Shared Services | 4 Ways to Extend the Value of ERP Investments with AP Automation
Many enterprise resource planning applications (ERP) are not optimized. Accounts payable frequently relies on manual paper-based processes. Consequently, data fed into the ERP is incomplete, incorrect or not timely. The processes are inefficient, and decision-makers do not have access to key information.
The impact of manual and paper-based accounts payable processes is especially pronounced in the growing number of shared services centers. The invoice processing is more complex, and businesses are more likely to use multiple ERP applications in an operation, region, or worldwide.
In a shared services environment, functions such as accounts payable, accounts receivable and human resources are centralized and standardized, and systems are consolidated, so that processes become streamlined, more efficient, and less costly to run. A shared services organization differs from business process outsourcing, whereby functions such as data-entry that were previously carried out internally are handed over to an external third party outside the organization.
This whitepaper details:
- The growth of accounts payables departments operating as part of a shared services organization
- The challenges of manually processing invoices in a shared services environment with multiple ERP applications
- How an ECM solution works
- Extend ERP investments by integrating with an ECM solution