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A finance management systems are the software and processes used to manage income, expenses, and assets in an organization. In addition to supporting daily financial operations, the purpose of a financial management system is to maximize profits and ensure long-term enterprise sustainability.

Designed for creating, connecting, storing, and reporting many different types of finance transactions, a financial management system ultimately has one core purpose: counting money.

Quite simply, without some kind of accounting software, an organization would not survive. At the most basic level, every organization needs systems to manage the flow of money in and out of the business. But a truly effective financial management system can do more: optimize profitability, measure cash flow, determine tax obligations, ensure compliance, and maintain long-term enterprise sustainability.

Finance management systems includes the tools and processes that manage and govern income, expenses, and assets. An overarching goal for any financial management solution is to not only maintain an organization’s daily business, but to maximize profits and continuously protect financial data from fraud and theft.