Guest Column: Companies Missing Out On Big AP SavingsSource: ibml
By Robert Sbrissa, ibml
In today's economic environment, cost containment is key. Over the past 18 months, organizations have turned over every proverbial stone in search of operations savings and improved productivity.
That's why the results of a new study by IAPP are so startling. The study found that 62 percent of responding AP departments use a minimal amount of automated invoice data capture, meaning they manually enter invoices. In addition, 54 percent of respondents still use a manual process to capture data and facilitate the approval process. These results are especially surprising when you consider that 95 percent of the AP departments surveyed by IAPP are still receiving invoices on paper.