Controls you can evidence
Approval thresholds and segregation of duties enforced in the system produce the evidence pack rather than requiring one to be assembled.
ERP for Financial Services
Why an ERP is best practice for financial services firms
A practical look at what an ERP does for a regulated financial services business, where the value sits, and how to choose a platform that stands up to audit and regulatory reporting.
Overview
What an ERP does for a financial services firm
Financial services firms are judged on the quality of their records. A control that exists in practice but cannot be evidenced is, to a regulator, a control that does not exist.
An ERP (enterprise resource planning system) puts the firm's own finances, approvals, revenue recognition and reporting into one governed system with a complete audit trail behind every entry.
It sits behind the front office rather than replacing it. Platform, policy and portfolio systems keep doing their job; the ERP handles the firm's accounting, controls and consolidated reporting.
For most financial services firms, an ERP is where the following live:
Benefits
Why your financial services business needs an ERP
In a regulated firm, the value of a system is measured by what it lets you prove.
Audit trail on every entry
Who posted, who approved and what changed is recorded automatically, which turns external audit into a shorter and cheaper exercise.
Revenue recognised correctly
Fees, commission, trail and retainers recognised over the right period rather than adjusted manually at each quarter end.
A faster, more predictable close
Automated reconciliation and accruals shorten the reporting cycle, which matters when regulatory deadlines are fixed.
Profitability by team and product
Allocating cost and revenue to desks, advisers or product lines shows where the firm actually earns, not just what it bills.
Group structure handled properly
Multiple regulated and unregulated entities consolidated with intercompany handled automatically instead of in a spreadsheet.
ERP stats
Why your financial services business needs an ERP
Data taken from a survey we commissioned in December 2024. Click here to view
0%
of businesses are utilising an ERP
0 in 0
businesses are dissatisfied with their current ERP
0%
of businesses say using an ERP has contributed to achieving business outcomes
In practice
What this looks like in financial services
Six everyday situations where one connected system changes the outcome.
01
A supplier invoice arrives
It routes to the right approver against a spend limit, posts on approval and carries its own audit history, with no manual log to maintain.
Choosing an ERP
What to look for when comparing ERP platforms
Regulated firms need controls that hold up under scrutiny. These are the questions worth asking before you shortlist.
Does it cover the whole operation?
Finance, purchasing, stock, projects and reporting should sit in one system. Anything left in a spreadsheet quickly becomes the version everybody argues about at month end.
Does it fit how you actually work?
A system designed for a different sector rarely suits regulated financial services firms. The platform should reflect your real processes, approvals and cost structures rather than forcing a rewrite of how you operate.
Can you close and report faster?
Consolidation, reconciliation and management reporting should be routine rather than a fortnight of manual work. Ask to see a month end demonstrated, not described.
Does it stand up to audit?
Role-based permissions, approval workflows and a complete audit trail should be built in, so compliance is a by-product of daily work rather than a separate exercise.
How long until it is live?
Cloud platforms with standard processes go live in weeks rather than years. A long implementation is usually a sign the system is being bent into shape.
Will it grow with you?
New sites, entities, currencies or product lines shouldn't need a replacement system. Check licensing and functionality for where you expect to be in five years.
Our recommendation
Introducing Business Central - the perfect ERP for financial services
Once you know what an ERP should do, the question becomes which platform fits how your teams already work. Microsoft Dynamics 365 Business Central brings finance, controls and reporting into one cloud system connected to the Microsoft tools your firm already runs on.
For financial services firms that means multi-entity and multi-currency accounting, deferral and revenue recognition schedules, role-based permissions with approval workflows, and Power BI reporting on profitability by team, product and client.
It runs on Microsoft Azure with the security, retention and compliance posture regulated firms are expected to demonstrate, and connects to Dynamics 365 CRM where client relationships need to sit alongside the numbers.
Why Business Central
The features that make Business Central the right fit
It isn't just an accounting package. These are the capabilities teams tell us make the biggest difference day to day.
Finance and reporting in one place
Ledgers, budgets, cash flow and management reporting run from the same data, with Power BI dashboards leadership can open themselves rather than waiting for a pack.
Copilot built in
AI drafts descriptions, reconciles bank entries, chases anomalies and answers questions about your data, taking a chunk of routine admin off the finance team.
Native Microsoft 365 connection
Approvals, quotes and reports work inside Outlook, Teams and Excel, so people use the tools they already know instead of learning another interface.
Automation without developers
Approvals, alerts and handovers can be automated with Power Automate using low-code tools your own team can maintain.
Security and audit trails
Role-based access, approval limits and full traceability protect the financial and operational data regulated firms are accountable for.
Modular and scalable
Start with finance and operations, then add supply chain, projects, service or Dynamics 365 CRM as you grow - without another migration.
FAQ
Frequently asked questions
Client money is usually held and reconciled in a specialist platform. The ERP accounts for the firm and can reconcile against those records, which is the split most regulators expect to see.
A system-enforced audit trail, approval workflow and segregation of duties are exactly what auditors test. Firms typically see fewer queries after moving off spreadsheets.
Yes. Each entity keeps its own ledger and statutory reporting while the group consolidates automatically, with intercompany posted on both sides.
Recurring revenue and deferral schedules recognise income across the correct periods rather than requiring a manual journal each month.
It runs on Azure with encryption, role-based access, retention policies and the certifications a regulated firm needs for its cloud due diligence.
Enquiry form
Not sure which ERP is right for your financial services business?
Tell us how your finance function and reporting work today and we'll talk through what an ERP would change, which capabilities matter most and where to start. No obligation, just a straight conversation.