Can Paperless Accounts Payable-ERP Tech Integration Boost Operational Advantage? Three Critical Data Points

Ever since America’s first business opened its doors hundreds of years ago, accounting has had a major influence in successfully moving businesses forward.  In fact, accounting’s role in efficiently obtaining and paying for what’s needed to run the business, and ensuring prompt and accurate receipt of goods and services in return, is the foundation of modern commerce. 

That foundation is at its best when accounts payable (AP) automation such as document capture, workflow, and archiving is fully integrated with enterprise resource planning (ERP) solutions such as the Microsoft Dynamics suite.  ERP integration puts accounting in the best position to use the efficiency and visibility AP automation cultivates to empower the C-suite to make sound, informed decisions. The accounting function also is best positioned to elevate itself from cost center to revenue driver by enabling leadership to drive measurable return on the organization’s ERP investment.  

Metafile recently commissioned an MSDynamicsWorld survey of 240 Microsoft Dynamics users to determine the extent to which respondents in a variety of industries may or may not be leveraging technology – either paperless AP, ERP, or both – to manage accounting documents and workflow.  Can Paperless AP/ERP technology integration help boost operational advantage?  Consider three critical survey results: 

• Use of any kind of AP automation technology is expanding.  Close to 67 percent of respondents take between one and five days to process invoices using a blend of paper-based activity and AP document management technology.
• On its own eliminating paper isn’t a cure-all solution.  Timely invoice processing continues to be a critical challenge facing more than 40 percent of respondents.
• AP/ERP technology integration is a universal goal.  While relatively few respondents are employing Paperless AP/ERP technology integration in its entirety, integration is the priority identified as most likely to improve the Microsoft® Dynamics experience. Integration is also identified by nearly half of the sample (43.3 percent)  as a priority over the next one to two years.

What does this mean to the AP profession? Quite simply, organizations looking to take their AP operations to the next level – emphasizing processing speed using quality data – can and should gain an operational edge by making Paperless AP/ERP technology integration a top priority.

By emphasizing the technology’s integration with the organization’s ERP solution, the accounting function can best leverage the efficiency and visibility AP automation technology creates to immeasurably elevate its role from a simple completer of tasks to a partner and trusted advisor helping the C-suite make the best and most strategic business decisions.

By Nick Sprau, MetaViewer Paperless ERP for Microsoft® Dynamics

Can Paperless Accounts Payable-ERP Tech Integration Boost Operational Advantage? Three Critical Data Points is a post from: ERP Software Blog

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