They function as the system of record for collecting, storing, managing, and monitoring essential business data. However, ERPs are not designed for in-depth payables execution and process-heavy operations, and as a result, AP is often backfilled with staff.

Although an ERP can create purchase orders and store invoices from suppliers, it does not manage the nuances in the payables operation to create a closed-loop process. AP is consistently ranked by financial executives as the single most time-consuming function in finance. Payables ends up being the last mile that CFOs and controllers turn their attention to.