Finance News & Insights

AP automation as a SaaS solution: Why you’d be crazy not to go to the cloud

Albert Einstein defined insanity as doing the same thing over and over again and expecting different results.

While the famed theoretical physicist likely didn’t have accounts payable (AP) on his mind when said this, it certainly fits the bill.AP_Cloud_Guidebook

Today’s companies have a lot riding on the performance of their AP departments — early payment discounts, vendor satisfaction, credit rating strength and keeping the procure-to-pay cycle in order just to name a few.

Yet, a majority are still clinging to traditional, paper-based methods for processing, managing and storing AP invoices — a known cause of the very problems AP departments seek to avoid at all costs.

And it’s not that alternatives aren’t available. AP automation solutions, especially those via a software as a service (SaaS) model, not only address the immediate issues associated with manual AP invoice processing, they’re ideal for reducing costs and improving scalability over time.

It begs the question: Why are those in AP going against their best interests?

 

Finding clarity in a changing landscape

It’s not that companies aren’t aware that less paper and fewer manual touch points can bring speed and efficiency to their process. Most even know that a SaaS-based automation solution can eliminate their reliance on costly on-premises infrastructure.

What’s keeping AP departments in the invoicing dark ages is a lack of clarity.

Misinformation surrounding “the cloud” is everywhere these days — not secure enough, costs too much, creates additional complexity, etc. As a result, many companies are questioning whether or not an automated solution for their AP department is more trouble than it’s worth.

Companies are right to be cautious. Any new solution not only needs to be a good fit with a company’s existing ERP infrastructure, it must also have the necessary functionality to make every phase of AP invoicing more strategic and intelligent. However, they’d be crazy to overlook AP automation as a SaaS solution.

Let’s put our collective AP mind at ease, shall we?

 

A sensible, smart and sane business decision

Low risk and incredibly high reward: That’s what companies can expect from a top-tier provider of SaaS-based AP automation solutions.

The beauty of a best-in-class solution is that it has a positive impact on essentially everyone in the business impacted by AP — from the Accounting staff and IT department to the CFO, AP Managers and Cost Center Owner — with advantages like:

  • Predictable pay-per-use pricing model
  • No hardware or software required
  • Integration with virtually any ERP/business system
  • 24/7 year-round support
  • Fully automated AP workflow, from reception to archival
  • Easy-to-use dashboards to track invoices and measure KPIs
  • Flexibility to expand automation to other business processes
  • Support for financial shared services centers

 

What’s not to like, right? Even the most forward-thinking companies would have to admit it really is crazy not to utilize AP automation as a SaaS solution.

 

Learn more — download the guidebook today!

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