On February 19th, we will be hosting a 30-minute webinar with Ardent Partners AP expert Matt Delman on the “Secrets of World-Class AP Departments: Best Practices in AP Automation.” Sign up today!
AP Automation does wonders to your accounts payable process. Benefits like reduced Procure-to-Pay time, the ability to capture early payment, increased cash flow, and improved vendor and customer relations.
“CFOs facing many challenges today. Operating budgets are getting tight while the need for increased visibility into financial data is at an all-time high. Add to that the increasingly strict regulatory and compliance landscape and it’s no surprise that financial executives are eager to find new ways of automating and improving Accounts Payable.”
Analyzing whether or not your company could benefit from ERP is just step 1 of the ERP decision-making process. Even if your business knows that it will benefit from ERP software, deciding on an on-premise solution or a cloud-based solution is equally as important as the other decision-making process steps.
“On-site ERP means that you, as a business, purchase an ERP software program. You purchase the software and all the infrastructure that may be needed to support the system… In contrast, a Cloud ERP system is hosted and managed by the system provider as SaaS (software as a service). Your business pays a monthly, or yearly, subscription fee and the Cloud service takes care of the software and infrastructure storing all your data.”
The reasons why a company should implement a cloud-based solution is indicative of the industry. Some companies would need to know how the costs of ownership and costs of risk that are affected by the cloud, while others would want to pursue the cloud to see how Business Process Automation can be improved.
“The focus is on reducing IT costs, while increasing productivity and agility. Reducing capital costs is still relevant in a cloud computing business case; however, the focus should be on other factors, such as the business agility that cloud brings to the game. The value of business agility varies between companies. For example, a high-tech or financial company could find more value in changing or expanding business process automation than a paper manufacturer in the Midwest.”