ERP applications lie at the heart of financial operations. They manage an organization’s payment terms, supplier data, policies, Invoice information, and financial data.
Yet many ERP applications are not optimized because the Accounts Payable processes that feed them rely on manual, paper-based processes. As a result, data fed into the ERP is incomplete, incorrect or not timely, processes are inefficient, and decision-makers do not have access to key variables.
The impact of relying on manual, paper-based Accounts Payable processes is especially pronounced in the growing number of shared services centers, where invoice processing is more complex, and businesses are more likely to use multiple ERP applications in an operation, region, or worldwide.