4 Ways AP Automation Maximizes the Value of Your ERP
4 Ways AP Automation Maximizes the Value of Your ERP: ERP (enterprise resource planning) applications lie at the heart of financial operations, but many aren’t optimized because the accounts payable (AP) processes that feed them are manual and paper-based. That can lead to:
- Incomplete or incorrect data being fed into the ERP
- Staff not having access to information they need to make decisions or respond to inquiries
The impact of manual, paper-based AP processes is even worse for shared services centers, where operations are growing increasingly complex.
- 1 in 5 businesses say operating AP as part of a shared services organization is the biggest reason for increasing AP complexity.
- Nearly 40% of businesses operate multiple ERP applications in single or multiple locations.
Businesses cannot afford to have their shared services initiatives undermined by fragmented systems. This is why more regional and global shared services organziations automate their AP processes with enterprise content management (ECM) platforms that seamlessly integrate with their ERP applications.
4 Ways AP Automation Maximizes the Value of Your ERP
ECM platforms extend the value of ERP systems in 4 ways:
-
Reduced operational costs – This is done by eliminating manual data entry by digitally validating invoices against data in the ERP (enterprise resource planning). You can also reduce the costs of printing, shipping and storing paper, and last but not least you can also lower the spend on costly ERP licenses and training for end users.
-
Enhanced visibility – Retrieving invoices, goods receipts and vendor contracts directly from your ERP; Provide insight into every stage of the AP process, from receipt through validation, approval and posting; and monitoring progress, reassign tasks and identify areas for improvement with reporting dashboards.
-
Greater flexibility – Easily create and adjust workflows to satisfy complex business needs; Extend approval rights to non-ERP users without providing direct access to the ERP; Support and connect multiple ERP applications with one ECM platform.
-
Faster cycle times – Achieve end-to-end automation by capturing invoice data as early as possible and integrating it with your ERP; Enable buyers and managers to approve, reject or research invoices at any time via computer, laptop, smartphone or tablet; Ensure invoices always reach the appropriate staff while enforcing control policies.
Want to learn more about our digital solutions? Ready to go digital and don’t know where to start? Contact a local BSC representative at 205-988-3300 or info@bscsolutions.com for more information.