Overcoming the monumental barrier of collecting supplier bank instructions is typically close to the top of the list of reasons why companies rationalize continuing to issue check payments. 

Who can blame the CFO or CIO for their lack of enthusiasm toward a project that is seems like it could take months or years to manage when their staffs are already stretched thin managing other operational requirements?  Relatively speaking, it seems that their decision to stick with checks just seems smarter.

Before we look at how a cloud-based payments system could benefit your company, let's first look at what "the Cloud" really is.

The Cloud, otherwise known as Cloud-computing is storing and accessing data over the internet versus the computer hard drive.

Not that long ago, all files could only be accessed by physically sitting by and logging into "the computer" hard drive. Today, however, many individuals take advantage of the advances in technology and utilize the cloud to conduct their personal lives. They can access email, share file docs, schedules, and financial information/bill pay from anywhere, anytime.

Many businesses are seeing the benefits and jumping on the cloud banwagon as well. Most recently, many businesses are moving to a cloud-based payment automation system. WHY? you ask.....

How can Your Business benefit from The Cloud — specifically a cloud-based Payment Automation System? 

Here at OnPay Solutions^TM, when we come across insightful industry information on how to reduce costs and increase efficiencies, we like to pay-it-foward and share. Not only that, we know how busy you are... so we will make it an easier read by summarizing it for you too.

WEDI,(Workgroup for Electronic Data Interchange), the leading authority on the use of Health IT to improve healthcare information exchange and CAQH Index^®, a non-profit alliance of health plans and trade associations have outlined guiding principles and the benefits of healthcare plans that transition from manual transactions to ePayments.

Friday is almost here! We know, you have had a busy week and may still have a lot more on your ToDo list. It will all get done.

Part Two in the Blog Series:  How Payments Impact Your Business

Keeping employee morale high is one of the best things you can do to instill loyalty and maintain a productive workplace.  

Have you ever stopped to think about how payments can impact employee relations in the Accounts Payable department of an organization? Payments can significantly impact employee relations!  

Streamlining your payments to electronic payments changes the traditional payment process allowing employees to spend less time on the physical act of printing, folding and mailing -- all administrative tasks -- and more time on their actual financial roles in the company.  The result may allow them to feel more productive and empowered.  

An experienced Accounts Payable Manager plays the role of a supervisor, which makes you responsible for quickly and adequately processing payments for all invoices that are received, as well as ensuring each member of the team accurately performs their duties. In the best scenario, your team is cooperatively working within the system or standard operating procedures that they feel maximizes their impact while minimizing redundancy and room for error.

Part One in a Blog Series:  How Payments Impact Your Business

From an improved level of productivity to lower costs, there are many positive outcomes of maintaining good supplier relationships. These professional relationships can positively or negatively affect the quality of your company's product, which play roles in your customer satisfaction. Therefore, giving you a leg-up against competition. With a plethora of opportunities that can impact the bottom line and with service levels at stake, it is crucial to nurture these professional relationships.

It may come as a surprise that the efficiency of your accounts payable processes can play a part in strengthening supplier relationships. Better payment terms and higher quality payables services can help. Streamlining the processing of electronic invoices for approval and then payments, will reduce the number of phone calls into Accounts Payable regarding payment status.