Redesigning Accounts Receivable For Architecture And Engineering

The architecture and engineering supply chain is a complex web of designers, builders, contractors and sub-contractors, project owners and more. With multiple business models available to initiate and complete a project, the flow of cash from one participant to the next is often bottlenecked as a result of procedural inefficiencies and a lack of digitization. For A&E firms, the concept of a centralized port of back-office data in the form of an enterprise resource planning system is a valuable proposition to help ease some of this complexity and strengthen B2B relationships. But the unique intricacies of the sector mean the average ERP solution can’t always suit the industry’s needs – especially when it comes to B2B payments. With the ERP as a source of consolidated financial information, Unanet Chief Product Officer Assad Jarrahian says it’s also an opportune platform to initiate a variety of other financial processes, including accounts receivable. But it’s essential that A&E firms adopt ERP solutions that can suit specific demands.