Why would a FINTECH company that specializes in Accounts Payable and Accounts Receivable put this headline in writing, let alone in their own BLOG posting?
If you're a complex organization with multiple P&Ls that's looking to gain better control and reduce the time of your accounts payable process while reducing your G&A expenses, you probably already know that a digital transformation can help get you there. At the same time, you may believe that such a transformation will take months or even years and you may foresee a lot of up front investment and pain in the process.
If you are a CFO, Controller, CIO or Accounts Payable Manager, you have a lot of great low and no cost options when choosing ways to sharpen your and your team’s skills. There are blogs, video blogs, podcasts, and webinars that are available to provide you and your team new ideas and approaches to your enhance your current processes to make them more streamlined and efficient.
Many corporate finance leaders want a more productive, streamlined, automated digital system that is paperless but know that budgetary restrictions would not allow for building a business case for accessing the capital required to improve their organizations. This is a common misconception based in these facts: ERP system upgrades are expensive and time consuming (7-9 months conservatively) and require outside consultants; onboarding to a new ERP system is more expensive and more time consuming (12-24 months) and also requires consultants as well.
Typically in our blog postings we don't toot our own horn. We usually talk about finance, accounting, accounts payable and accounts receivable and how they can be improved, what steps to take to improve them and at the end of each blog, we offer some related reading or videos to support someone who has taken the time to read our posting, knowing that they may have more questions or want more details thereafter.
In today's blog posting, however, we are going to take a moment to pat ourselves on the back for two awards received this month and tell you why they probably should matter to you:
First -- OnPay Solutions has been named to CFO Tech Outlook's Top 10 Accounts Payable Solution Providers - 2018. Our onpayconnect.com platform is recognized as streamlining and optimizing Accounts Payable departments everywhere. From mid-sized businesses that issue 600 payments a month, to large, diverse organizations with multiple locations and P&Ls and diverse banking relationships, we can transform manual paper processes to electronic processes and make the department infinity more productive.
If you're in Accounts Payable, you probably realize that things aren't quite as automated and streamlined as they are in some other departments in your organization. This is true for even the most progressive companies. It's for good reason, too. Controllers want to maintain control of cash going out the door. Cash is KING in any organization!
It's Accounts Payable Appreciation Week and we thought we should share some of the ways that this unsung hero of every business can really impact the company and it's overall performance.
Of course, we should clarify that we are talking about an Accounts Payable Department that is automated and issuing electronic payments. Electronic Accounts Payable can provide advantages such as time-savings, controlled expenses, added flexibility and greater visibility to cash-flow. But there are greater advantages that this department can make on your business that you may not have considered: