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Invoicing and Workflow: Integrating Process Automation to Enhance Operational Performance
Aberdeen Group, May 2011, Pages: 22
Paper invoices and manual processing continue to hamper accounts payable operations, keeping suppliers in the dark and failing to give finance the visibility it needs to actively manage organizations' cash positions.
This study, conducted during March and April of 2011, profiles 130 enterprises at varying stages of AP maturity to identify what differentiates those achieving the greatest results from their less successful peers. The end goal, and the target of their automation efforts, is to drive savings through discount capture, penalty avoidance, and lower labor costs – all while improving the speed with which they can access payables-related information.
Best-in-Class Performance:
Aberdeen used the following three key performance criteria to distinguish Best-in-Class companies:
- 3.8 days to process a single invoice
- $3.09 average cost to process a single invoice
- 4.1% year-over-year increase in early payment discount capture
Key report benefits:
- Capture More Early Payment Discounts
- Cut Late Payment Penalties
- Lower Processing Costs
Aberdeen's Research Benchmarks provide an in-depth and comprehensive look into process, procedure, methodologies, and technologies with best practice identification and actionable recommendations
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