It’s difficult to pick, implement and maintain a complex enterprise resource planning (ERP) system to better manage your resources and thereby optimize your inputs and outputs across many departments, from finance and HR to distribution, manufacturing, service, and the supply chain. That’s why the vast majority of ERP projects launched by companies fail to meet their expectations in terms of costs, timeline or results. We, at Yooz, believe every company - large or small - that wants to stay competitive in the Digital Age needs to optimize their automated financial systems to integrate with its enterprise resource planning ERP system.
Leveraging AP and ERP Automation vs Using an ERP System by Itself
To be fair, when an ERP is running properly it helps companies better understand how its key processes are running, automatically combining data from realms as diverse as accounting, human resources to the supply chain and even customer relationship management (CRM). However, connecting these respective data pipes and getting value out of such a complex automated system is, in short, a very challenging undertaking that requires extensive research, investment, and ongoing commitment. Here’s how Gartner describes what an organization should expect from an ERP implementation:
“Look for business benefits in four areas: a catalyst for business innovation, a platform for business process efficiency, a vehicle for process standardization, and IT cost savings. Most enterprises focus on the last two areas, because they are the easiest to quantify; however, the first two areas often have the most significant impact on the enterprise".
That’s why many companies we speak with might tell us they have already automated their processes with the ERP system they chose. And while it’s true that there are dozens upon dozens of ERP offerings, they often don't include all the features necessary to handle the entire purchase-to-pay (P2P) workflow from the moment an invoice comes in until an electronic payment is initiated.
We encourage companies to look closer at their AP functions because AP department is a world of its own with its own unique processes, workflows and challenges such as paper invoices, data entry and approval rules. Accounts payable needs more than a system that implements the planning and highlights challenges; it needs an AP automation software that will address the challenges through its actions while optimizing the plan for increased productivity and efficiency.
Who Does My Company Turn To for AP and ERP Automation?
You certainly don't want to change out your ERP system unless necessary so, when a company moves to automate, they want to work with a company already familiar with the ERP. Yooz has focused its R&D firepower on perfecting the accounts payable workflow for more than a decade. We built our unique, easy to use platform for the cloud and around the notion of zero vendor lock-in. Therefore, it doesn't really matter which ERP system your organization runs on.
After all, seamless and painless AP automation and ERP integration is not a cookie-cutter thing. And when you’re ready, our team of customer success managers, engineers and customer support specialists will help you with the entire integration process. They've seen many approaches to better manage what you can measure to help your AP team make money from paying bills and do so in less time.
We start with addressing your unique pain points and workflows by creating a unique implementation plan. Next, we develop customizable workflows that work seamlessly with the ERP of your choice and enhance your business processes. As a result, your company will experience lower costs, shorter cycle times, fewer late fees and more early-pay discounts, and - above all - increased visibility and better cash management for the entire company.
Sound too good to be true?
Companies leveraging Yooz tell us that our expertise pays off in dollars and cents because they save, on average, 80 percent in terms of time and money. That’s because being so well-connected yields almost immediate returns since it guarantees a smooth transition from just using an existing ERP to adding full-featured AP automation. And that makes a huge difference!
When Cloud-Based AP Automation is Truly ERP-Agnostic
ERPs come in many shapes and sizes. Some are simple and nimble affairs, tailored to the needs of small and midsized businesses (SMBs), others are powerful, big machines that let a multinational corporation track almost any input from purchasing and HR to marketing.
Yooz’s top-of-the-line AP automation software seamlessly connects to, currently, more than 250 ERP financial systems. That’s more than any AP Automation solution in the massive finance and technology industry! This enables you to integrate our smart technologies with ERPs like Sage Intacct, CDK and Intuit QuickBooks to Microsoft Dynamics and Oracle NetSuite, and many others.
We've also put special thought into developing solutions optimized for the needs and workflows of particular verticals such as the automotive space. That's why many dealerships integrate their version of an ERP, called dealership management systems (DMS) by Sage, CDK, or PBS, with cloud-based AP automation powered by Yooz. We hope you can see how flexible and customizable our state-of-the-art cloud-based AP automation solution truly is.
Yooz’s AP and ERP Automation Integration Means Fewer Errors and Higher Productivity
The benefits you gain from a full-on AP Automation solution are significant. No more paper invoices to manually key in or scan, no more hard copies to chase, archive or ship between locations, no more delays in matching invoices to purchase orders and GL codes, and no more hold-ups when approving invoices or initiating payments. Our machine learning technology takes care of it all and even gets better with every invoice it reads.
Such seamless and painless integration means with Yooz:
- The AP automation software pushes and pulls information to and from the ERP system instantly, so everything's always up to date.
- An image of each individual invoice is also pushed to an ERP system like Sage Intacct.
- The software talks to the purchasing module and pulls relevant purchase orders and recipients.
- In addition to invoices, the software pushes other document types to close a purchase order (P.O.) and updates the invoice to "paid" directly in the ERP system.
Yooz’s AP automation solution means fewer manual tasks, fewer errors, a higher throughput, and a shorter cycle time. Now, your AP staff has more time to focus on activities that add real value, such as building a meaningful relationship with suppliers and extracting financial intelligence from all the data sets accumulating.
Ultimately, if you’re not leveraging AP and ERP Automation together, you’re losing money and extra time from processing invoices or expense reports from suppliers, employees and other partners. Not to mention the extra time spent locating and matching the (hopefully) digitized purchasing orders and receipts, catching duplicates and erroneous submissions, and finally routing them for approval and payment. It’s a no brainer to stop using your ERP by itself and integrate it with Yooz’s cutting-edge cloud-based AP automation solution today.