- Posted:
- Mar 14, 2012
- Published:
- Mar 14, 2012
- Format:
- Length:
- 8 Page(s)
- Type:
- White Paper
- Language:
- English
-
The truth about automated accounts payable
Sponsored by: Iron MountainStaying stuck in a non-automated, paper-based Accounts Payable process results in anywhere from 3.5 to 2.3 days to process a single invoice. The cost of processing can range from $5 to $25 for a single invoice.
By contrast, automating the process of Accounts Payable can result in a 90 to 95% reduction in paperwork as well as a 25% improvement in labor productivity.
So, why - especially in today's volatile economic environment where every dollar matters more than ever - would an organization overlook an obvious and easily implementable business advantage?
It's an interesting question.
Much of the answer, though, stems from a series of myths and misconceptions about the automation that often governs behavior.
Read this brief paper now and get to the bottom of five myths that may be holding your business back from spectacular cost savings in your Accounts Payable department.