Complete financial visibility where it matters most
Priority's financial management ERP software provides powerful financial insights, empowering you to make strategic decisions with high accuracy and gain better control over your finances. With advanced capabilities in accounting, regulatory, cash and budget management, billing, revenue recognition, reconciliation and process automation, Priority's Financial Management solution boosts your operations and helps you achieve smarter workflow management.
Take a quick tour of revenue recognition to taste the power of our financial management tools
Priority's financial management ERP boosts operational performance
Key features
Embedded AI with aiERP
Priority's aiERP helps your teams work faster, make better decisions, and automate routine work without disrupting existing processes.
AI is embedded directly into the ERP, giving users answers, insights, and automation exactly where they work, reducing manual effort, accelerating decisions, and turning operational data into real, day-to-day business value.
With aiERP, users can interact with the system using natural language to query data, create business rules, and automate workflows; improve planning with AI-driven demand forecasting; optimize deliveries through intelligent route planning; generate smarter communications with AI-assisted content creation; and gain clearer visibility through AI-powered analytics, helping organizations respond faster, operate more efficiently, and stay in control as they scale.
Cash management
Optimize financial processes through real-time visibility into financial transactions and automate payment processing for better-informed decisions.
Conveniently manage financial tasks, including checking account balances, transferring funds, and paying bills, with digital banking.
Save time and effort and provide greater control and flexibility in managing company finances.
Manage revenue recognition effectively and gain a clear understanding of its impact on overall financial stability.
Billing
Bill customers easily based on best practices with various billing methods and functions, including project-based billing, recurring revenues, delivery-based billing, and revenue recognition.
Automate invoicing and cash flow management for streamlined control rather than relying on a labor-intensive, time-consuming, and error-prone manual process.
Profit control
Achieve greater profitability by efficiently controlling the profit of each business unit and identifying and reducing unnecessary expenses with real-time visibility into financial data.
Track and analyze expenses, make informed decisions about optimizing spending, and improve profitability.
Budget management
Manage and monitor the company's budget with real-time financial data visibility.
Analyze expenses throughout the procurement process, keeping the organization on track with its financial plan.
Revenue recognition
Record and report revenue accurately and transparently with our tools.
Manage revenue effectively and gain a clear understanding of its impact on overall financial stability.
Payments
Streamline customer payments with our fully integrated payment solution. Our smart tools and advanced payment functionalities support various payment methods, including credit cards, PayPal, ACH, and more.
Accessible from any platform, desktop, or mobile device, our solution ensures convenient payment processing anytime.
Financial statement generator
Effortlessly generate and customize financial reports with a powerful report-building tool.
Create income statements, balance sheets, profit and loss reports, trial balances, and supporting schedules based on data in the general ledger.
Fixed assets
Efficiently manage the fixed asset lifecycle with seamless integration to accounts payable, inventory management, and general ledger.
Calculate tax and book depreciation, manage sales, proposals, adjustments, and revaluations using multiple methods of business asset input.
Record asset data automatically in a fixed asset journal to streamline back-office asset operations management.
Case studies
FAQs
How does ERP impact financial management?
ERP has a significant impact on financial management by centralizing and automating financial processes within an organization. It integrates various financial functions, such as accounting, budgeting, invoicing, billing, and financial reporting, into a single cohesive system. This streamlines financial operations, reduces manual errors, and enhances data accuracy. ERP provides real-time visibility into financial data, enabling better financial analysis, forecasting, and decision-making. With a centralized database, financial information is easily accessible and can be shared across departments, improving collaboration and financial transparency. Additionally, ERP facilitates compliance with financial regulations and auditing requirements, ensuring financial data security
Can financial management ERP be used for accounting?
Yes, financial management ERP can be used for accounting. ERP systems often include a robust financial management module that handles various accounting functions, such as general ledger, accounts payable, accounts receivable, bank reconciliation, and financial reporting. These systems automate and streamline accounting processes, reducing manual efforts and errors. They offer real-time access to financial data, enabling accurate and up-to-date financial reporting and analysis. With integrated financial management capabilities, ERP systems serve as comprehensive accounting solutions that support efficient financial management, compliance, and decision-making within an organization.
What is the difference between ERP and financial system?
The key difference between ERP and a financial system lies in their scope and focus. ERP is a comprehensive integrated software suite that covers a wide range of business functions across an organization, such as finance, HR, supply chain, manufacturing, sales, and more. It facilitates data flow and information sharing between different departments, promoting efficient coordination and providing a centralized view of the organization's operations. On the other hand, a financial system is a software solution specifically designed to manage financial-related processes, such as accounting, budgeting, invoicing, and financial reporting. While ERP includes financial management as one of its modules, a financial system is more specialized and concentrated solely on financial functions. While ERP offers a broader and more all-encompassing approach to managing business operations, a financial system is specifically focused on handling financial data and processes.
Can Financial Management ERP handle compliance requirements?
Yes, Financial Management ERP can handle compliance requirements effectively. These ERP systems often include features and tools designed to support compliance with various financial regulations and reporting standards. By automating financial processes and maintaining accurate and auditable records, ERP helps ensure adherence to compliance requirements. It facilitates the generation of financial reports in line with regulatory standards and provides real-time access to financial data, making it easier to demonstrate compliance during audits. Additionally, ERP's role-based access control and data security measures contribute to maintaining the confidentiality and integrity of financial information, further supporting compliance efforts. Overall, Financial Management ERP systems play a crucial role in helping organizations meet their compliance obligations and minimize the risk of non-compliance issues.
Does Financial Management ERP facilitate multi-currency and international financial management?
Yes, Financial Management ERP systems facilitate multi-currency and international financial management. These ERP solutions are designed to handle transactions and financial data in multiple currencies, allowing businesses to conduct operations and manage finances in different currencies for international transactions. ERP's multi-currency capabilities enable accurate and real-time currency conversions, making it easier to record and report financial data in a standardized currency format. This functionality also supports international financial reporting, helping businesses comply with diverse accounting standards and regulatory requirements in different countries. With multi-currency support, Financial Management ERP systems are well-equipped to manage the complexities of international financial operations, providing businesses with the tools they need for effective global financial management.