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The ERP system is the transactional backbone of the enterprise, the center of awareness for transactional information. Most complementary AP solutions claim to be “integrated” with the ERP when in reality their software duplicates ERP enterprise information, business logic and functionality, leading to inefficiencies and errors. Real-time ERP system integration insures the ERP is the “single source of the truth” with no duplication of enterprise information, business logic or functionality.
The best practice AP solution delivers real-time transaction entry. Upon receipt, the invoice is entered immediately into the ERP. The less integrated approach leaves the ERP unaware of the invoice from receipt until approval, when it is finally entered in the ERP system. With real-time integration, all workflow data is visible from within the ERP. Inquiries are answered with real-time ERP and workflow status information. This approach also ensures the accuracy of financial reporting.
"Single source of the truth" means that absolutely no data is duplicated. The ERP system should be the "single source of the truth" for the following:
Integrated, real-time solutions leverage enterprise information maintained and stored in the ERP system, and utilize ERP business logic to validate entered information. Solutions that duplicate data and business logic present problems with data synchronization and logic mismatches, resulting in increased errors.
Finance and procurement professionals’ daily activities are centered on ERP applications. Therefore, they expect new capabilities to be provided in a complementary environment, not a different paradigm. At the same time, business users who review, code and approve invoices usually have little knowledge of the ERP user environment; their workspace preferences are likely to be web browsers. The solution is to provide new capabilities through seamlessly integrated workspaces specifically designed for each type of user.
MarkView for Accounts Payable leverages the full power of Oracle and SAP investments by streamlining and automating the business processes that interact with these powerful ERP systems. Best practice workflows eliminate unnecessary steps and optimize processing by all participants. MarkView's real-time ERP system integration provides a compelling return on investment with a rapid payback and has dramatically improved the financial business processes of the world’s leading organizations.
Contact us now for a copy of the ROI white paper or click on the link below to learn more about MarkView solutions.
