Epicor officially announced today three additions to its BisTrack software designed to help building material dealers with financial and back-office work. The announcement comes six days after the software giant revealed its owner was selling the company to the private investment firm KKR.
The new additions, first revealed in ProSales's June-July print issue, are:
- BisTrack AP Automation will streamline handling and processing of supplier invoices by using optical character recognition technology to extract pertinent information from scanned invoices and convert it into data. The system automatically enters data into Epicor BisTrack so invoices and the values within them are tracked and processed in accounts payable. The scanned image also can be attached to the BisTrack supplier invoice.
- Epicor Tax Connect “automates the complex, burdensome process of managing of sales and use tax across multiple states and tax jurisdictions,” the company says. Its tax decision engine integrates with Epicor BisTrack to automatically validate addresses, calculate sales taxes, and generate necessary transaction reports.
- Dealers and distributors that use Epicor BisTrack will be able accept account payments from their customers via the popular Automated Clearinghouse (ACH) electronic payment delivery system, in which funds can be deducted directly from a checking or savings account to pay the account balance. ACH payments are fast, convenient, and cost “considerably” less per transaction than credit card payments.
"These automations are expected to save Epicor BisTrack software users in North America a tremendous amount of time, allowing back office personnel to focus on higher value activities and analyses," said Jason Parchomchuk, product manager, Epicor. "Automating these processes may also dramatically reduce data entry errors, ensure accurate tax reporting, provide customer convenience and a significant cost savings."
Epicor software leads the market for ERP software in building material dealers, but it has been challenged strongly in recent years by a slew of competitors, including DMSi, Spruce, Ponderosa, and now Kerridge Commercial Systems.