So, you’ve explored the great “Enterprise Platform or Point Solution” debate, and you’re leaning toward selecting an enterprise platform. With enterprise solutions’ impeccable scalability, flexibility, and a virtually endless supply of use cases in and beyond the AP department, it’s easy to understand the appeal.
Despite these benefits, you may still be on the fence. After all, “going enterprise” can be a time and money commitment, so it’s not a decision to take lightly. To help you envision what an enterprise platform could do for you, here are five reasons it’s worth the investment:
5 Ways Investing in an Enterprise Platform Will Improve Your Work Life
1. Keep Up with Your Expanding Workload
Implementing an enterprise platform like the AP Accelerator makes tackling an overflowing workload easy. When you face an expanding scope or workload, your platform can help you keep up by automating the repetitive, high-volume processes that once drained your time. This way, you can get it all done. While a point solution can only assist one specific function, an enterprise platform can extend its efficiencies to the many processes that run your AP department. As a result, you can enjoy improvements to multiple of the processes you interact with in a day rather than only one.
2. Adapt to Change
AP departments regularly face fluctuations in volume, suppliers, and other matters that affect their workload. Fortunately, enterprise platforms are highly adaptable. They offer tools that allow you to easily create additional workflows to fill your changing needs. Better yet, you can make these changes yourself without waiting for IT’s help.
3. Be Ready for Anything
Focusing on the bigger picture will allow your department to make the biggest impact possible on your organization. Enterprise platforms enable your department to do just that. Investing in an enterprise platform fulfills many purposes at once now and in the future. You can rest easy knowing that you’re not only solving the problems holding your department back now, but you hold the tools to face whatever issue arises next.
4. Solve Your Organization’s Unique Challenges
Enterprise platforms give you a competitive edge by letting you break free of standardization. Since point solutions offer little opportunity for customization, they take a “one size fits all approach.” The problem is that every organization is different when it comes to its process design, goals and mission, size, and more. By investing in a solution that conforms and adjusts to your unique needs, you can rise above the standard performance level of your industry peers.
5. Pinpoint & Solve Problems with Full Visibility
Most organizations sit on a huge supply of data that they don’t have the tools to use effectively. Your AP staff may even lack access to the information they need to respond to inquiries and make decisions. With enterprise platforms like the Naviant AP Accelerator, you can easily access vendor contracts, invoices, and receipts directly from your ERP system. You also get visibility into your data across processes. For example, these solutions give you insights into each stage of the AP process and cash flows.
You can even gain functionality like interactive reporting dashboards to get a real-time look into the status of invoice approvals and exceptions. This feature enables managers to reassign tasks, make approvals, and identify bottlenecks holding back processes. The ability to zero in on specific problems in your processes is invaluable. It will allow you to drive continuous improvement in real-time.
Unlock More Time for Things That Matter Most
Enterprise platforms like the Naviant AP Accelerator have long-term value, versatility, and agility, making them worth the investment. If you’d like to start on the path to enterprise success, drop a question in the chat. We’d be happy to help you determine your next step. And if you want to see AP Accelerator in action, click the link below for a quick demo.
Accounts Payable (AP) Accelerator
Learn more about autonomous capabilities and the Naviant AP Accelerator platform.
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