The Last Mile of ERP - Payables Transformation Strategies

In a growing business, ERPs are critical for tracking finance and accounting. They function as the system of record for collecting, storing, managing, and monitoring essential business data. However, ERPs are not designed for in-depth payables execution and process-heavy operations, and as a result, AP is often backfilled with staff.

Although an ERP can create purchase orders and store invoices from suppliers, it does not manage the nuances in the payables operation to create a closed-loop process. AP is consistently ranked by financial executives as the single most time-consuming function in finance. Payables ends up being the last mile that CFOs and controllers turn their attention to.

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