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SaaS continues to streamline finance operations
Software as a service (SaaS) is enjoying greater uptake among finance and sales staff, as the cloud-hosted service makes it easier for employees to streamline workloads, make better informed business decisions and improve customer service.
According to a recent survey by UNIT4, 47 per cent of salespeople said that invoicing delays are a common source of cash flow problems for their business, with 25 per cent of respondents estimating that at least $5,000 (£3,300) is delayed each month due to errors in invoicing. Nearly 17 per cent of those questioned also recounted seeing payment in excess of $50,000 (£33,000) delayed for the same reason.
Writing for Freshbusinessthinking.com, David Turner explains that SaaS offers an effective solution for these invoicing errors and other delays in payment that typically trouble business operations. By moving away from less reliable practices in which sales data is rekeyed by hand, by individuals in businesses where CRM and finance do not communicate, businesses can enjoy significantly improved services when moving finance operations to the cloud.
Mr Turner explains: "Just by eliminating this one error-prone step, companies can dramatically improve the accuracy of their invoicing. Not only does this help ensure steady cash flow, it helps put customer relations on a solid footing. Accurate billing alone can't make good customers, but it certainly helps."
There are also other benefits to employing SaaS to handle business operations, beyond boosting efficiency. "Cloud accounting also makes it possible to go paperless in almost all interactions with customers and suppliers," Mr Turner explains.
"Not only do many clients prefer the paperless option, it's clearly better on the environment and involves less admin time and expense."
Written by Dave Warburton
- Categories:
- Software as a Service
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