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manual invoice entry into ERP or accounting systems fell to 60% from 85% in 2023. 64% of respondents cited stress from outdated processes as their biggest hurdle, and 40% pointed to strained vendor relationships.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.