Q2 Holdings, Inc. announced Direct ERP, a new solution designed to help banks and credit unions enable banking operations directly within commercial customers' enterprise resource planning (ERP) systems. Direct ERP aims to ease the reconciliation process for businesses' accounting departments, leading to greater transparency, increased cash flow, reduced processing time and less manual involvement. Manual financial processes create inefficiencies between banking and accounting systems, posing challenges to businesses and resulting in poor user experience and a drain on staff and financial resources. Direct ERP removes this friction by integrating banking directly into the ERP system, which automates workflows, enhances security and reduces errors and operational effort for integrations and payment processing.
Direct ERP allows commercial clients to initiate payments, retrieve account data and manage reporting and approvals directly from their ERP or accounting system. Most financial institutions still struggle to support this level of integration. According to Datos Insights research, 91% of North American mid-size and large businesses say it's important to conduct banking operations directly within their ERP systems, but few banks and credit unions offer the tools to make that possible.
