Financial ERP Systems are a set of integrated software applications that streamline and automate several core operations and processes related to financial management. This type of system helps businesses handle their finances more efficiently, offering greater visibility and control over budgeting, cost management, accounts receivable and payable, payroll, asset management, and treasury activities. With an ERP system in place, companies are able to gain insight into their current financial standing, manage their cash flow better, make informed decisions faster, reduce costs, and increase profitability.