An enterprise resource planning (ERP) platform is the financial nerve center of a business. However, there are many businesses where the ERP system is not fully optimized because of a lack of integration with the accounts payable systems and processes that feed them. Businesses rely on staff to rekey information into their ERP systems, a labor-intensive and time-consuming process that inevitably results in avoidable errors (such as duplicate payments and payments sent to the wrong address).
As a result, businesses miss out on the full return on their ERP investments, and do not have all of the information they need to ensure their company’s operational and financial health.
The good news is that automating AP with the right technology solves this problem. AP solutions such as NexusPayables seamlessly integrate with a company’s ERP system without burdening a company’s IT staff or requiring expensive customization.
Seamlessly integrating an accounts payable solution with an ERP platform:
- Allows for the automatic synchronization of data between the systems
- Eliminates data entry to post invoices
- Completes data validation before delivery to the ERP
- Provides a faster and more affordable workflow alternative to that in an ERP
- Controls file validation to ensure that complete data is passed to the ERP
- Provides 360-degree visibility into invoices
- Enables businesses to quickly add capabilities such as electronic invoicing
What’s more, integrating accounts payable with an ERP system facilitates better enterprise visibility. Users can easily evaluate and compare financial data for companies, regions, or business units; track budget consumption; forecast and budget based on actual spend; and access compliance metrics.