Downloads
White Paper: Custom-Built Solutions Or Best-Of-Breed Applications?
Benefits of Financial Process Automation
The benefits of end-to-end financial process automation are
well established:
- reduced invoice-capture costs
- faster cycle times
- lower error rates and less time to dispute resolution
- strengthened internal financial controls
- greater process transparency
These are the dividends of dramatic process improvements, which also enable organizations to achieve strategic goals such as the implementation of efficient and effective Shared Service Centers, enhanced service levels to lines of business, faster fi nancial closing times, optimized planning and reporting, and improved cash management. While organizations are highly motivated to reach these goals, the question is often where to begin.
As the repository for all financial data, the ERP is integral to enabling financial process automation. While the ERP does not typically support complete, end-to-end financial processes, it is the financial backbone of the enterprise. Automation requirements should start with an assessment of the ERP's role, specifically which of its data elements are to be leveraged throughout the process, and what capabilities are required to augment the ERP environment.
The content you requested is only available to registered users of ECM Connection. By registering now, you'll get access to this piece of content and thousands of additional articles and product reviews across our entire network of sites.
