2018 Payables Insight Report by PayStream Advisors
Automating your payables processes can result in increased savings, increased efficiency, bottom-line improvement, and a greater competitive advantage. This, in turn, leads to optimization of both cash flow and working capital. But many organizations aren’t sure how to fix their processes and where to start their search.
Download our white paper, “2018 Payables Insight Report,” from PayStream Advisors, and learn how a holistic view that covers not only the current state of e-payables adoption but also the barriers to acceptance and implementation.
The white paper reports that 82% of companies that adopted an e-payables solution saw noticeable improvements, yet when it comes to:
- Invoice Receipt – 70% of those surveyed still receive paper invoices or as email attachments, while only 30% use a true electronic method of a supplier portal or EDI/MXL.
- Invoice Management – 52% of those surveyed use some form of invoice workflow automation which leaves 48% still reliant on manual workflow which can lead to late payments and lost discount capture.
- Payments – Nearly half of all companies surveyed still pay suppliers via paper checks even though vCards and ACH through an electronic platform cost less and are more efficient.
Find the answers to your questions and how to conduct your search by downloading this white paper.