Your ERP Can't Do It All
Your ERP system is the financial backbone of your company but you can’t expect your business to run on that alone.
Understand the implications of relying solely on an ERP system for managing your business spend and explore ways to optimize operations.
Eliminate the Gap Between Your ERP and Complete Financial Control
Your ERP system is the financial backbone of your business and it’s great at managing the back office functions you need for finance. But when it comes to eliminating the manual, paper-based accounts payable processes for requisitioning, invoicing, managing working capital and expense reporting - it just can't do it all.
The Problem with an ERP Alone
- Do employees bypass cumbersome systems, hindering financial control?
- Is your Accounts Payable team swamped with paperwork, risking duplicate payments and late fees?
- Do you have financial blind spots in your reporting?
- Is your ERP leaving money on the table by missing out on early payment discounts, supply chain financing, or treasury management?
Discover more reasons why your ERP can't do it all.
FAQ
Why can't an ERP system handle all the financial needs efficiently?
Your ERP system is valuable for managing various financial back-office functions. However, it often falls short when it comes to streamlining manual, paper-based accounts payable processes for requisitioning, invoicing, working capital management, and expense reporting. Download the eBook to discover a solution to address these shortcomings.
What are the key limitations of ERP systems in accounts payable automation?
ERP systems are not designed to provide end-to-end accounts payable (AP) automation. They struggle to adapt to the unique needs of your AP team, leading to inefficiencies such as paperwork, duplicate payments, and late fees. Additionally, they tend to provide a one-size-fits-all approach, making it challenging to transition suppliers to electronic invoicing. Coupa's Procure-to-Pay (P2P) platform provides a tailored and efficient solution to these issues.
How can I future-proof financial processes for evolving business needs?
The future is uncertain, and businesses need adaptable solutions. To ensure your financial processes remain robust and scalable, look for a platform that is easy to configure, integrates seamlessly with other systems, offers secure access controls, and provides detailed reporting. This adaptability allows you to respond effectively to changes in your business landscape and achieve long-term growth and efficiency goals.
We are currently using Oracle as our ERP and we're using it as our requisitioning system but only about 50% of our purchases were even managed through Oracle and it was a very clunky system that wasn't working. So my challenge was to find the right solution to get us on board and rolling with a system that could help us reduce our spend and manage our inventory, and we found it with Coupa.
