Accounts Payable Slow to Adopt Paperless Invoicing
Businesses could save money and decrease environmental impact by modernizing their accounts payable departments, which lag other business departments in reducing environmental impact.
About 83 percent of A/P departments are managing about the same amount of paper invoices as they did four years ago. Meanwhile, about 68 percent of A/P departments are processing the same amount of manual payments as they did four years ago, according to the “E-payables Benchmarking 2009: Accounts Payable Rising” study from the Aberdeen Group.
Ironically, despite the lack of a move to paperless invoicing, about 70 percent of A/P departments report being under “high” pressure to reduce costs (see above chart).
Here is a look at how best-in-class A/P departments are outpacing their peers in use of processes, organization, knowledge and technology.
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