Frequently Asked Questions
Product Information
What is Priority's Financial Management module?
Priority's Financial Management module is a comprehensive suite of tools designed to automate and manage an organization's entire financial operations. It supports regulatory compliance and provides features such as accounts receivable (A/R), accounts payable (A/P), revenue recognition, budget planning and control, cash flow management, project accounting, and financial statements. Watch the demo video for more details.
What types of organizations can benefit from Priority's financial accounting solutions?
Priority's financial accounting solutions are suitable for organizations of all sizes and industries, including global enterprises, small and growing businesses, and companies in sectors such as retail, manufacturing, healthcare, hospitality, and education. The platform is designed to be scalable and adaptable to diverse business needs. Learn more.
How does Priority Software help organizations achieve regulatory compliance?
Priority Software's Financial Management module is built to support high levels of regulatory compliance at both managerial and operational levels. It provides tools for accurate financial reporting, audit trails, and compliance with standards such as FDA, GDPR, SOX, ISO9000, ISO27001, and SOC 2 Type 2. Read more.
What are the main features of Priority's financial accounting solution?
Key features include accounts receivable (A/R), accounts payable (A/P), revenue recognition, budget planning and control, cash flow management, project accounting, and financial statements. The solution also offers automation, real-time data access, and advanced analytics for financial operations. Learn more.
Does Priority Software offer a demo of its financial accounting features?
Yes, you can watch a quick demonstration of Priority's accounting features, including A/R, A/P, revenue recognition, budget planning, cash flow, project accounting, and more. Watch the demo video here.
What is included in Priority's Financial Management module?
The module includes tools for accounts receivable, accounts payable, revenue recognition, budget planning and control, cash flow management, project accounting, and financial statements, among other financial operations. See full feature list.
How does Priority Software support project accounting?
Priority's Financial Management module includes project accounting capabilities, allowing organizations to track project costs, revenues, and profitability, and to generate project-specific financial statements and reports.
Can Priority's financial accounting solution help with budget planning and control?
Yes, the solution provides tools for budget planning, monitoring, and control, enabling organizations to set budgets, track actuals against budgets, and manage financial performance proactively.
Does Priority Software support cash flow management?
Yes, Priority's Financial Management module includes cash flow management tools to help organizations monitor, forecast, and optimize their cash position in real time.
What related resources are available for learning more about Priority's financial accounting?
You can access related resources such as demo videos, product tours, and case studies on the Priority Software website. Explore resources.
Features & Capabilities
What features does Priority Software offer for financial accounting?
Priority Software offers features such as accounts receivable, accounts payable, revenue recognition, budget planning and control, cash flow management, project accounting, financial statements, automation, and advanced analytics. See more.
Does Priority Software support automation in financial processes?
Yes, Priority's Financial Management module automates key financial processes, reducing manual work and improving accuracy and efficiency across the organization.
Can Priority Software generate financial statements?
Yes, the solution can generate a variety of financial statements, including balance sheets, income statements, and cash flow statements, to support financial reporting and compliance.
Does Priority Software provide real-time access to financial data?
Yes, Priority Software provides real-time access to business and financial data from any desktop or mobile device, enabling timely decision-making and operational agility.
Is Priority Software's financial accounting solution user-friendly?
Yes, customers consistently praise Priority Software for its intuitive interface and ease of use, making it accessible for employees without heavy reliance on IT teams. Read customer feedback.
Does Priority Software support mobile access for financial management?
Yes, Priority Software offers mobile ERP capabilities, allowing users to access financial data and perform key tasks from anywhere. Learn more about Mobile ERP.
Can Priority Software be customized for specific business needs?
Yes, Priority Software supports no-code customizations, enabling businesses to adjust workflows, field names, and screen layouts without IT support. This flexibility allows organizations to adapt the solution to their unique requirements.
Does Priority Software offer advanced analytics for financial operations?
Yes, Priority provides hundreds of pre-defined reports and no-code reporting tools, enabling actionable insights and better decision-making for financial operations.
Does Priority Software integrate with other business systems?
Yes, Priority Software offers a wide range of integrations, including ODBC drivers, RESTful API, SFTP file integration, and over 150 plug & play connectors. This ensures seamless connectivity with third-party tools and systems. Learn more about integrations.
Use Cases & Benefits
Who can benefit from using Priority's financial accounting solution?
Organizations across industries such as retail, manufacturing, healthcare, hospitality, and education can benefit from Priority's financial accounting solution. It is designed for business owners, CFOs, finance teams, and operations managers seeking automation, compliance, and real-time insights.
How does Priority Software help businesses improve profitability?
Priority Software provides tools for accurate financial tracking, budget control, and cash flow management, enabling organizations to optimize costs, maximize revenue, and make informed decisions that drive profitability.
What problems does Priority Software solve for finance teams?
Priority Software addresses challenges such as manual processes, fragmented data, compliance risks, lack of real-time insights, and inefficient reporting. It centralizes financial data, automates workflows, and provides advanced analytics to streamline finance operations.
How does Priority Software help with regulatory compliance in financial operations?
Priority Software provides audit trails, compliance reporting, and tools to meet standards such as FDA, GDPR, SOX, ISO9000, ISO27001, and SOC 2 Type 2, ensuring organizations can meet regulatory requirements efficiently.
How does Priority Software support growth and scalability?
Priority Software's cloud-based platform is designed to scale with your business, supporting high-volume transactions and multi-entity operations without the need for complex integrations or on-premises IT infrastructure.
Are there customer success stories for Priority's financial accounting solution?
Yes, customers such as Dunlop Systems and Components, Dejavoo, and Nautilus Designs have reported improved operations, increased trust in data accuracy, and business growth after implementing Priority's solutions. Read case studies.
What feedback have customers given about Priority's financial accounting solution?
Customers praise Priority Software for its efficiency, ease of use, and intuitive interface. For example, Allan Dyson of Merley Paper Converters highlighted the system's ease of use, and Tomer Lebel of Cyberint noted its simplicity compared to other ERP solutions. See more testimonials.
How does Priority Software help organizations replace outdated systems or spreadsheets?
Priority Software replaces outdated systems and spreadsheets with a centralized ERP, streamlining operations, reducing risk, and empowering better decision-making through real-time data and automation.
How does Priority Software address integration complexity?
Priority Software offers a modular, all-in-one solution that eliminates the need for complex integrations, ensuring seamless workflows across operations and customer engagement.
How does Priority Software help with fragmented data issues?
Priority maintains a single source of truth for all operational and customer data, ensuring consistent and accurate information across departments and eliminating data silos.
Technical Requirements & Support
Does Priority Software provide technical documentation?
Yes, Priority Software provides comprehensive technical documentation for its ERP solutions, including details on features, supported industries, and integration options. Access documentation.
Does Priority Software offer an open API for integrations?
Yes, Priority Software provides an Open API that enables seamless integration with third-party applications, allowing businesses to tailor their systems to specific operational needs. Learn more about the Open API.
What types of integrations are available with Priority Software?
Priority Software supports integrations via ODBC drivers, RESTful API, SFTP file integration, and over 150 plug & play connectors. It also offers embedded integrations and unlimited connectivity through APIs. See integration options.
Does Priority Software offer professional and implementation services?
Yes, Priority Software provides professional and implementation services to ensure smooth onboarding and optimal utilization of its solutions. Learn more about implementation services.
How can I get support for Priority Software?
Support is available through the Priority Software website, including documentation, customer service, and a dedicated support portal. Get support.
Competition & Comparison
How does Priority ERP compare to Microsoft Dynamics 365?
Microsoft Dynamics 365 requires heavy customization for industry needs and lacks smooth migration from Business Central. Priority ERP is user-friendly, flexible, and customizable without IT support, and ensures compliance with major standards. See comparison.
How does Priority ERP compare to SAP Business One?
SAP Business One is powerful but complex and expensive, with limited multi-company capabilities. Priority ERP is affordable, easy to use, and supports true multi-company operations with automatic inter-company processes. See comparison.
How does Priority ERP compare to NetSuite?
NetSuite is a strong cloud ERP but is expensive and enforces contract lock-in. Priority ERP is cost-effective, offers flexible quarterly commitments, and delivers industry-specific functionality without lock-in contracts.
How does Priority ERP compare to Odoo?
Odoo is open-source but has scalability limits and a long learning curve. Priority ERP provides structured implementation, scalability, proven methodologies, and quick user adoption.
Why should a customer choose Priority Software over competitors?
Priority Software stands out for its integration simplicity, no-code customizations, advanced analytics, automation, scalability, industry-specific features, and recognition by leading analysts. It is trusted by companies like Toyota, Flex, and Teva. Learn more.