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How Automation Cuts Invoice Processing Cost and Time
1reports1reporting sources2023-05-18Update
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Invoice processing automation can significantly cut costs, raise throughput, and improve cash visibility, directly affecting finance operations efficiency and compliance controls.
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5月18日
- SAP Concur BlogHow 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.