- Q2 Holdings Inc. (QTWO, Financial) unveils Direct ERP, integrating banking with ERP systems for commercial clients.
- Direct ERP enhances cash flow, reduces processing time, and improves transparency for businesses.
- The solution is part of Q2's Direct Data Services, aiming to streamline financial operations.
Q2 Holdings Inc. (QTWO), a renowned provider of digital transformation solutions in financial services, has introduced Direct ERP, a groundbreaking solution aimed at integrating banking operations within enterprise resource planning (ERP) systems for commercial clients. This new offering is designed to simplify the reconciliation process for business accounting, resulting in enhanced transparency, improved cash flow, reduced manual intervention, and expedited processing times.
The manual nature of traditional financial processes often leads to inefficiencies and communication barriers between banking and accounting systems, causing significant challenges for businesses. Direct ERP resolves these issues by embedding banking functionalities directly into ERP systems, thereby automating workflows, increasing security, and minimizing errors and operational efforts in integration and payment processing.
Commercial clients can leverage Direct ERP to initiate payments, access account data, and manage reports and approvals directly from their ERP or accounting systems. According to Datos Insights, 91% of mid-size and large North American businesses prioritize the ability to conduct banking within their ERP systems, yet many financial institutions struggle to support such integration.
Direct ERP is part of Q2's Direct Data Services, which also includes Direct Payables and Direct Account Recon, providing financial institutions with the tools to enhance relationships with commercial customers through automated payment file delivery and receipt via Secure File Transfer Protocol (SFTP) or Application Programming Interface (API).
Integration with Direct ERP in the Q2 Digital Banking Platform is facilitated through partners like Koxa and Ninth Wave, offering connectivity to major ERP systems such as NetSuite, Workday, Sage Intacct, Microsoft Dynamics Business Central, QuickBooks, and Xero, among others. The Direct Data Services offering is a component of Q2 Catalyst, a suite tailored to help banks and credit unions secure more client engagements efficiently.
For more information, interested parties can visit Q2's official website for detailed insights into this innovative solution and its impact on modernizing B2B payments.
