Electronic Payments the Latest Service Moving to ERPs, Cloud
A growing number of billing and accounts companies are investing in new payments software systems to meet consumer expectations. For the most part, this means increasing reliance on ERPs and other cloud-based technologies. The data comes as part of a report from Ovum and ACI Worldwide.
The study encompassed data collected from 1,475 payments decision-makers. It was conducted between December, 2016, and January, 2017, and included respondents from a wide variety of organizations and industries.
Among the most interesting findings from the report is the developing penchant to offer payment capabilities that are manageable from a multitude of device. Specifically, 49 percent of survey participants are “actively developing or planning to offer payment capabilities embedded into new devices.”
Another intriguing finding is how prominently ERPs factor into payment systems, with the majority of companies posting payments to their system in real-time, and 70 percent planning to further integrate their payment processes and ERP. And while many companies are already making use of an integrated ERP, a move to a more flexible system is on the horizon for many more businesses.
Currently, “SaaS and other cloud-based services only account for a small proportion of biller organizations’ delivery models today, a majority (54 percent) said they are likely to move more of their payments infrastructure data to SaaS/cloud models in the future.”
The mass transition is expected to occur because of the benefits permitted by effective, cloud-based ERP systems. As the principal analyst at Ovum, Gilles Ubaghs, puts it, “This research shows that improved payments integration into ERP systems can benefit organizations by enabling an improved consumer experience alongside more efficient and intelligent back office functionality.”