The Institute of Finance and Management (IOFM) reports that it costs businesses $11.76 to process a single paper invoice and about 70% of invoice processing costs are related to document handling and manual data entry.
Find out if you could reduce costs and increase efficiency in your AP department!
What percent of invoices do you receive electronically?
What percent of electronic invoices received do you print during processing?
What percent of your invoices do you approve using automated workflow or P.O. matching?
What percent of invoices do you load into your accounting system by manual data entry?
What percentage of available early payment discounts are you able to use?
How confident are you that your accounting processes are both completely compliant and 100% secure?
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