How Automation Cuts Invoice Processing Cost and Time
SAP Concur argues accounts payable (AP) is one of finance's most time- and labor-intensive functions. Organizations implementing automated AP solutions report an average 20% decrease in invoice processing costs, process 64% more vendor invoices per month than those without automation, and engage 2.5 times more vendors. 43% of organizations not currently using automated AP solutions will likely switch within the next two years. The article also notes 71% of businesses report some financial loss due to fraud in the past three years.
Impact and considerations
Invoice processing automation can significantly cut costs, raise throughput, and improve cash visibility, directly affecting finance operations efficiency and compliance controls.
Key points
- Organizations implementing automated AP solutions report an average 20% decrease in invoice processing costs.
- Organizations with automated AP solutions process 64% more vendor invoices per month than those without.
- Organizations with automated AP solutions engage 2.5 times more vendors than those without.
- 43% of organizations not currently using automated AP solutions will likely switch within the next two years.
- 71% of businesses report some financial loss due to fraud in the past three years.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 18 May 2023, 20:29
- Page published
- 14 Aug 2026, 08:23
- Last updated
- 18 May 2023, 20:29
- Original links
- SAP Concur Blog：How to Cut the Cost and Time of Invoice Processing with Automation (opens in a new tab)Primary source · en · Published 18 May 2023, 20:29