ERP Accounts Payable for Cash Flow Improvement

Posted by Gerry Poe

A state-of-the-art ERP Accounts Payable system provides an efficient method for recording purchases and supplier invoices and automating expense distributions.

When you evaluate the accounts payable module in an ERP system, here are absolute essentials you must find:

  1. The best ERP options can have accounts payable installed; integrating with other modules in an ERP system. Such as Purchasing, Cash Book and General Ledger.
  2. Facilities for maintaining, verifying and reporting supplier account information.
  3. The ERP software system accounts payable module offers optional two-step invoice entry which allows users to enter, approve and then pay an invoice.
  4. Essential is the ability to have extensive audit trails and journals form an integral part of the module.
  5. Against each supplier, invoice and transaction details are retained from which cash requirements, forecasting and purchase analysis may be printed.
  6. Suppliers can be held in local or foreign currency and multi-branch accounting is available.
  7. In addition, free-format checks and remittances can be designed for laser or forms printers.
  8. Very important is taking your discounts.  Being informed of discounts available for on-time or early payments is a "revenue" stream you can't afford to ignore.

With this list of requirements in mind, the market place narrows to the top choice as SYSPRO.  SYSPRO ERP software includes all off the above requirements and continues to stand out as "best in class" with awards each year.

If you would like to know more about how to turn your accounts payable systems from functional (or painful) to streamlined where cash flow can improve, download the Accounts Payable Fact Sheet:

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Tags: ERP, Accounts Payable, Factsheet, SYSPRO

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