Through your erp implementation projects, name the top pain points you have faced with financial modules?

Clear definition of requirements

Define gaps between your requirements and the processes as being implemented in your ERPand how are they going to be handled. Are going to adopt the ERP's processes or is the vendor going to modefy the system to match your requirements.

Understand the ERP setup parameters to ensure defining them to match your fainancial cycle

Ensure after sales support

Ensure availability of the reports you are using and learn the about the ones which you dont use

Work on implementing all ERP features to empower your competitiveness. This might require involving other departments.

Realize that financial process are part of the overall business processes. Select a fainancial system which could be upgraded to meet the requirements of the reset of the business units.

Prevent non-system usage. Continuous use of such tools indicates problems in your implementation

Before Implementing any ERP the companies Processes and Procedures should meet the level of ERP. Else ERP implementation is a failure.

Procedures and Processes includes

Billing Process, Collection Process, Overdue Proceudre, Period End Processes

Invoicing, Disbursement,

Cash Process

Fixed Assets Purchase and Disposal,

Preparing od Chart of Accounts

Preparing of Financial Statements

Management reporting , product cost component identification and implemention in manufacturing if detailed working not already done, reconciliation of COPA with financial reporting.