If your company is thinking of displacing your ERP due to specific functionality gaps, pause! These gaps may not be an issue with the ERP at all, but a need for enhancement, a positive shift from back office inefficiencies and the lack of live clarity into the health of your collections business.
An ERP can be a costly but worthwhile investment to bring efficiency, transparency, and alignment around a company's resources and operations. However, it can be difficult to maximize the value of this investment without third party add-ons to perform functions specific to the company’s needs. Instead, companies may become frustrated with the ERP itself and even consider the costly dismantling of the software when these needs are not met.
Empowering your ERP and Experience Unimagined ROI
I recently read a case study by Stellar One Consulting, a YayPay partner championing implementations for SAP Business One customers. Their client, Block Imaging, is a medical imaging, parts, and service company that was initially frustrated with setting up their ERP to work with their collections. Fortunately, Stellar One was there to help. However, how many other companies experience frustration with their ERP? How many more can benefit from further savings from an app not only built to integrate with the purchased ERP but also functionally designed for collections optimization?
ERPs are powerful, but not necessarily tailored to your company's needs. It's up to the purchasing company to transform it into a bespoke tool for their team. Third party apps exist to help companies customize their ERP experience. Before doubting your ERP purchase, consider if a third party add-on can turn this investment into a breakthrough improvement for your company.
Third Party Apps to the Rescue
When you purchase an ERP and realize that it alone isn’t improving your cash flow, the issue may not be with the ERP at all. It may give you access to your invoices and aging reports, but it is third party apps like YayPay that integrates with the platform to provide:
automation and workflow streamlining to improve collection efficiency
customer portals to empower buyers to manage their own invoices
predictive analytics for companies looking to plan with a stable cash flow
So if you are looking to get more out of your ERP for your collections workflow, take a look at our Definitive Guide to Buying an Automated AR Solution. If you find your ERP’s missing functionality is automating your collections workflow, consider YayPay first.