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Are You the Company’s Invoice Guru? Here's How to Improve Your Processes
1reports1reporting sources2022-06-29Update
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Automation can free AP staff time, reduce late fees and duplicate payment risks, improve supplier relations, and boost employee satisfaction.
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6月29日
- SAP Concur BlogAre You the Company’s Invoice Guru? Here's How to Improve Your Processes
The article notes that many SMBs rely on a single employee for AP, and manual processes are time-consuming and expensive. An IDC study found that after moving from manual to Concur Invoice automation, total processing time per invoice dropped 53%, staff time decreased 64%, savings equaled $7,537 per 1,000 invoices, vendors received payments 51% faster, delayed payments fell 67%, IT staff time fell 29%, and overall annual benefits reached $14,953 per 1,000 invoices.