The Modern Myth: Real-Time Insights & Analytics for Enterprise

How to Receive Real-Time Analytics by Utilizing a Business Partner

Most enterprise software offers real-time data and analytics. Ask anyone who has implemented a high-end internal system whether they actually get the real-time analytics they were promised. A few examples:

Lagging Information in the Ordering Process

Once a PO is sent to the supplier, it's best to ask for PO confirmation and record it in the ERP. PO confirmation lets procurement create another PO if needed, informs operations of a potential production delay, and informs finance of possible changes to financial projections due to a different supplier being approached. In practice, PO confirmation is usually missed on a tight schedule or delayed by up to a day on average — and procurement rarely tracks a supplier's response time, which would be valuable long-term for evaluating supplier quality.

Lagging Information in Goods Delivery

A good supplier will tell you when goods are ready to be picked up or already in delivery, but some software has no module for procurement to record this. Suppliers may also not share the Delivery Order (DO) or Airway Bill (AWB) until procurement follows up. Complex operations can delay the flow of information from supplier to buyer, or from buyer to their own internal reporting tools.

Lagging Information in Payment Reconciliation

After the invoice is checked, finance executes payment for each due invoice. Ideally both parties are notified and wait for funds to settle — but if the payor doesn't notify the supplier, the supplier has to regularly check the bank account to reconcile, which can take up to a day from when funds settle.

Breaking the Myth: Eliminating the Root Cause of Information Delay

The failure to deliver real-time information is caused by manual data input, not the software — including the ERP itself. The ERP is a centralized backbone for operations, essential for a large-scale business. But digitalization is never all-or-nothing — further digitalization has to happen between supplier and buyer, via a Paper supplier and buyer portal. This doesn't just speed up invoice processing; it enables real-time analytics and insight into payables and receivables, while reducing operational effort, decreasing DSO, and minimizing fraud.

With the supplier portal, suppliers have the opportunity and incentive to confirm POs to secure the order — the PO and its confirmation integrate into the ERP via API. As a requirement for invoicing, suppliers can also upload the DO and AWB once goods are ready for delivery, minimizing manual input and the human error and lag that comes with it. When finance executes payment, automatic reconciliation with real-time notifications goes to both buyer and supplier — and enterprises can get the same real-time visibility on their own payments by implementing a buyer portal.

How Real-Time Information Helps Business

Real-time analytics helps departments across a company make tactical decisions, mitigate future blockers, and catch serious problems before they grow. Delays in analytics, though seemingly minor, carry hidden impacts across the business. With the Paper supplier portal, buyer portal, and proper change management, businesses can continuously track and monitor their procure-to-pay and order-to-cash metrics with a lighter operational burden.