AP Automation - Why Your ERP Needs Help with the Heavy Lifting
While your ERP solution can do a lot of things, it’s not built by AP Automation experts. ERP software includes workflows for many functional areas, and AP is only one of them. In fact, in the case of Microsoft Dynamics GP, AP is one half of one of six modules offered at the entry level. Here are 3 reasons why your ERP needs help with the AP heavy lifting.
1. Basic AP Processing Has Hidden Costs
Most ERP software is going to provide basic workflow support for AP processing. However, many invoices require exception handling that your ERP just isn’t built to manage. There are dark holes causing you increased invoice processing costs, including:
Late payment penalties
2. Your ERP Has a Long To-Do List
There are dozens of functional areas your ERP solution needs to support. But ERP software developers are not AP experts. Think about your most complex AP processing workflow. What does your ERP offer to manage it? It may be time to look for an AP automation solution provider that has:
Extensive AP processing know-how based on best practices
Expert knowledge ensuring a comprehensive solution
Long-term experience in complex AP automation implementations
3. AP Automation Makes It Easy to Go Beyond the Basics
The right AP automation solution should enable best practices and standardization with a flexible rules engine that can be customized with simple clicks. It should easily shepherd invoices through from input to payment with seamless ERP integration so that only clean and error-free data goes in your ERP of record.
Look for an AP automation solution, such as AP Center, with advanced intelligence including:
Duplication detection (even with different invoice numbers)
Invoice routing prioritization based on invoice properties such as payment due date or discount expiration date
Dynamic approval processing such as hierarchy support, thresholds, and payee to approver rules
Monitoring and management (e.g. expired approval time frame escalations and vacation proxies)
Don’t expect your ERP to be something it’s not. Help your ERP with the heavy lifting using intelligent AP automation that enables best practices with a flexible rules engine. Your AP team will go beyond your ERP’s basics with reduced validation errors and duplicates. Ensure your payments are made promptly and discounts are maximized with dedicated AP automation. Read the article, AP Automation - 3 Reasons Your ERP Won't Be Enough or Request Your AP Evaluation!
To ensure you’re not spending needlessly on AP processing, rely on the experts at ICM. With more than 100 years of collective experience, we can easily help you evaluate your ERP’s abilities, share our expert knowledge, and help you implement a more robust and intelligent AP automation solution.
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