WALLED LAKE—Paramount WorkPlace, the developer of cloud-based and mobile spend management software, announced its upcoming integration between its products and multiple enterprise SAP ERP solutions, including SAP ByDesign, SAP All-In-One (A1), S/4HANA and SAP HANA Cloud.
The integrations bring enterprise-grade out-of-the-box spend management functionality to the ERP applications at a highly attractive price point and includes full mobile capabilities, punchout, OCR and AP Automation, supplier management and project integration with 360-degree reporting and analytics.
“We’re diving further into the enterprise ERP market because we see a real need for comprehensive procurement functionality that provides extensive functionality, is quicker to implement and is available at a lower total cost of ownership than other procurement applications,” said Salim Khalife, president and CEO of Paramount WorkPlace. “Other applications including BuyerQuest, Chrome River or Coupa offer similar functionality but typically at a much higher price point. Our out-of-the-box integrations mean that enterprise corporations can begin recouping their investments from Day 1.”
According to research, most enterprise ERP software initiatives take, on average, 29 months to implement, and 57 percent of organizations take longer than expected to implement their ERP systems. That’s nearly 2 1/2 years before an organization can hope to begin seeing a return on investment from ERP. By implementing a stand-alone procurement solution during the ERP deployment process, and then integrating the solution with the ERP after going live, companies can begin reducing unmanaged spending, lowering the cost of each purchase order and consolidating their buying power. Companies leveraging Paramount WorkPlace e-procurement solutions typically go live within one to three months.
“We are convinced that the timing of our new enterprise focus could not be better and believe the future belongs to our cloud-based offering,” said Barry Thompson, VP of Enterprise Sales at Paramount WorkPlace. “We integrate seamlessly with most ERP solutions and can offer deployments for cloud-based, hosted and on-premise environments. For many enterprise customers, the alternative is to implement 3-4 disparate vendor solutions to provide what we provide in one, single, integrated solution. Furthermore, we can often do it better, faster and more cost-effectively that most of the current enterprise vendors.”
Paramount WorkPlace SAP ByDesign, SAP All-In-One (A1), SAP S/4HANA and SAP HANA Cloud integrations will be available in the fourth quarter of 2019. Additional information about the integration may be found at paramountworkplace.com.