Benefits of Specialised Electronic Document Management (eDMS) and Accounts Payable Automation (APA) Solutions
In today’s competitive business environment, efficient document management and streamlined accounts payable processes are crucial. While many ERP & finance systems offer integrated modules for these functions, specialised Electronic Document Management Systems (eDMS) and Accounts Payable Automation (APA) solutions provide significant advantages.
We often hear, “We already use an ERP/Accounts system with integrated eDMS or APA functionality, so why would we invest in your solution?” However, when we discuss our prospects’ document and accounts payable needs in more depth, it becomes apparent that the functionality is not specialized enough to deliver the transformational benefits a dedicated eDMS or APA solution can provide. An ERP/accounts system is a great all-rounder, and if the integrated solution they offer is fit for your purpose, we’ll be the first to tell you so. However, we advise always speaking to a specialist provider to ensure that is the case.
In the blog below, we highlight the difference between ERP/Finance systems and specialised eDMS and APA software. We also highlight the benefits specialised software can offer to your business. To discuss the potential benefits in more depth, contact us, and we’ll carry out a review of your current document management and accounts payable processes, the functionality offered by your incumbent ERP/accounts system, and then highlight the added value features and benefits we can provide. At least then you’ll have a clear and definitive answer.
Understanding ERP/Accounts Systems vs. Specialised eDMS and APA Solutions
ERP and Accounts Systems:
- ERP (Enterprise Resource Planning) Systems: Integrated platforms that manage core business processes, including finance, HR, supply chain, and more, within a single system. They offer broad functionality to support various organisational needs.
- Accounts Systems: These are modules within ERP systems focused on financial transactions, accounts payable/receivable, and general ledger management. They provide essential financial tracking and reporting capabilities.
Specialised eDMS and APA Solutions:
- eDMS (Electronic Document Management Systems): Tailored software solutions designed to efficiently capture/scan, store, manage, and track electronic and hard copy documents. They offer advanced features like intelligent data capture, workflow automation, and compliance management.
- APA (Accounts Payable Automation) Solutions: Focused on automating the accounts payable process, these solutions enhance invoice processing, approval workflows, and payment management. They eliminate data entry, ensure higher accuracy, faster processing times, and improved financial control.
Key Differences and Benefits:
Here’s why opting for specialised software can benefit your organisation:
1. Expertise and Focus
- Deep Expertise: Specialised providers focus exclusively on document management and accounts payable, ensuring their solutions are refined and feature rich.
- Industry-Specific Knowledge: These providers understand the unique requirements of various industries, offering tailored solutions and best practice insights that address specific challenges.
2. Advanced Functionality
- Intelligent Data Capture: Specialised eDMS and APA systems use advanced technologies like OCR (Optical Character Recognition) and AI to capture and process data accurately.
- Workflow Automation: These solutions provide robust workflow automation features, reducing manual intervention and minimising errors.
- Compliance and Security: They offer advanced compliance tools to meet industry regulations and ensure data security.
3. Customisation and Flexibility
- Tailored Solutions: Specialised systems offer greater customisation options, allowing businesses to adapt the software to their specific needs.
- Scalability: These solutions can scale with your business, supporting growth and evolving requirements.
4. Seamless Integration
- Interoperability: Specialised eDMS and APA solutions are designed to integrate seamlessly with a variety of ERP systems, ensuring smooth data flow and process efficiency. They are also often accessible from within your ERP/accounts system.
- Improved Data Accuracy: By integrating with existing systems, these solutions help maintain data consistency and accuracy across the organisation.
5. Continuous Innovation
- Ongoing R&D: Specialised providers invest in continuous research and development, ensuring their solutions incorporate the latest technological advancements and industry best practices.
- Regular Updates: Businesses benefit from regular software updates that introduce new features and enhancements.
6. Dedicated Support
- Expert Support Teams: Specialised providers offer dedicated support teams with deep knowledge of document management and accounts payable processes.
- Training and Resources: They provide comprehensive training and resources to help businesses maximise the value of their solutions.
Conclusion
Investing in specialised eDMS and APA solutions can significantly enhance your business operations. These systems offer advanced functionality, tailored solutions, seamless integration, and continuous innovation, leading to improved efficiency and productivity. By partnering with experts in document management and accounts payable automation, your organisation can achieve greater accuracy, compliance, and overall performance.
Work Smarter, Not Harder
At Enterprise Imaging Systems (EIS) we’ve been helping our clients save time, money and a whole lot of hassle for over 20 years. If you’d like to find out more about what our accounts payable automation software can do for your business, contact us today: Enterprise Imaging Systems | Free Trial – Enterprise Imaging Systems