SAP Concur Explains Accounts Payable Automation and Cost Savings
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AP automation directly affects corporate travel and expense management efficiency. For finance and travel managers, understanding AP process pain points and automation ROI helps evaluate the integration value of spend management platforms.
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- SAP Concur BlogSAP Concur Explains Accounts Payable Automation and Cost Savings
SAP Concur published an accounts payable (AP) guide explaining that AP refers to money a business owes its creditors, with a typical process covering invoice delivery, review, approval, and payment. Citing a survey of 420 businesses across five countries, it notes 69% of respondents cited inefficiency of manual processes and 56% reported missing documentation. AP automation digitizes vendor invoicing; AIIM research shows an average 29.2% reduction in invoice processing costs, with nearly one-third of businesses cutting costs by 50% or more.