It Just Makes Sense: Increase The Effectiveness Of Your ERP With Accounts Payable Automation
February 24, 2015
We said this before in our previous article and we’ll say it again: ERP and Accounts Payable Automation go together like peanut butter and jelly, Bonnie and Clyde, Sonny and Cher, and… well, you get the idea.
An ERP system automates and integrates core business processes such as taking customer orders, maintaining inventory records, generating financial data, and scheduling out operations to name a few. In this sense, ERP’s can drive massive improvements in the effectiveness of organizations by:
1. Assisting you in defining critical processes throughout your supply chain
2. Allowing you to plan your inventory and workload based on existing orders and forecasts
Ensuring your most important financial and accounting data is readily available to be incorporated into key decision-making processes
Automation enhances productivity – But an ERP’s value lies in its ability to be a “jack of all trades”, if you will. It can do a lot of things, but it may not have ALL the exact capabilities you’re looking for. Let’s take a look at the accounting systems within an ERP. Most ERP’s will have basic AR, AP, general ledger, and payroll functions. But, what if your CFO or Controller needs more functionalities and tools than your ERP system can offer?
ERP and Accounts Payable Automation
If you’re currently using an ERP or are thinking of adopting one for your organization, then you likely already know that strategic vendors are often called in to integrate extra features within an ERP to meet the unique business and industry needs of clients. For example, many of our current property management and resort customers are using phenomenal ERP systems and they STILL decided to incorporate Beanworks. Why? Because their Payables staff needed more tools and functions that just weren’t available within the ERP. Some of the features our clients love about having BeanworksAP within their ERP are:
1. One-click access to ANY invoice or PO, plus you can retrieve back up files with all images and associated data
2. Measure accounts payable workflow across all accounting and non-accounting users in the system to maximize efficiency and reduce bottlenecks
3. Online access anytime, anywhere with no user costs
4. All routing, communication, and digital image information is conveniently on the invoice
5. Match multiple PO’s to one invoice or multiple invoices to a single PO
The beauty of strategically integrating an ERP and accounts payable automation software is that you get to enjoy all the features of a robust ERP…with the added organizational and functional benefits of a more streamlined AP process. How can you say No to that?
Integrate Beanworks With Microsoft Dynamics GP For These Benefits
As more finance teams switch to electronic payments than ever before, here’s why you should consider Beanworks, which now integrates with Microsoft Dynamics GP.
Invoice Approval Process Best Practices to Modernize Your Accounts Payable
Practices such as having the same person approve invoices and payments can make it easier for any business to fall victim to fraud. After setting up approval channels for thousands of AP professionals, we recommend these best practices.
Getting Ready for the Digital Payments Phase
Payments trends from the past decade indicate that businesses are turning away from checks. According to the Association for Financial Professionals, 81% of B2B organizations used checks in 2004. In 2019, this was down to an all-time low of 42%.
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