Facts & Figures

Times are changing, and it is an absolute necessity to take advantage of what technology has to offer in order for your business to reach its maximum profitability and potential. It is time to catch up to your competitors who are already taking advantage of what technology has to offer. Advance to the next generation of paperless integration and crush your competitors who are stuck doing things the old-fashioned way.

• Five years ago less than 1% of companies were transacting electronically now that number is up to 20% (source: IOMA research) The competition has already started to take advantage of the technology that is out there.
  
  
• 86% of invoices are still printed on paper (source: Gartner Group) The time has come to move ahead of the competition.
  
  
• Salary related costs can be cut 87% with electronic invoice processing (source: IOMA research) Think about what kind of impact that could have on your company.
  
  
• Only 20% of companies have done a formal study of accounts payable costs (source: IOMA research) Do you know how much your AP process is costing you?
  
  
• Capturing invoice data, invoice approval, invoice archiving/retrieval, and missed cash discounts due to slow processing account for 72% of the cost to process an invoice. (source: IOMA research) Receiving invoices electronically and processing them online would drastically reduce the cost to complete all of the costly tasks listed above.
  
  
• An average organization makes 19 copies of each document and spends $20 in labor filing each of those documents. (source: PricewaterhouseCoopers) The need to make copies and file documents is eliminated when you switch to paperless integration.
  
  
• Companies spend $120 in labor searching for missing or misfiled documents (source: PricewaterhouseCoopers) With electronic invoices, there is no such thing as a missing or misfiled document; that expense is eliminated immediately.
  
  
• Businesses lose 1 out of every 20 documents and spend 25 hours of labor obtaining a new copy of the lost document. (source: PricewaterhouseCoopers) With a 24/7 data warehouse, all of your invoices are archived and available at your fingertips instantaneously.
  
  
• U.S. businesses spend $360 billion annually turning information from the documents they receive every day into something they can use to run their businesses. (source: Gartner Group) We provide you with the reporting capabilities to take all of your purchasing information and organize it so that it has value to your company.
  
  
• The typical company with 1,000 knowledge workers wastes $6-$12 million per year searching for nonexistent information, failing existing information, or recreating information that can’t be found. Knowledge workers spend 15% to 30% of their time looking for information. Our data warehouse and reporting capabilities insure that the information you are looking for will always be there, and will always be organized exactly how you want it.

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