Epicor Brings the Power of Cloud-Based Document Management and Process Automation to ERP in Seamless, Effortless Fashion
Leading enterprise content management capabilities from DocStar now embedded in Epicor ERP to empower business growth and transformation, through improved efficiency and customer-centricity, for better business outcomes
Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, today unveiled comprehensive integrated enterprise content management capabilities to help organizations operate at peak performance through improved efficiency and customer-centricity, and become more flexible, adaptable and empowered for growth.
The announcement—made today at the Epicor Insights 2017 customer conference—follows the January 2017 acquisition of DocStar, when Epicor announced the expansion of its cloud-based solutions portfolio and commitment to integrating DocStar’s powerful document management and process automation capabilities into its Enterprise Resource Planning (ERP) platforms to support improved return on investment and better business outcomes.
Modern organizations operate in a data deluge; tremendous business opportunity can be gained through “paperless” efficiencies associated with digitization. As the main system of record, ERP data is used to create business documents such as invoices and purchase orders that become part of the business record and are used in work processes. Securely managing business documentation and automating these processes via Enterprise Content Management (ECM) improves productivity, and streamlines compliance, enabling organizations to provide a better, easier experience for users.
“Bringing ERP and ECM together creates a complete process automation and optimization solution involving both document/paper and non-document centric processes. In addition, it eliminates IT management overhead, and makes functionality incredibly accessible to users for fast ROI, reduced risk and improved competitive advantage,” said Tom Franceski, vice president and general manager, DocStar, a division of Epicor Software Corporation.
Epicor ERP users have access to a centralized ECM repository with approval process flow and digitized document capture. Users can standardize creation, indexing, storing, searching, and retrieving documents across the organization easily and securely. Organizations can also reduce reliance on physical file cabinets and streamline management of a wide range of paper-based processes and approvals.
“Epicor customers now have the ability to make data and transactions flow efficiently throughout the organization and enhance collaboration with their Epicor ERP system, customers, and partners for better business outcomes. Organizations also have new means to support full visibility and auditability for best-practice compliance and governance.”
The new integrated ECM functionality addresses a broad range of business requirements:
Access the right content and documents in the right context within Epicor ERP – Users can upload and retrieve documents from a secure repository directly from the Epicor ERP user interface, saving employee time and effort and improving decision making.
Ensure one version of the truth – Organizations can guarantee file integrity with time and date stamps and version control so they can always be assured of accuracy when uploading, retrieving and attaching documents to the ERP objects/tables (sales orders, purchase orders, parts, etc.).
Satisfy document archival requirements – Organizations can automatically archive Epicor ERP APR (Advanced Print Routing) output (such as invoices, sales orders, purchase orders, etc.) in the repository , for best-practice audit trail documentation. They can also manage document retention to comply with the organization or the regulatory retention policies for certain type of documents.
Collaborate with customers and suppliers – Making business processes transparent and/or open to engagement from customers and suppliers can support improved satisfaction and stronger relationships and loyalty, which can contribute to better business outcomes.
Streamline and scale business operations – Digitization and process automation helps organizations experience newfound efficiencies to accomplish more with fewer resources, support the virtualization of work and provide the foundation for growth.
Enabling Best-Practice AP Automation
Epicor ERP has historically boasted strong financial functionality to support Accounts Payable (AP) invoice processing. Integrated DocStar functionality offers new opportunities for Epicor customers to improve automation in this high-volume and business-critical function that is complex and fraught with exceptions. Industry statistics show some 80% of invoices have one of more exceptions.
Now organizations can leverage best-practice AP automation—digitizing paper invoices to kick off electronic workflows to automatically route invoices through validation, matching against ERP data and final approval to import back into the ERP system. This reduces processing costs and cycle time, and improves process visibility, enabling companies to take advantage of early pay discounts, which can contribute significantly to bottom-line growth.
“The new integrated document management and process automation capabilities—deployed in the cloud or on premises—enable organizations to achieve their fullest potential, by scaling and modernizing operations and enabling greater collaboration,” said Sanjay Kumar, vice president, product management, Epicor Software. “Epicor customers now have the ability to make data and transactions flow efficiently throughout the organization and enhance collaboration with their Epicor ERP system, customers, and partners for better business outcomes. Organizations also have new means to support full visibility and auditability for best-practice compliance and governance.”