Why You Shouldn’t Wait to Automate AP When Migrating to Cloud ERPs
As we step into 2024, businesses are gearing up to make strategic investments that will propel them toward success in the new year. Among these investments, the decision to migrate from on-premises to cloud-based Enterprise Resource Planning (ERP) software holds significant weight. It’s a time for organizations to assess whether their current platforms align with their evolving business needs and objectives.
For businesses contemplating ERP system changes or upgrades in 2024, there are several crucial factors to consider: cost, features, capabilities, and more. However, amidst the evaluation process, it’s essential for leaders to recognize what an ERP system is not designed to do.
While ERPs play a pivotal role in enhancing team visibility and efficiency, they are not standalone solutions for accounting back-office operations. Many standard processes for Accounts Payable (AP) teams are not ideally executed within an ERP system. This is why independent software vendors specializing in AP automation often collaborate with ERP platforms to offer comprehensive solutions for accounting process efficiency. At first glance, simultaneously upgrading two platforms may seem daunting. However, it proves to be more convenient and yields immediate benefits when approached in tandem. Let’s delve deeper into why waiting to automate AP during ERP migrations can be a costly mistake.
The Hidden Disadvantages of Delaying AP Automation
Delayed Investment Returns
Postponing AP automation until after an ERP migration prolongs the timeline for decision-making, implementation, and training. This delay hampers efficiency as teams resort to manual tasks like invoice coding and approval chasing, hindering the realization of ROI.
Duplicated Efforts
Sequentially evaluating AP automation after ERP migrations leads to redundant assessments, stretching resources and elongating the evaluation process unnecessarily.
Extended Adjustment Period for Staff
Implementing new digital tools individually elongates the adjustment period for staff. Simultaneously introducing ERP and AP automation tools supports effective change management, shortening the learning curve and facilitating seamless integration.
When to Start Exploring AP Automation Partners
Since AP automation integrates with ERP systems, it’s advisable to engage an AP automation consultant once the ERP migration direction is finalized. Aligning the implementation timelines of both solutions allows for a coordinated go-live strategy, optimizing efficiency.
Features to Seek in Your AP Automation Solution
When selecting an AP automation solution to complement your ERP migration, consider the following features:
- Scalability – Opt for a solution that can adapt to your evolving business needs, ensuring long-term viability and return on investment.
- Platform vs. Point Solution – Choose a platform solution for comprehensive back-office automation, offering flexibility and scalability as your business grows.
- Robust Customer Support – Select a provider that offers dedicated customer support to address your automation challenges promptly and effectively.
Planning Ahead for Success
In conclusion, migrating systems presents both challenges and opportunities. By integrating a dedicated AP automation solution with your ERP migration, you can maximize the benefits of your tech stack improvements, streamline processes, and position your organization for sustained growth and success.
As you embark on your ERP journey, remember: the time to automate AP is now, not later. Don’t let delays impede your progress toward operational excellence and financial efficiency. Take proactive steps today to future-proof your business for tomorrow’s challenges and opportunities.
