How AP Automation is Fueling the Era of Strategic Procurement
The article explores how accounts payable (AP) automation empowers strategic procurement. Procurement faces challenges such as expanding spending channels and a decentralized workforce, but automation tools like e-invoicing, OCR, and software solutions can increase control. Data shows fewer than 20% of organizations have fully automated AP processes, and 70% of global invoice processing is still paper-based. Automation provides real-time data, manages long-tail spend, and offers cost savings and compliance benefits.
Impact and considerations
AP automation is crucial for travel and expense management, enhancing data visibility, reducing errors, lowering costs, and supporting strategic procurement decisions, with practical implications for finance teams and travel managers.
Key points
- AP automation provides near real-time spend data for procurement decisions.
- Managing long-tail spend reduces budget leakage.
- Automation reduces processing time by 16% and costs by 29% on average.
- Audit rules reduce non-compliant spend, saving an average of 20%.
- Automation supports vendor consolidation and sustainability tracking.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 17 Oct 2023, 18:48
- Page published
- 14 Aug 2026, 08:21
- Last updated
- 17 Oct 2023, 18:48
- Original links
- SAP Concur Blog：How AP Automation is Fueling the Era of Strategic Procurement (opens in a new tab)Primary source · en · Published 17 Oct 2023, 18:48