In my opinion, yes. When submitting an offer on a home with multiple offers, and all cash offer will stand out because with an all cash offer there is not a need for an appraisal or loan contingency. This is a very attractive offer to a seller since in the current market the loan and appraisal contingencies can be difficult at times.
Here is the caveat--- if there are multiple offers and an all cash offer is significantly below other offers than come in, the sellers may decided to go with the higher offer even with all of the contingencies. It will really depend on the seller's situation. Is this a short sale? Do the sellers have to sell quickly?
Work with your Realtor to try and get the best feel possible for the seller's situation and motivation. This information, along with information regarding the market trends in the area where the home is situated will help you to make the best possible offer.
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