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Improving Visibility and Efficiency: The Lure of Automated AP
1reports1reporting sources2022-06-29Update
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Manual AP processes are time-consuming and costly, affecting spend visibility, compliance and supplier relations; automation can significantly reduce costs and improve cash flow management.
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6月29日
- SAP Concur BlogImproving Visibility and Efficiency: The Lure of Automated AP
The article notes that despite cloud technologies, most companies still rely on manual AP. An IFO study shows on average 50% of invoices are received by paper, 37% by email and 5% by fax. A 2016 Aberdeen Group study found manual invoice approval takes an average of 17 days and costs $31 per invoice. Ardent Partners research shows automation can reduce invoice processing costs by up to 70%.