Going from traditional paper-based invoice processing to paperless processing brought these benefits for one manufacturing company:
- Reduced invoice processing time from more than one hour down to 15 minutes.
- Achieved a 90 percent classification accuracy
- Lowered the processing cost per invoice from about $63 to less than $16
Just how were they able to achieve such results, and can your business expect a similar outcome from going paperless? The answer is yes. And, no.