A report published by a leading technology analyst firm revealed that integration of e-procurement solutions into organizations’ existing financial systems is not only supported, but also well-known and relatively simple. Periscope Holdings provides the evidence that these findings are true with a history of success in accommodating a wide range of systems, from modern to legacy, utilizing the robust Integration Module, powered by its top-rated e-procurement solution BuySpeed.
According to the report, e-procurement solutions can be configured with practically any financial system. It confronts concerns by potential customers about integration, highlighting that integration is typically not difficult, because the data points are well defined, and indicating that by not integrating, organizations risk lowering productivity by wasting countless hours re-entering data. Further, it provides a substantial supporting argument for e-procurement solutions in the battle over funding against ERP systems and debunks the ongoing myth that suite integration with an ERP system is superior to best-of-breed integration with e-procurement.
The key contrasting factors between ERP and e-procurement systems lie in the areas of functionality and integration. ERP systems are not designed for the public sector; therefore, vendors make implementation costly by requiring customizations in order to meet public sector needs. Sacrificing valuable procurement functionality and making the initial purchase of an ERP system often leaves entities stuck with empty pockets and not all of the capabilities they need.
On the other hand, BuySpeed is designed specifically for public sector use and offers full procurement functionality and best-of-breed integration into core financial business processes. Periscope developed the Integration Module to provide an organized framework for facilitating integrations with financial systems and promoting consistency in accounting functions, standard data formats, and integration, using industry-accepted guidelines. The module allows Periscope to manage transactions using fundamental BuySpeed features, which can be tailored to meet customers’ unique needs. Additionally, it maintains the baseline transactions, which can be customized, if necessary, based on the given requirements of individual financial systems.
“It is incredibly important that public sector and higher education entities choose a partner who is both knowledgeable about and truly interested in the integration process,” said Brian Utley, Periscope’s President and CEO. “Periscope is an ‘Easy Button’ for integration, not only because we know how to do it, but because we understand how critical it is to a successful, widely adopted e-procurement project. Our team has excelled in recognizing what must be integrated with every client and has found a way to get it right every time – it is one of our most differentiating qualities as a business partner.”