For mid-market companies, manual AP processes can create significant bottlenecks, leading to inefficiencies and financial risks.
In fact, businesses relying on outdated AP systems are 81% more likely to experience errors and payment delays.
With high invoice volumes, complex workflows, and multi-location operations, integrating an AP automation platform with your ERP system isn’t just beneficial – it’s critical for maintaining efficiency and staying competitive.
In this article, we’ll share eight tips to help you choose the right AP automation platform for ERP integration and turn your AP department into a key driver of business growth.
1. Analyze Your Invoice Workflow Complexity
Every business has unique AP workflows, and understanding the complexity of your processes is critical to selecting the right AP platform.
Look beyond invoice volumes to consider the specific nuances of your workflows:
- Do you have multi-step approval processes that differ by department?
- Does your business require custom workflows for various locations or vendors?
For example, a manufacturing company managing multi-entity invoice approvals across multiple regions would need specialized features to streamline vendor payments and prevent bottlenecks.
Read also: Landstar benefits from automated invoice processing with Rillion
2. Ensure Cross-Departmental Collaboration
Effective AP automation isn’t just limited to the AP team, it should facilitate collaboration between AP, procurement and finance.
Choose an AP platform with built-in communication tools that give all departments visibility into invoice statuses, purchase orders, and payment schedules.
Questions to consider:
- Does the platform support real-time collaboration, allowing teams to resolve discrepancies quickly?
- Can different departments easily track invoice progress to ensure smooth operations?
For example, a hospitality business operating across multiple locations can benefit from real-time collaboration tools that allow procurement and AP teams to spot discrepancies early, ensuring smooth payment cycles.
Looking for more tips on integrating AP and ERP systems?
Check out: 7 Best practice tips to integrate AP automation and ERP systems
3. Optimize for Global Operations
If your business operates internationally or plans to expand, your AP platform must handle multi-currency payments, global tax compliance, and cross-border transactions without added complexity.
Choose an AP platform that supports:
- Global payment gateways for easy cross-border transactions
- Compliance with international tax regulations (e.g., VAT, GST, 1099)
For example, a healthcare network with suppliers across different regions can simplify global vendor payments and local tax compliance by using a platform that manages currency conversions and tax regulations seamlessly.
4. Prioritize Customizable Approval Workflows
Most companies have a one-size-fits-all approach to AP approvals.
This leads to inefficiencies.
Customizable workflows allow you to automate approval processes based on specific invoice amounts, departments, or vendor types. Look for platforms that allow flexibility in:
- Multi-level approval paths tailored to your business needs
- Custom rules that align with company policies for large and small payments
For example, a manufacturing company might set up an automated workflow where invoices over a specific amount require sign-off from both procurement and finance, preventing bottlenecks while ensuring compliance.
5. Enable Real-Time Cash Flow Forecasting
Mid-market businesses in sectors like hospitality and manufacturing rely heavily on accurate cash flow management. Make sure you select an AP platform that offers:
- Real-time cash flow analytics to provide insights into future liabilities
- Customizable dashboards for instant visibility of AP data across multiple locations
For example, a hospitality chain can leverage real-time cash flow forecasts to predict upcoming payments, allowing them to strategically plan and take advantage of early payment discounts.
6. Review Integration Flexibility
Beyond ERP compatibility, ensure that the AP platform can integrate with other financial tools like procurement systems, expense management software, and payment processors.
Broader integration ensures:
- A smoother end-to-end process for both AP and other financial functions
- APIs or plug-ins for integrating new tools as your business evolves
For example, a healthcare company integrating AP with both its ERP and procurement tools creates an end-to-end solution, improving visibility across purchasing and accounts payable operations.
7. Consider Mobile Accessibility and Remote Approvals
Mobile-friendly platforms are no longer optional.
Choose an AP platform that offers:
- Mobile access for invoice approvals and reporting
- Cloud-based functionality that allows users to approve invoices remotely
Why this matters:
A hospitality business with managers at various locations can speed up invoice approvals using a mobile-friendly AP platform, preventing delays in payment cycles.
AP Managers: Find out how you can benefit by integrating AP automation with your ERP system.
Introducing Rillion’ AP Automation Platform
Rillion is a powerful AP automation platform designed to streamline the AP process for mid-market businesses. It simplifies invoice approvals, reduces errors, and helps finance teams manage large volumes of invoices efficiently.
With a focus on ease of use, Rillion’s intuitive interface allows users to quickly adapt, reducing the need for extensive training while increasing productivity.
Best Suited For: Mid-market companies processing over 20,000 invoices annually in industries like healthcare, manufacturing, and hospitality.
Why Choose Rillion:
- User-Friendly: Easy to onboard, with drag-and-drop features and customizable workflows.
- Efficiency: Reduces manual tasks, speeding up invoice processing and cash flow management.
- Seamless Integration: Works with ERPs like Sage Intacct, Microsoft Dynamics, and SAP Business One.
Conclusion
Choosing the right AP automation platform for ERP integration will streamline AP processes, reduce errors, and improve financial visibility.
Whether you’re looking for real-time cash flow forecasting, customizable workflows, or global payment capabilities, following these tips will ensure that your AP automation platform meets both your current needs and future growth.
Ready to integrate your ERP with Rillion?
Rillion integrates seamlessly with popular ERP systems like SAP, Microsoft Dynamics, and Sage Intacct, making the transition to AP automation smoother than ever.
Book a demo today!
