Advantages of Processing AP and AR in the Cloud

With increasing frequency Accounts Payable and Accounts Receivable systems are touching more areas of a business’s day to day operation. Any issues or delays encountered with these systems can have wide-reaching repercussions, from cash-flow projections to delivery of financial information. Finding the right solutions for AP/AR can be a deciding factor between top level and middling performance. A growing trend is the deployment of cloud-based AP/AR solutions, and the numbers clearly show why.

Find out if processing AR/AP in the cloud makes sense for your business with this quick quiz and instant recommendation!

Cloud based systems offer an increase in not only accessibility, but also scalability. Cloud based systems eliminate the need to rely on Virtual Private Networks (VPNs) for accessing systems, instead allowing users to access the system remotely via web-based browsing. Eliminating the cost of VPN services is not the only impact on the bottom line, as switching to a Cloud based system also saves money by freeing up space in on-site servers for other operations, decreasing cyber-security costs such as firewalls, as they are handled by the cloud services, as well as making future expansion much easier due to the built-in system features.

It is not only the bottom line that sees improvements, but there are noticeable performance enhancements to switching to the Cloud as well. Studies by The Aberdeen Group show improvements in several key metrics amongst organizations who switched to a Cloud based system, most prominently in total processing time (total time required to process an invoice from initial receipt to approved payment). Organizations running on-site systems clocked in at 11.33 days, organizations in the Cloud completed theirs in 2.67 days. They also reported a lowering of almost $2.00 per invoice on their average invoice processing costs.

With 35% of companies considered “Leaders” using cloud based AR/AP systems, the trend is clear. With savings in time and capital over traditional, on-site systems, as well as increased efficiency in several key areas, a Cloud Solution for Accounts Receivables and Payables is an option your organization can’t pass up.

Find out if processing AR/AP in the cloud makes sense for your business with this quick quiz and instant recommendation!

By Socius, an Ohio Cloud ERP Partner

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