Every so often, businesses struggle with this segment namely because they still rely on paper-intensive, manual, and repetitive work.
And the result?
Tedious work, sluggish document and invoice processing, hours wasted, and your accounts payable department making more errors and faulty reports due to incorrect figures. Even if companies receive more digital invoices, they are still printed out and filed as paper copies, which almost always leads to inefficient handling of paper content. You understand that’s no way for accounts payable to function if you want to see any real results, don’t you?
For all management novices out there, let’s look at the numbers a moment for a few more insights. Research from AIIM shows that on average, it takes almost 9 days to process an invoice, at a cost of over €8 per invoice.