The ERP system is the heart of the business, pumping data through it to integrate and automate processes, and present trusted information to the people who make it run. Finance team members are power users and stewards of the systems, priming and pushing them for ever higher levels of efficiency, accuracy and business insights.
The accounts receivable and payments functionality ERP systems provide is mission-critical. That’s why it was good to see high levels of satisfaction with major ERP vendors across the board – Microsoft, Oracle, SAP, NetSuite, Sage Intacct, Infor and others – when it comes to how they help businesses invoice for, collect and reconcile cross-border payments in our survey of 250+ finance professionals helping to run global and soon-to-to global businesses.
But one point caught our attention: almost 9 out of 10 (89%) of the respondents said they thought their businesses could save money if more of the cross-border receivables process was integrated with their ERP system. And 88% of respondents said with the possibility of a recession, they need to improve their ability to get paid from their international customers.