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Uncovering Hidden Costs and Opportunities in Invoice Processing

1reports1reporting sources2022-06-29Update

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Invoice processing is costly; automation significantly reduces expenses and improves accuracy, saving money and enhancing financial visibility.

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6月29日
  1. SAP Concur Blog
    Uncovering Hidden Costs and Opportunities in Invoice Processing

    This SAP Concur blog post explores hidden costs in invoice processing. According to AIIM research, the average cost to process a single invoice is $12.90. A typical SMB processes 450 invoices per month with a duplication rate of 1.29%, and labor costs make up 62% of total AP costs. The article recommends reviewing AP systems, centralizing invoice submission, and adopting automation to reduce errors.