Accounting system analysis results in an accounting system that is just right for your business. It also has other advantages:
Understanding: When you work with something every day, you tend to follow the same system that has been in place through habit. System analysis of your business from a transaction-by-transaction point of view, gives you a detailed perspective and understanding of the details of how information flows. This understanding can also help identify issues with the system that slow it down or create other inefficiencies.
Profitability: When you improve processes and remove inefficiencies, you find ways for the business to become more profitable. Visualizing how cash flows in the company give insights on improving it and cutting wasteful processes.
Benchmarking: One of the most useful benefits of accounting analysis is that the company can compare itself against the competition. It is difficult to see how your processes are compared to others when you operate in isolation. Analyzing your accounting system and comparing it to the industry standard tells you how your accounting processes and the system are compared to others in the same industry.
Resources: The optimal use of resources is important for a business. A successful business makes the best use of all the resources it has access to. The better the resources usage, the more advantages the business had. The impact of accounting software for business performance includes optimal resource usage.
Accounting system analysis helps a business analyze its accounting processes, compare it to the industry and improve itself for better performance.