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EPICOR Strengths: easy integration with banking systems

The mechanisms built into EPICOR Kinetic ERP allow for fast and easy integration with the banking systems of the institutions your business works with. A direct integration is also possible. This is the best way to avoid mistakes arising from manual data entry and save time and money.


Both the organizations using ERP systems and banks are highly digitalized today. That is why the automation of processes for sending, receiving, and posting financial transactions is becoming natural. EPICOR Kinetic ERP has built-in mechanisms allowing easy integration with banking systems. Such connectivity is two-way. This allows payments to be generated in the ERP system and then – using a file containing all payments – to be forwarded for execution. In the other direction, bank statements can then be imported into EPICOR and matched to specific invoices based on individual transaction parameters such as the sender’s or recipient’s name or bank account number. Of course, this applies to both customers and suppliers.

Customers sometimes opt for more direct integration – not via files but through online banking services. This makes all processes completely automated. There is no need to create, save, or transfer any files. Again, the integration is bidirectional.

So, what’s in it for system users? First of all, a significant saving of time can be spent on other more important tasks or those impossible to automate. Last but not least, this greatly reduces the risk of errors. Manual input of, for instance, business partners’ account numbers or the transferred amounts is no longer required.

Note, however, that such direct integration may not be possible with every bank. This is because it depends on whether the institution makes web services available. If it does not, only an indirect file-based mechanism remains an option.

The direct import of data from bank accounts allows finance department employees to check the balances as soon as they come to work without any additional actions. They have to click “post,” and the matter is dealt with.

At the same time, the identification of transfers can be done intelligently. It can be performed not only based on the account number or the organization’s name, but it can also consider if and what taxes, Social Security contributions, loan or lease repayments these are. In this way, all transactions are automatically posted to the correct accounts. Of course, this requires some work – in cooperation between the consultant and the client – at the import configuration stage.






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