2024 accounts payable automation trends report: key takeaways
An accounts payable automation trends study sponsored by SAP Concur and conducted by IFOL found 52% of AP professionals now spend fewer than ten hours per week processing invoices, down from 62% a year earlier; manual invoice entry into ERP or accounting systems fell to 60% from 85% in 2023. 64% of respondents cited stress from outdated processes as their biggest hurdle, and 40% pointed to strained vendor relationships. Only 7% currently use AI for spend management, but 40% are considering adoption within the next year.
Impact and considerations
The report data reflects progress and bottlenecks in AP automation, offering reference value for finance and spend management teams evaluating automation investments and AI adoption timing.
Key points
- 52% of AP professionals now spend fewer than ten hours per week processing invoices, down from 62% a year earlier.
- Manual invoice entry into ERP or accounting systems fell to 60%, from 85% in 2023.
- 64% of respondents cited stress from outdated processes as their biggest hurdle, and 40% pointed to strained vendor relationships.
- Nearly three-quarters of webinar attendees said their AP function is only partially automated, and a tenth had no automation at all.
- Only 7% currently use AI for spend management, but 40% are considering adoption within the next year.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 25 Jun 2024, 19:52
- Page published
- 14 Aug 2026, 08:14
- Last updated
- 25 Jun 2024, 19:52
- Original links
- SAP Concur Blog：2024 Accounts Payable Automation Trends Report: Key Takeaways (opens in a new tab)Primary source · en · Published 25 Jun 2024, 19:52