Why U.S. AP Leaders Shouldn’t Wait for Electronic Invoicing

The average business receives 28 percent of its invoices from suppliers as paper, per the Institute of Finance and Management’s (IOFM) Future of Accounts Payable Survey. Moreover, 31 percent of supplier invoices arrive as an e-mail attachment (usually in PDF format); many e-mailed invoices are treated as paper because the buyer lacks the technology to process the invoice electronically.

Only 17 percent of the invoices received by accounts payable departments in the United States currently arrive via an electronic invoicing portal or an electronic invoicing network, IOFM’s Future of Accounts Payable Survey finds. In fact, thirty percent of accounts payable departments operate in a completely or mostly manual, paper-based environment (with 9 percent of departments operating in a completely manual environment, and 21 percent operating in a mostly manual environment, respectively).

Download this whitepaper to find out why you should move ahead of your competition and explore electronic invoicing.