Improving Visibility and Efficiency: The Lure of Automated AP

The article notes that despite cloud technologies, most companies still rely on manual AP. An IFO study shows on average 50% of invoices are received by paper, 37% by email and 5% by fax. A 2016 Aberdeen Group study found manual invoice approval takes an average of 17 days and costs $31 per invoice. Ardent Partners research shows automation can reduce invoice processing costs by up to 70%.