Eliminating paper is one of the top process improvement goals for most accounts payable (AP) departments. While data capture and scanning tools are common methods to reduce paper, the use of more holistic AP tools, like invoice workflow automation (IWA) software, has not substantially increased in recent years.
Two-thirds of companies still spend between 1 and 8 hours per week resolving AP processing issues. Many companies rely on their own efforts to improve processes, such as emailing invoices for approval, but email alone can’t fix all the problems created by manual invoice processing. By automating invoice management with IWA software, AP departments gain the additional benefits of integration with their ERP and handling more complex workflows, including lower processing costs and faster approval times.
This latest report from PayStream Advisors examines the difference between trying to improve processes with existing tools and fully automating invoice management with a dynamic IWA solution. Download the report to learn more about: