In the age of peer-to-peer mobile payments and direct deposits with the push of a button on a phone app, the thought of your company having to pay vendors via snail mail, paper invoices, checks and manual signatures seems rather archaic. While checking every box and monetary amount is important, especially from a legal standpoint, using an automated payment system, like Bill.com, can prove to be more efficient, easy and secure than the tried-and-true traditional paper accounting process.
So, why should you switch to a cloud solution?
According to a study done by Cisco, “global mobile traffic is expected to grow by 39 times its current volume by 2021,” which means that the shift to doing all things mobile and cloud is well on its way. With cloud solutions like Bill.com, your documents and invoices can be easily stored and retrieved at any time, and even better, the whole bill pay process is simplified and can be carried out by any mobile device with an Internet connection.
There’s no time like the present! Bill.com is used by Internet giants like Mozilla and large business consulting firms like Woodard Consulting, so it’s safe to say that automated payments are a step towards the future. Just like credit card and utility bills, paper statements and invoices will soon be a thing of the past. Why not benefit by going green and make all your accounting processes virtual?
Here are 3 benefits to using cloud solutions:
1. No more paper trail: Payments can be accessed on your mobile device or cloud application anytime, anywhere without having to organize paperwork or reissue checks.
2. Less room for error: With Bill.com, you can track each part of the AP audit trail and store documents virtually. Electronic payments can cut time spent on paying your vendors in half.
3. Ease of use: Streamlining the AP process, bills can get approved and paid in four easy steps. Just upload the bill, validate the details, approve the bill, then pay it. Bills can be signed and delivered without the need to wait for signatures, since it’s all done digitally. International payments can also be sent without any wire transfer fees.
Cloud-based and Mobile Bill Payments
By utilizing automated payments with Bill.com, LTD Global not only cleans up the back-office processes that your business needs, but also utilizes the ability to organize, control and process payments with quickness and ease. With no need for paper to be transferred between desks and no need to wait for a CEO to sign physical checks, the bill pay process has never been easier to outsource.
When your business uses an automated system, that means no more late payments. LTD Global ensures that your company’s bills are paid on time, every time. If you want jump on the digital wave of the future and take the mess and the stress out of bill pay, contact LTD Global for more details.