Five Very Good Reasons to Automate Your Accounts Payable Management
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The article provides concrete quantified benefits from IDC research on AP automation, including payment speed, error rates, productivity, and compliance rates, giving finance managers data to evaluate AP automation investment.
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- SAP Concur BlogFive Very Good Reasons to Automate Your Accounts Payable Management
A SAP Concur blog post cites International Data Corporation (IDC) research analyzing the costs and benefits of switching to a cloud-based accounts payable solution. It lists five reasons: cloud AP solutions redefine how businesses engage with stakeholders, with average time to pay vendors accelerating by 51% and late payments cut by 67%; manual AP processes are slow, inefficient, fragmented, and prone to error, with one business reducing its error rate by 90% after automation; invoice management software provides a more accurate picture of finances; automation improves user productivity, with line-of-business employee productivity up to 11% and IT staff productivity gains equivalent to $23,…