ERP enters into the world of financial technology

The ERP system today is not like it used to be in the past; straightforward and tractional. Although ERP systems still continue its basic functionality of providing professionals with the portal to execute and manage their basic processes like inventory, employee management, purchasing etc., now it is more complex and has established its footprint in almost every sector.

The question that is making business professionals ponder is that whether a digital financial management platform requires an ERP system or not. A few companies have started questioning the importance of ERP system because of the rise of cloud-based trends. No one can deny the ERP’s capacity to coordinate and incorporate with enterprise applications coming into effect.

Joe Scioscia, VP of sales, VAI says, “People understand today that having all of these different, unintegrated applications are truly not the most effective way to go. While there are a lot of good apps out there that assist users in collecting the data, all of that data really needs to reside in one central repository in the end. An ERP system is the perfect spot for that.”

As businesses are getting compatible with cloud data storage, the trend of combining ERP with other apps is increasing. For example, VAI’s latest partnership with SAP Concur paves the way for the integration. The corporate fintech has also adopted the ERP solutions as it is quickly jumping into the cloud, the technology in the financial systems can make greater use of data now!