The path to achieving accounts payable excellence is AP automation in the cloud.
That’s the finding in the Aberdeen report “Achieving Accounts Payable Excellence in the Cloud.” Aberdeen says that AP automation in the cloud directly correlates with superior invoice management and other capabilities essential to minimizing bottlenecks and optimizing performance.
The key benefits leading to accounts payable excellence are optimized invoice management and maximized user accessibility. AP automation in the cloud provides greater access across the enterprise by removing the reliance on VPNs when working remotely.
Aberdeen surveyed companies with and without AP automation in the cloud and found that of companies with AP automation in the cloud:
Aberdeen also looked at essential tools for expediting payment processing and found that of companies with AP automation in the cloud:
On average, companies using AP automation in the cloud process 28,130 per month, compared to 9,862 for those using non-cloud solutions. Their on-time payment rate is 91% compared to 75%. The number of suppliers is 1,701, compared to 650. And companies using cloud AP automation solutions show 72% of their invoices are based on a PO, compared to 62%.
Based on the data, Aberdeen says if excellence in invoice management is an organizational goal, the cloud is the best deployment option for AP solutions. DocStar offer both cloud and on-premises solutions, so the choice is yours.