It’s a great study to use as a benchmark in your organization and should give you an idea if your accounts payable automation is truly automation . Scott Pezza and William Jan, the authors, describe Best-In-Class performance with three metrics: 4.1 days to process an invoice from receipt to approval $3.34 average cost to process an invoice from receipt to approval 90% capture rate for available early-payment discounts They attribute automation as one of the key factors in all three metrics
This is all possible through process automation. TCM automation is not simply scanning paper documents into a data repository
However, there is one topic of interest that never changes in popularity and that is accounts payable automation...In this post, I break out the five must have considerations for ANY successful AP automation project
As corporations struggle to improve their financials and increase their ROI’s it would benefit them to take a hard look at what a company can do to improve the environment. Take these facts for example, based on each i nvoice it takes one average tree to produce 2778 invoices. With...