Accounts Payable Automation and ERP System
ERP or Enterprise Resource Planning is defined as business management software that companies use to collect and sort data, manage and analyze information, improve sales and customer engagement. The software can improve business processes affecting the following areas.
- Manufacturing and service;
- Accounts Payable Automation;
- Inventory management;
- Human resources;
- Supply chain management;
- Shipping and payment;
- Product development ;
- Customer service and more.
ERP systems that are implemented correctly can track available business resources in real time, identify deficiencies and react quickly to improve business processes. Multiple databases collect and supply information for further analysis providing advice to company management. Companies with multiple locations can view data from many sources integrated in one data hub that helps them to make better business decisions.
There are ERP systems that are more generic and can be implemented across different industries and different size companies. Often there are modules that can be used independently or be integrated with other software components depending on company needs. Company may be already using a module from one ERP system and needs to integrate a separate module from different ERP software to perform a certain function. It is usually a large investment in software and hardware, requiring financial planning and devoted company resources to integrate multiple components into fully functioning software.
Printech Global Secure Payment Solutions works with most ERP systems by integrating CheckPlusCFO software for accounts payable automation into existing environment. The system processes payments in secure way and issues checks or ACH electronic payments. The software integrates seamlessly with ERP system and enhances payment processing operations making it faster, less costly and more secure. CheckPlusCFO is a one step process of payments from multiple bank accounts, in multiple currencies, from multiple locations.
Many clients have a range of ERP systems to manage certain business processes that can be separate, non-integrated software modules. Secure payment software from Printech allows to take data from multiple sources, transform it into an import file and process it though CheckPlusCFO that can sort payments and disburse them in the format that the client requires.
The checks are issued on secure blank check stock, using MICR ink to print the MICR line and other secure elements on the paper. Printing is done using secure laser printers. Checks can be auto signed with signatures stored encrypted in the database or in the printer memory. There is also a visual sign component that allows multiple signors to approve the payment prior to it being processed. With ACH payments notification of incoming funds are automatically sent to the payee. The system has full audit log, user authorization and other security features that control access, ability to re-print payment documents and access reports and other sections of application. This allows for accounts payable automation on a company-wide level.
ERP implementation is a challenging task for any company. The first step in planning is to choose the software, either industry specific or generic with multiple modules. The list of companies that provide ERP solutions is huge including technology giants like SAP, Oracle, Microsoft Dynamics, Lawson, Great Plains, JD Edward, Salesforce and niche industry based software systems like Xtuple, Kinaxis, Datatex, Tribute, Epicor and others. Companies often work with consultants to identify the right software and mix of modules to acquire and implement within the organization. They analyze business requirements and company needs to deliver the best result to the end-user. Printech Global Secure Payment Solutions is often approached by technology consultants looking for accounts payable automation module. We have worked with such companies as IBM, CGI, Sonset, Pacific Office Automation and others who sourced CheckPlusCFO and helped implement it as part of the ERP system for their clients.
Company Leadership Approach in Accounts Payable Automation and ERP Implementation
Company leadership needs to understand the importance and benefits of an ERP system, considering large amount of resources devoted to this projects. A project manager needs to update the team on the status of implementation reguloarly and make sure that proper training is provided. There must be a certain definition of what is required of the ERP system and what is secondary as well as the plan and timeline of putting the modules to work. There must be an action plan to correct mistakes and failures of integrating modules, so that there is no loss of data and business interruption. All steps must be tested before integrating into production environment.
There is no doubt that an ERP system can significantly improve business processes. The key is to select the right software, align key people inside and outside the organization, plan phases of implementation and test every module to assure that it works seamlessly within the company system and creates synergies between departments and remote locations.