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Accounting is a fundamental building block of your business. However, for many years, accounts receivable (AR) and accounts payable (AP) functions remained largely unchanged. As a result, they suffered from three primary issues: siloed information, disparate systems, and error-prone manual processes.
Recently the future has arrived for these essential tasks. In a report ranking different applications for AP management, the market intelligence firm IDC explains that innovative technologies like cloud, machine learning, and advanced analytics are taking hold in multiple areas of the business – and those changes are clearing a path for accounts payable to overcome those primary issues discussed.
Furthermore, in the report, IDC positions SAP as a leader in the category of worldwide cloud and SaaS ERP AR and AP applications.
“SAP views its solution as a comprehensive receivables and payables management offering, which also features fully integrated options within its SAP Ariba and SAP Concur solutions tied together by the Intelligent Enterprise system,” IDC says in the report.
As part of its seamless integration, SAP Concur helps to automate the entire spending process – from pre-spend approval to reconciliation, reporting, and analytics – right into your SAP systems. What does that mean for your business? IDC outlines a few examples in the report:
To learn more about how SAP ERP integrates with accounting solutions, read the full IDC MarketScape report today.
This article originally appeared on the SAP Concur Newsroom.
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