Is your AP process dragging you down? Believe it or not, there are drastic differences in the efficiencies of a company’s workflow.
A 2011 study by the Aberdeen Group benchmarked Accounts Payable processes in various organizations, showing surprising disparity. Let’s take a look at some stats.
Here we can see a relationship between Class and overall performance. Just comparing the amount of time it takes to process one invoice, there’s a 17 day difference between the Best and Worst Class!
There are clear benefits that come from reducing invoice costs and capture times through automation and streamlining of AP process, but how exactly are the Best Companies able to achieve such superior results?