Customers tell us that, on average, they see an improvement of 0.5 percent to their bottom line. Services like Yooz that automate the accounts payable process let employees focus on their key task.
Dallas Fort Worth/Southlake, TX (PRWEB) January 25, 2016
As more and more enterprises embrace sophisticated, easy-to-use and affordable cloud services, they will see tangible bottom line benefits from injecting real-time intelligence into their financial workflow. That’s the prediction of Laurent Charpentier, Chief Innovation Officer of Yooz Inc. North America, one of the pioneers in end-to-end accounts payable (AP) automation in the cloud.
Based on success stories and feedback from midsize to large enterprise customers in verticals from hospitality, automotive and multi-unit franchising to healthcare, Charpentier foresees three key developments in accounting and managing financial workflows for the new year.
1. Financial intelligence to improve the bottom line
Enriching the financial workflow of a company with real-time intelligence will yield tangible benefits for enterprises in 2016. “Customers tell us that, on average, they see an improvement of 0.5 percent to their bottom line. With a company that has a 5-6 percent profit margin, simply automating their financial workflow in the cloud has a significant impact on profitability,” says Charpentier.
The continuing uptake of easy-to-implement cloud services indicates that more and more enterprises will no longer leave this money on the table. Instead, they’ll opt for affordable cloud services that can be up and running without investments in hardware or software and pay for themselves almost instantly.
2. AP Automation lets employees focus on supply chain costs
Combining business intelligence with AP intelligence will become a standard experience for accounting departments and many other parts of an organization. “Services like Yooz that automate the accounts payable process let employees focus on their key task: reducing supply chain costs,” explains Charpentier.
When invoices are ingested into a seamless workflow that reaches all the way to initiating payments, humans are empowered to keep track of cash flow, locking in discounts and rebates. “It’s the year we’ll move from shuffling paper to seeing larger processes and understanding how a business really performs.”
3. Connecting with vendors and partners through an end-to-end solution
Third, enterprises will demand and seek out end-to-end solutions instead of stitching together piecemeal answers to their financial workflow problems. Decentralized enterprises in particular will discover how it lets them get new locations and franchise partners online fast. That way, a company can tie CRM, accounting, billing and payments into a central ERP system.
The result will be building a live network with partners, vendors and suppliers that grows and strengthens relationships one purchase order or invoice at a time. Now, even a small team has the tools and the ability to generate insights from their daily routines. In turn, vendors and suppliers will become part of a company’s value chain, getting a live view into orders, approvals and payments.
Yooz brings intelligence to AP automation. It is designed and built for the era of cloud computing, empowering medium-sized and large businesses to streamline their financial workflow in order to save time and money. Yooz was initially developed and launched by ITESOFT, a European company that has for more than 30 years been a leader in intelligent document capture and process automation. Yooz is now an independent company within ITESOFT-Yooz Group and has more than 1,300 customers. For more information, visit http://www.justyoozit.com and follow us @justyoozit.