ERP applications lie at the heart of financial operations, but many aren’t optimized because the accounts payable (AP) processes that are involved are manual and paper-based. As a result, this can lead to:
- Firstly, someone may have fed incomplete or incorrect data into the ERP.
- Additionally, staff may not have access to information they need to make decisions or respond to inquiries.
Fragmented systems undermine businesses’ shared services initiatives, and this comes at a great cost. As a result, more regional and global shared services organizations automate their AP processes with enterprise content management (ECM) platforms that seamlessly integrate with their ERP applications.
An ECM platform extends the value of ERP systems in 4 ways:
- Reduced operational costs
- Enhanced visibility
- Greater Flexibility+
- Faster Cycle Times