How Much Do Manual Invoice Processes Cost? Is it Worth It?
What if you could automate your A/P Processing? If you’re thinking about digitizing invoices, you’re not alone! The Institute for Finance & Management (IOFM) indicates that 70-80% of invoices are still paper.
- Fact: 66% of Invoices are on paper
- Fact: $11.66 is the average cost to process a paper invoice
- Fact: 62% of labor costs are consumed by A/P
So, what are you supposed to do? You can’t change the way people invoice you. They send them in paper, so you have to process them that way, right? WRONG! You can change the way you process them. Accounts Payable automation helps you enhance A/P process efficiency, improve control of information, and save money. Here’s how…