Small businesses can have a big impact. But small and midsize businesses often have fewer resources to work with, so they lack the robust systems that would normally offer visibility into the large number of invoices that come in and go out each month.
That’s where a cloud-based accounts payable management system comes in. Switching to an automated workflow provides new efficiencies to multiple stakeholders – in addition to the critical visibility into cash flow that every small business needs.
According to a recent study of several businesses by IDC, companies of all sizes that deployed Concur Invoice saw a wide variety of benefits, including:
- Greater visibility into business performance, which drove smarter decision making
- 505% return on investment over five years
- Five-month payback period
- 99% of employees using a cloud-based system complied with company procurement policy
- Productivity increased an average of 11% due to mobile enablement
And many more that are available in the full report.
According to IDC, for the businesses surveyed, automating their invoice process not only helped them gain efficiency and productivity, but it also provided big-picture data visibility and increased employee satisfaction for more effective operations and a better bottom line. Read the report today then visit this page and see how an integrated solution helps modern finance leaders gain increased employee compliance, productivity, and visibility.