Fragmented accounts payable systems are as effective as two people trying to row a boat in opposite directions.
- Information is incomplete or inaccurate
- Employees must rekey information from one system to another
- Information is not readily available to downstream systems
- Managers do not have visibility into the status of invoices
- The data required to resolve exceptions is not available
- Payments to suppliers are delayed or incorrect
Not surprisingly, 21% of businesses recently surveyed by the Association for Image and Information Management (AIIM) said that integrating front- and back-end systems as a top driver of their accounts payable automation initiatives.
Electronic invoicing solutions, such a NexusPayables, eliminate the challenges of fragmented accounts payable systems by seamlessly integrating with downstream systems.
- Users can leverage a single platform to manage all accounts payable information.
- Information residing in an enterprise resource planning or general ledger system is linked with invoices and other payables documents.
- The process of capturing, validating and managing invoice data is fully automated.
- Users can electronically access, sync and aggregate information between various systems and devices, with no duplication of content.
- Users can instantly access the information they need, regardless of where it resides.
- Accounts payable departments can more easily organize, manage, secure and share information.
NexusPayables integrates with a wide range of downstream systems. Check out the complete list of compatible ERP and GL systems here.