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ERP & Bank Connectivity

ERP & Bank Connectivity

Connecting your ERP to global banks can be a headache. This Pulse survey of 100 IT leaders sheds light on how technology can simplify the process.

What element of the ERP and bank integration process is the most resource-intensive for your team?

34%Working/integrating directly with the banks
53%Understanding the complexity and changes in global banking formats
11%The ongoing management of bank integrations
2%Other
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305 responses

To what extent would you agree that bank connectivity is one of the most complex aspects of a global ERP project?

7%Strongly agree
87%Agree
6%Disagree
0%Strongly disagree
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304 responses

What ERP system does your company currently use?

24%SAP
23%Oracle Cloud ERP
29%NetSuite
11%Workday
6%Microsoft Dynamics
1%Infor
5%Other
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303 responses

How significantly does B2B payment fraud impact your organization’s bottom line and operations?

10%Not at all
67%Slightly
22%Moderately
1%Severely
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300 responses

Are you planning to leverage technology to automatically detect and prevent B2B payment fraud?

8%We already do this
73%Yes, passively
12%Yes, actively
7%No
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300 responses

How would you describe the way your organization currently integrates global banks with your ERP?

36%Custom development (i.e. One-off integrations)
43%Outsourced connectivity partner
21%A mix of custom development and software
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299 responses

During your company’s most recent ERP transformation or project, did bank integrations take more or less time than you expected?

2%Significantly less time
54%Slightly less time
24%Met expectations
16%Slightly more time
3%Significantly more time
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298 responses

What outcomes from implementing a unified and streamlined bank connectivity technology would be most beneficial for your organization? (Multi-select)

57%Enhanced security and encryption
42%Reduced workload on developers
50%Faster bank integrations
48%Faster ERP transformation delivery
30%Easier localization
28%Expedited payment processing
26%Data/business continuity
26%Automatic fraud detection & prevention
22%Better visibility into cash, liquidity and financial exposures
2%Other
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296 responses

How much would your bottom line benefit from outsourcing the management of bank connectivity and reallocating IT resources to other strategic processes?

6%Not at all
66%Slightly
25%Moderately
3%Significantly
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231 responses