AP software as a stand-alone application is a specialized, time-and-money-saving tool. When integrated within a comprehensive Enterprise Resource Planning (ERP) solution, it becomes an invaluable asset that helps improve a company’s productivity and bottom line.
An ERP solution stores, synchronizes, and connects data from every department within a business, providing team members with the same, updated information. If the ERP solution is cloud based, they can access the information from wherever they are—24/7, 365-days of the year.
Having an integrated AP module within the ERP solution opens the door to increased functionality, such as accessing drill-down reports (including AP aging reports) and personalized dashboards for viewing past information that supply insights into current and future performance; setting default accounts, subaccounts, payment terms, and discounts by vendor; and supporting multiple AP accounts in the GL.
The right ERP solution provides additional features and capabilities. These may include support for multiple currencies, the ability to create recurring payments, and complete auditing functionality—from correcting mistakes without deleting or canceling documents to capturing user identification. And because vendor security is crucial, the right ERP solution will help control access through role-based permissions.
With an integrated AP and ERP solution, intelligent payment processing and complete visibility into all financials is possible with a click of a button.
“With everything built-in [to Acumatica], our invoices now directly populate into our revenue and onto our P&L, and executives can pull information at any point in time. They can see how profitable we are this month. They can see what we’re purchasing. They can have many questions answered at any point in time.” – Amanda Datte, CFO, Clive Coffee