Enterprise resource planning software (ERP) is an all-in-one platform that helps you manage sales, billing, accounting, budgeting, purchase, inventory, supply chain, human resources, and more. It is the jack-of-all-trades for most modern organizations.
But when it comes to in-depth features required for each function, say order-to-cash management, you’ll need to supplement ERP systems with features offered by niche third-party vendors. Accounts receivable automation in ERP systems is limited and doesn’t offer many features for functions such as credit risk management, payment processing, and prioritized collections. Augmenting its functionalities with out-of-the-box (OOB) AR solutions is the best way ahead.
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