To be fair, banks have improved a lot in their file integrations towards ERPs, allowing ERPs to automate file transfers for payments and reconciliations. This is a step forward as this means businesses can save time by cutting out some manual tasks. But here’s the catch, most businesses need more than that.

Automation alone isn’t enough. Businesses also need real-time data. Sure, it’s possible to get by switching between the bank and the ERP, but that’s far from efficient, and certainly not an ideal workflow. What really makes a difference is having that real-time data available directly in your ERP, where you actually need it.

What real-time data changes

With real-time data, you can automate and enhance workflows. For example, instead of discovering a failed payment after the fact, you can catch it instantly. You can take action right away, topping up accounts if necessary, directly in your ERP. This seamless experience allows you to handle everything from payroll to supplier payments without ever leaving your ERP.

At Open Payments, we bring together a mix of financial technologies, like data from ISO files, clearinghouses (e.g. BgMax files), and APIs, to provide businesses a real-time view of all transactions directly in their ERPs. That means you no longer have to work with yesterday’s data. Instead, you get a full, real-time view of all your bank accounts and transactions.

Our infrastructure goes beyond what banks deliver and ERPs need. For example, many businesses appreciate the ability to view separate transactions within bundled Bankgiro payments, which makes it easier to track and manage. And by keeping everything within the ERP, we’re helping users avoid the constant back-and-forth just to get things done.

Freedom of choice

We recognize that some businesses still prefer to work with file-based systems, and that’s perfectly okay. What matters is that you have a choice. Whether you’re ready to transition fully to real-time APIs or want to maintain familiar workflows, the important thing is that you can do so while benefiting from real-time data and live transaction statuses anyway.

Sooner or later all ERPs will offer real-time financial management directly within their platforms. It’s just a matter of time before even the most traditional setups shift toward live data, with file transfers gradually taking a backseat.

For now, our mission is to make that transition smoother. By focusing on real-time capabilities, we’re helping ERPs streamline their services and prepare for the future of financial management.

Bastiaan Weide
Growth & Partnership
bastiaan.weide@openpayments.io