 Enterprises are increasingly aware that paper and people-based processes lead to high Accounts Payable transaction costs and missed business opportunities. In a recent survey, approximately half the organisations interviewed stated that they had problems with manual data entry, inefficient processes and manual routing of invoices for review and approval. Other issues were lost or missing invoices, a high number of discrepancies and exceptions, an inability to see outstanding liabilities and no way to capture all discounts offered by suppliers.
This White Paper examines the recent research findings carried out by several independent business analysis companies, namely:
It breaks down the AP automation issues faced by organisations and highlights the numbers behind the proof that there are major benefits to be gained in implementing an AP automation system. It also shows the criteria for selecting a solution provider and how organisations need to make sure they choose an experienced provider such as ReadSoft to guide them through a proven process. The sources of the facts and figures that support this evidence are provided in the conclusion of this document. These consulting companies conclude that there is tremendous potential for improvement by automating the AP process – namely invoice receipt, invoice matching, and approval workflow. Related Resources
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White Paper: Accounts Payable – Automation Benefits