How AP Automation Benefits Your Business
SAP Concur published an article discussing the benefits of accounts payable (AP) automation. It notes that 70% of organizations are not automated across financial processes, and manual invoice processing can take up to 9.5 hours per invoice. AP automation uses technologies like e-invoicing and OCR to improve spend visibility, optimize supplier contracts, reduce risk, and improve cash flow forecasting. The article also discusses where to start and the importance of change management.
Impact and considerations
AP automation can significantly improve financial operations efficiency, reduce risk, and enhance cash flow, offering important reference for companies pursuing digital transformation.
Key points
- 70% of organizations are not automated across financial processes, and manual invoice processing can take up to 9.5 hours per invoice.
- AP automation uses e-invoicing, OCR, and automated travel and expense solutions.
- Automation improves spend visibility, helps renegotiate contracts, and prevents duplicate payments.
- Start small and prioritize automation based on business needs and high-risk areas.
- A strong executive sponsor is crucial for driving change and training employees.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 26 Jul 2023, 19:46
- Page published
- 14 Aug 2026, 08:22
- Last updated
- 26 Jul 2023, 19:46
- Original links
- SAP Concur Blog：How AP Automation Benefits Your Business (opens in a new tab)Primary source · en · Published 26 Jul 2023, 19:46