{"id":8654,"date":"2022-10-10T14:58:42","date_gmt":"2022-10-10T13:58:42","guid":{"rendered":"https:\/\/rackbeat.com\/?p=8654"},"modified":"2026-02-02T17:05:12","modified_gmt":"2026-02-02T15:05:12","slug":"the-difference-between-an-accounting-system-erp-and-an-ims","status":"publish","type":"post","link":"https:\/\/rackbeat.com\/en\/the-difference-between-an-accounting-system-erp-and-an-ims\/","title":{"rendered":"What\u2019s the difference between an accounting system, ERP and an IMS?"},"content":{"rendered":"

Many companies utilize an accounting system such as e-conomic or Dinero to manage their finances. Others choose to use an ERP-system. Yet, what is the difference? And for what type of company will an Inventory Management System<\/a> yield the most value?\u00a0<\/span><\/p>\n

To make the picture clearer, let\u2019s explain the general terms.\u00a0<\/span><\/p>\n

Accounting systems <\/b>manage your cash flows, including VAT and tax reports, and lend a helping hand for your financial auditing. This feature can also be included in an ERP-system.<\/span><\/p>\n

Read more about Rackbeat\u2019s integration to e-conomic here<\/a>.<\/span><\/p>\n

ERP <\/b>(Enterprise Resource Planning) is a complete system or infrastructure allowing you to manage production, warehousing, purchasing, CRM and sales as well as finances. Thus, an ERP gives you a central hub for your business operations.\u00a0<\/span><\/p>\n

An ERP is often referred to as an accounting system; however, this is only a portion of what the system provides. As the name, <\/span>Enterprise Resource Planning<\/span><\/i>, suggests, the ERP incorporates all the company\u2019s resources.<\/span><\/p>\n

IMS <\/b>(Inventory<\/em><\/span>\u00a0Management System<\/span><\/i>) specializes in the administration of the warehouse and the path of the item throughout the supply chain. It provides you with an overview of your inventory and all the processes surrounding the handling of the product. A IMS can function independently, be integrated in the main ERP-system of the company, or be used alongside an accounting system.\u00a0<\/span><\/p>\n

Read more about IMS in our article <\/span>\u201cWhat is Inventory Management \u2013 and Why is it Important?\u201d<\/span><\/a><\/p>\n

 <\/p>\n

ERP and IMS are identical\u00a0 – or are they?<\/b><\/h2>\n

The two systems share a lot of characteristics, and they are also capable of fulfilling the same needs, to a certain extent. So why shouldn\u2019t you just handle your product flow in the ERP-system?\u00a0<\/span><\/p>\n

Intuitively, it may seem more profitable to handle your product flow along with the other functions in an ERP-system – especially if you already have invested in one; however, take a second to consider whether this is the ideal solution for your company.\u00a0<\/span><\/p>\n

\u201cThe first question we usually ask is: how critical is warehouse management for the value chain of your company? After all, it is the products that you profit from, and your warehouse management can make all the difference for your revenue.\u201d\u00a0<\/span><\/p>\n