4 ways ECM extends your ERPs value

ERP systems are the backbone of an SSO’s financial operations, but if the processes touching these systems aren’t fully optimized then your ERP isn’t being leveraged to its full value.

Some SSOs have deployed Enterprise Content Management (ECM) systems as a single platform to capture, validate, route and manage AP data across their ERP systems.

A recent whitepaper from Hyland Software explores 4 ways that implementing ECM is beneficial:

1. Reduced operational costs. ECM cuts printing, shipping and paper storage costs by digitizing, validating and matching invoices against supplier and purchase order data in the buyer’s ERP or accounting systems. Preconfigured business rules ensure that invoice exceptions are automatically routed to appropriate approvers.

2. Enhanced visibility. Interactive dashboards provide visibility into every stage of the process, from receipt through validation, approval and posting, allowing users to monitor progress, identify bottlenecks, approve completed tasks, and reassign tasks.

3. Greater flexibility. Maintaining workflow tools across multiple ERPs can be inefficient and error-prone, leaving SSOs susceptible to increased operational costs. Integrating an ECM to manage workflows reduces these risks while allowing the organization to adapt and adjust processes according to change and growth. It can also increase approval capabilities by extending permissions to non-ERP users and allowing for mobile approval.

4. Faster cycle times. Invoice data is aggregated into a central workflow and electronically routed to approvers and purchasers, enabling buyers and managers to approve, reject or view invoices at any time, via any computer, laptop, smartphone or tablet.

The whitepaper also explores the problems and opportunities missed due to poorly leveraged ERP systems and how ECM systems work and integrate with ERP.

For more information about ECM systems, visit Hyland Software’s accounting and finance solutions page.