My firm implements accounting software for mid market organizations. Part of that implementation has been Accounts Payable - Vendors, Vouchers, Checks, etc.
We are starting to see some of our customers that are taking the entire AP function and moving it to the cloud by using Bill.com, an innovative new cloud solution for moving Accounts Payable to the web.
Vouchers are scanned to the Bill.com web site, assigned to a vendor and coded to the chart of accounts. They then route to approvers through the internet with email notification and finally, Bill.com will send an ACH payment or cut a check.
Approvals are automated, voucher image library is built, no software or hardware is required and fees are nominal.
And Bill.com will perform the same functions for Accounts Receivable - allowing you to create invoices, route them to customers and receive payments. With AP and AR on the same system, cash forecasting is also supported!