This past year, cloud was all everyone talked about, and rightly so — no on-site hardware setup, easy provisioning of computing resources, flexible capacity usage, instant scalability, multiple back-up options for greater reliability, and the list is long!
The pandemic and ensuing social restrictions have accelerated investments in the cloud, no doubt, but the flexibility and cost-effectiveness of the cloud should have long made it a regular feature within organizations. The general reluctance to move critical business operations to the cloud may have been due to security concerns, especially when considering having proprietary software and critical data on the internet.
But for businesses wanting to cut down on the running costs of managing daily operations that usually take up a lot of capital, including hardware and other on-site resources, cloud is the more feasible option. Cloud meets the immediacy expressed by companies to deploy and run software solutions on the go, without having to shake up existing infrastructure or underlying systems and processes.
We’ll discuss the basics of cloud computing and why it pays to have a well-rounded cloud solution to take care of your mission critical operations.
So, what exactly is a cloud? Well, it is a fancy term to denote the delivery of computing resources and services over the internet. Everything that is needed to implement typical on-site computing such as servers, databases, storage, processing power, software applications, and networking is now available in the cloud.
How does that help, you ask? Well, for one, you don’t ‘own’ a lot of the resources you need to get work done, rather, you just ‘rent’ it out on a subscription basis. This saves companies a lot on capital costs and office space, not to mention the ease of accessing computing resources over the internet without worrying about maintenance and repair, the complexities of hardware and software setup, and storage limitations, typical of small and mid-sized companies.
Cloud computing offers cumulative benefits to growing companies wanting an IT setup that scales as their business grows, but of course, without having to deplete their cash reserves every time they need the latest IT infrastructure to manage a new project.
Instead of generalizing the viability of the cloud over on-site computing, let us look at an application area for the cloud, typically a manual, document-intensive function that requires a lot of computing power. The accounts payable function would be a good example that requires a lot of IT resources and is central to prudent financial management in any company.
Accounts payable is a manual, document-intensive task which, if done wrong, could result in overpayments or underpayments to vendors, and poor debt and cash management. A lot of the manual tasks like data entry, validation, verification and approvals of vendor invoices for use in an ERP system can be automated. Intelligent Process Automation, employing digital transformation technologies like Robotic Process Automation (RPA), AI, Machine Learning, and Intelligent Data Capture, performs straight-through processing of vendor invoices for use in ERPs and related business applications.
Subscription based purchasing reduces the overall cost of deployment and usage of cloud hosted AP automation software.
Want to get vendor invoicing right? Subscribe to Artsyl’s AP invoice automation software. The cloud hosted application integrates with ERPs, ECMs, and a host of other line-of-business applications. This makes it convenient to work on your vendor invoices from anywhere and export accurate AP data to back-end systems, without having to worry about installations, upgrades, data storage, and accessibility.