Migration to the cloud is becoming the norm for many enterprises looking to achieve greater flexibility from their business applications.
As enterprises take advantage of an ERP cloud migration to streamline and consolidate different systems and ERP instances, they are looking at opportunities to transform areas that might otherwise be more difficult to achieve.
One such area is payments. However, hurdles remain.
When companies embark on their ERP payments project, they will need to consider what has changed and how they can use the project as a catalyst for approaching payments more strategically. In practice, that means looking at areas like fraud detection, bank connectivity and payment formats.
Companies should also consider how achieving agility and scalability with their payments can boost their negotiating power with banks and how global visibility can open up opportunities to optimize cash balances and consolidate
This Kyriba ebook shares insights into key areas to look at during an ERP cloud migration payments project including:
- Fraud detection
- Bank connectivity
- Payment formats
- Agility, scalability and visibility
