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Why CFOs Are Going Beyond ERPs?

Control spend, reduce costs of procurement and Accounts Payable, and mitigate risks of frauds or non-compliance. Read More: https://www.expenzing.com/blog/why-are-cfos-going-beyond-erps-in-their-quest-for-better-financial-controls/

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Why CFOs Are Going Beyond ERPs?

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  1. Why are CFOs going beyond ERPs for Financial Controls? Ila Imani CEO - Expenzing

  2. CFOs want to: 1 Reduce Spend and Stay within Budget 2 Reduce Costs of Processing even as you scale up • 3 • Manage and mitigate Risks 4 Raise the bar on Compliance and Governance

  3. CFOs want to impact these areas: Checklist -Based Invoice Due -Diligence Enforcement of Supplier Rate Contracts Timely Payments Lower Rates from Suppliers SUPPLIERS USERS Tighter Payment Controls Empanelment of New Vendors esp with GST info DOA based Authorisations of Purchase Requests Reduce Travel Spend Professional Purchasing Process Sourcing

  4. “Why isn’t an ERP sufficient?” 5. Try building modern functionality like: Checklists Dashboards Email Approvals Trend Analysis and so on 1. Try modifying an ERP! 2. Try giving it to Business Users! 6. Try handling travel processes in it! 3. Try using it over the mobile or the internet! 7. Try giving Portals to Suppliers!! 4. Try buying 1000’s of Licenses!

  5. Expenzing: The Solution to Augment your ERP Checklist Based Invoice Due Diligence Enforcement of Supplier Rate Contracts Timely Payments Lower Rates from Suppliers SUPPLIERS Tighter Payment Controls USERS Empanelment of New Vendors esp with GST info DOA based Authorisations of Purchase Requests Reduced Travel Spend Professional Purchasing Process Sourcing Purchase Request to PO Expense Mgmt. Supplier eInvoicing RFX Mgmt Rent & Utilities Mgmt Supplier Empanelment Online Bidding Branch Expense Mgmt Travel Expense Mgmt. Invoice Authorisations

  6. In Summary: • ERP ‘s cannot do it all • Specialised solutions are required for procurement and expense control • To reduce spend, cost of processing, and reduce risks • Must Automate: Procurement, Supplier Onboarding, eInvoicing, Supplier Portals, Travel Expense, and A/P • Go for end-to-end, yet modular solutions on cloud Read our blog to know more

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