Power of PAYBOX®
Providing Clarity on AP Automation for SAP Users
Automated accounts payable (AP) solutions are fast becoming the linchpin of the financial supply chain strategies of the Global 2000.
The operational and strategic efficiencies provided by an automated, “touch-less” work environment eliminate some of the biggest invoice management challenges and provide for a sound competitive advantage.
But despite the obvious benefits of streamlining AP processes, newly published research conducted by PayStream Advisors and sponsored by Direct Insite, shows that only 45 percent of large SAP users in North American have adopted automated AP solutions.
Why are such a vast majority of companies still relying on paper-based invoice processes?
The answer: While invoice imaging and workflow are considered mature technologies, the boom of new tools and solutions for AP automation is making it hard for companies to determine an appropriate place to start.
PayStream Advisors hopes its report provides clarity to SAP users.
Merging a new application with ERP systems can be intimidating, the research and advisory firm acknowledges. However, the scope of available invoice automation solutions today are easily integrated with systems on both the vendor and supplier side, according the PayStream Advisors study. In fact, companies that use SAP are offered targeted solutions that undergo a different testing regimen than most products and deliver a support portal connected directly to a certified partner.
The PayStream Advisors report concludes that this testing helps accelerate deployment.
Direct Insite’s PAYBOX® platform provides real-time integration into SAP ERP applications, automating the receipt and capture of paper and electronic invoices, managing workflows for routing transactions through approval processes, exceptions handling and dispute management, and enabling the distribution and processing of electronic payments.
These capabilities are proven to help Direct Insite users extend the value and reduce the total cost of ownership of their SAP ERP applications.
ERP applications remain the transactional backbone of the financial supply chain.
By providing real-time integration with SAP ERP applications, PAYBOX® provides businesses with greater visibility into the financial supply chain, better data synchronization and validation, and streamlined processing.
Importantly, PAYBOX® is an ideal springboard for financial supply automation initiatives.
To read the entire PayStream Automation Solutions for SAP study, click here.