hand to purchase inventory and pay bills.
Any organization that wants to scale up its business operations through improved decision-making and financial performance needs a financial management system. A financial management system helps to make informed business predictions. If you want to grow your business, an FMS will help you strategize to meet your business goals while tracking income and expenses to help with financial planning. As stated earlier, financial management is at the core of your organization and it’s important to have the tools that will allow you to know what’s happening in day-to-day business operations.
Fortunately, accurate financial data reporting and secure self-service are just two benefits of a modern finance management system.