When you have plenty of enterprise resource planning (ERP) solutions to choose from — NetSuite, SAP Business One, Oracle ERP Cloud, AccountMate, and more — how do you choose the best?
In this article, we’ll compare the features and capabilities of Oracle ERP Cloud and AccountMate ERP to give you an idea of what you can expect from each software.
Oracle ERP Cloud is an all-in-one ERP suite designed to streamline enterprise business processes. It enables financial teams to manage multiple tasks from a single platform. AccountMate ERP offers a real time and customizable financial and business management solution built to accommodate hundreds of concurrent users.
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An overview of Oracle ERP Cloud vs. AccountMate ERP
Oracle ERP Cloud is a complete ERP solution comprising many different applications, namely Oracle Financials Cloud, Oracle Accounting Hub, Oracle Project Management, Oracle Procurement Cloud, and Oracle Risk Management Cloud. This software has a plethora of features for accounting, financial management, risk management, procurement, logistics, manufacturing, and supply chain. Oracle ERP is suitable for all business sizes, but most of its users come from mid-sized to large-scale businesses. This ERP has average-priced plans.
AccountMate ERP is a fully customizable, hybrid accounting and ERP software that provides multiple modules to streamline functions for businesses with a high volume of business transactions. This software was designed for manufacturers, distributors, non-profit organizations, public housing authorities, and global art museums. It has features for account receivable, account payable, bank reconciliation, business analysis, inventory management, payroll, manufacturing, reporting, upsell marketing, and customer relationship management. It’s best suited for small to mid-sized companies. It has high-end pricing.
Oracle ERP Cloud and AccountMate ERP both have features for accounts payable, accounts receivable, and reporting.
The accounts payable feature of Oracle ERP Cloud lets financial teams manage invoices, payments, accounts payable balances, and banking. With this ERP software, users can prepare and record payments, record accounting for payments, and process payment files. Users can also control the level of automation of a payment process request. The software allows users to view and edit the incomplete invoices, view the ones recently added, view or release holds and approvals, and review prepayments and payments due.
AccountMate ERP’s accounts payable feature automates a wide range of vendor-related tasks, providing users with the ability to effectively manage company expenditures. Teams get the option to require that invoices recorded in the system be supported by purchase orders and take advantage of early payment discounts. Financial teams get the ability to accrue landed costs and allocate them to purchased items. Payment authorization for multiple vendor invoices and prepayments can be done simultaneously with this feature. Teams can post credit card payments, process ACH transfers, or issue checks directly after an invoice recording. It can also print checks and generate an ACH file. The software tracks payments to various types of 1099 vendors and prints various 1099 reports. It allows users to record and amortize prepaid expenses.
Oracle ERP Cloud’s accounts receivable feature allows users to manage customer billing, funds capture, collections, revenues, bills receivable, and accounts receivable balances. This feature also lets teams process customer payments and receipts. It has functionalities for credit management, cash management and banking, and bill management.
AccountMate ERP also has an accounts receivable feature that offers a complete billing, receivable, customer, and inventory management system that helps teams provide customers with accurate and prompt service. The Sales Order, Inventory Control, Item Specification, and Pricing Control modules from AccountMate integrate with Accounts Receivable to create a complete order entry, sales returns, billing, and receivables system that delivers superior customer and inventory management.
With Oracle ERP Cloud, users can run different types of reports through the Financial Reporting Center. The Financial Reporting Center allows end users to access different report types. The software offers seven report types: Financial Reporting Studio Reports, Account Groups and Sunburst, Smart View Reports, Oracle Transactional Business Intelligence Analyses, Oracle Transactional Business Intelligence Dashboards, Oracle Business Intelligence Publisher Reports, and Business Intelligence Mobile Apps. To share a report in Oracle ERP Cloud, users can email them to other users, or they can upload it to the Financial Reporting Center where other users can download them to a local drive for use.
AccountMate ERP comes with user-friendly, intuitive, and relevant reports. These reports are developed using Microsoft’s SQL Server Reporting Services (SSRS) technology. The system’s report engine supports multiple sorting options for each prebuilt report. The sorting capability provides users the flexibility to produce more meaningful reports for better analysis. AccountMate offers a broad selection of prebuilt reports for different financial segments, including accounts payable, accounts receivable, bank reconciliation, consolidated ledger, general ledger, purchase order, and sales order.
Oracle ERP Cloud fully integrates with other Oracle software products. Additionally, it also integrates with applications for eCommerce, customer relationship management (CRM), event management, project management, and social networking:
AccountMate ERP has native integrations with platforms for eCommerce, time tracking, customer management, payment automation, and inventory management:
- TrueCommerce EDI Solutions
- TimeClock Plus
- Diversified Billing
The final verdict
Oracle ERP Cloud and AccountMate ERP can offer useful capabilities and features to organizations.
However, since Oracle ERP Cloud is a complete ERP solution, it naturally has more capabilities and features than AccountMate. These robust capabilities and features can be daunting for users to navigate. Oracle ERP Cloud is better suited for large companies with vast needs. AccountMate has simple but significant features that can be valuable for growing businesses.
If you want to check out more ERP solutions, use our Product Selection Tool to get a free list of trusted software vendors.