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Stand Apart From Your Peers with Accounts Payable Automation

Category: Blog   |   Tags: , , ,

Are you wondering how your Accounts Payable department can stand out from your peers? Ardent Partners conducted a study to determine an industry-wide view of accounts payable (AP). Manual invoice processing and paper process inefficiencies were found to be two of the biggest challenges facing AP departments. There are several main indicators which allow companies to determine efficiency. The researchers found the mean of each indicator for all the companies participating in their study. • Average cost per invoice – $14.21 • Average invoices per FTE – 2,308 • Average invoice cycle time – 12.4 days • Average invoice exception … Continue reading