PostedOn: 2017-04-05 14:42:38
As financial organizations continue to expand and merge globally, many of them are leveraging multiple systems to handle accounts receivables processes. To avoid overlapping platforms and disparate systems, careful ERP integration with new corporate technologies or platforms can help make available advanced accounts receivables functionality.
The Advantages of ERP Integration with New Technology
To help bridge the gap between systems, new skill should be fully compatible with an organization’s existing ERP system. This technology should not only complement an already-implemented system but it should also work to transform processes and financial supply chain performance.
Supplementary benefits of ERP integration with a new platform:
- Complete View of Customers and Accounts. A big advantage of integrating ERP systems with new technology is that you gain clear and consolidated information about your customers. Integrated systems give you complete visibility into financials, account standing, invoice distribution and more. This knowledge not only provides you with better insights into your business but also helps you identify areas and processes that have room for improvement.
- Better Business Processes. Without an integrated solution, personnel is bogged down by tasks that are tedious, time-consuming and burn through company resources. But ERP integration with new technology unifies systems, improves productivity and increases workflow by enabling platforms to operate in a cohesive manner.
- Reduced Operational Costs. Most decision-makers have shied away from introducing new technology to their organizations due to the high costs of implementing and training employees on a different platform. But integrating a new solution with existing ERP systems mitigates the need for an ERP re-platform, as well as investments in new hardware. Additionally, with a lesser need for manual data entry and invoice preparation, departments can cut down on labor costs and better allocate personnel.
Integrating new technology with ERP systems generates positive, bottom line business outcomes for financial organizations and simplifies outdated processes that until recently have only slowed you down.