SAP Concur: 5 Ways It Pays to Pay Vendors on Time

A SAP Concur blog post states that processing a paper invoice costs $23 on average, while automation reduces the cost to $3.41 and cuts processing time by up to 75%. It lists five benefits of paying vendors on time: capturing maximum early-payment discounts and avoiding late-payment penalties and interest; building a positive reputation; receiving VIP service and pricing from vendors; preserving good credit; and gaining vendor flexibility during cash flow crunches. It also notes Concur Invoice gives suppliers a portal to view payment status and remittance information.