What is SunSystems? Is SunSystems an ERP? How do you use the Sun accounting software? These are some of the many questions around SunSystems and on this page, we have answered them all.
For businesses with small or non-complex accounting processes, a no-frills solution that allows you to record what’s coming in and what’s going out is usually enough to take care of their financial management needs.
Once an organisation’s financial operations start expanding and their accounting functions start getting larger, it becomes necessary to use a financial management system (FMS).
This is where SunSystems comes in.
What is SunSystems?
SunSystems is a powerful, easy-to-use financial management software application with multi-currency and multi-company functionality. Better than almost any other accounting system of its kind in the world, SunSystems supports both local statutory accounting and corporate financial reporting to international standards.
As a result, it is trusted by over 9,000 customers from more 190 countries and across several sectors including oil and gas, hospitality, manufacturing, transit, healthcare, and the public sector.
Its ability to meet the intricate needs of growing organisations as well as its flexibility to adapt to complex requirements of established organisations means this software can be used by any enterprise no matter their financial management needs.
As a leading Core Accounting software designed for large size businesses such as multinational organisations, Infor SunSystems is deployable on-premise as well as in the cloud.
Is SunSystems an ERP?
Although some aspects of SunSystems can be made to perform the functions of an ERP, the software is not considered a full-on ERP. Instead, it is a complete FMS (Financial Management System).
To understand better, here’s a brief explanation of the difference between ERP and FMS.
The Difference Between ERP and FMS
ERP (Enterprise Resource Planning) is software used by organisations to manage day-to-day business activities and to integrate various functions — such as supply chain operations, inventory, accounting, human resources, customer relationship management (CRM), distribution, manufacturing and so on — into one complete system.
This helps to streamline processes and information across the entire organisation.
On the other hand, FMS refers to the software, methodology, and processes used to manage income, expenses, and assets of an organisation. An FMS helps businesses to reduce accounting errors, speed up accounting workflows, and ensure compliance with applicable accounting standards.
Sun Accounts is dedicated specifically to the management of financial and accounting processes. This focus allows it to cover broad and deep operational end-to-end financial workflows, such as those found in inventory, sales, purchasing, and fixed assets management, making it a truly multifunctional financial management system.
Additionally, SunSystems can easily integrate with other operational systems. It does this using 3 major tools including:
- Reporting Tool to push data back into SunSystems
- Transfer Desk to setup and create automated schedules to pull data across
- SunSystems Connect API
This level of integration makes data sharing a breeze, plus it extends SunSystems’ functionality and capabilities.
SunSystems’ Key Capabilities
While SunSystems can support almost any use case as relating to financial management and accounting operations, here’s a highlight of its key capabilities.
Multifunctionality: Sun accounting system comes with built-in tools for purchase management, fixed assets management, corporate allocations, inventory management, and sales & order management.
Unfettered integrations: SunSystems’ comprehensive offering allows for integration with other business systems such as procurement, banking, payroll, human resources, and so on. This eliminates the long process of transferring Excel spreadsheets manually among systems.
Real-time data visibility: As the solution is able to connect seamlessly with other enterprise software, it enables businesses to obtain a centralised, real-time view on the current performance. It’s capable of integrating data across the entire organisation so that employees can have easy access to information in real-time and management can make data-driven decisions fast.
Automation: SunSystems lets you focus on value-added tasks by automating manual processes. This helps in reducing the amount of time spent on financial workflows and eliminates human errors.
Compliance: With built-in audit trails, comprehensive data reconciliation, and alerts, SunSystems gives you the ability to manage complex international financial reporting standards (IFRS), generally accepted accounting principles (GAAP), as well as ensuring your company stays compliant with other local statutory and regulatory requirements.
Extended analysis: The software’s in-context analysis quickly makes sense of the data your organisation generates, turns them into actionable insights, and presents the same to the end user via a dashboard with a snapshot display.
Excellent reporting capabilities: With SunSystems, new financial reports can be generated in minutes. This provides a way to quickly oversee your business’ inflows and outflows, or even the monthly and yearly summaries of your financial transactions.
Getting Started with SunSystems
To get a deeper understanding of how SunSystems can transform your business, it helps to get in touch with a reliable SunSystems Partner who will review your unique business needs and provide a custom-tailored recommendation and solution.