If you don’t want the hassle of updating packaged software and performing regular backups of your accounts receivable/accounts payable data, AR/AP online services could be just what you need.
With online services you access AP/AR tools over the Internet, using a Web browser to enter transactions. Reports are prepared on your local printer. The critical applications software along with your company’s AR/AP data resides on a remote server.
The company providing the software as a service will update the AR/AP software at its end. The process will appear seamless to you. Usually you’ll just notice a few more options after each update. Similarly, your customer and vendor records will be automatically backed up on a regular basis.
Web services require you to have more faith in the vendor than packaged applications running on your in-house computer hardware. You depend upon the vendor to not only develop the application and keep it up-to-date but also to maintain a server that delivers a high degree of availability and safeguards your vital company data.
You also must have a reliable broadband Internet connection. They’re cheap and easy to get in most major population centers, but rural users may balk at AR/AP online services, given the higher cost and sometimes the lower reliability of their Internet service.