FinTech - Automatic Payment Process in the ERP System

Abstract

Businesses are moving online, opening up more channels for growth and a wider customer reach. With a global market, there is a need for a streamlined and automatic payment system. Integrating ERP systems and automatic payment solutions offers an efficient way to carry out financial management, which is crucial for business growth. ERP systems have evolved with technological advancement. Today, ERP incorporates cloud computing, artificial intelligence, and data analytics technologies to facilitate automation in ERP payment systems. Blockchain is another technology that FinTech companies can explore to enable automatic payment processing in ERP systems. Oracle Netsuite, a SaaS company, currently offers an ERP payment system, which is a great reference for the study.