At least that is what the results of a recent survey (conducted by Accounts Payable News and funded by Basware) wants to tell us. From looking at the figures, it seems there is a major shift in the way P2P departments collaborate. The survey highlights the introduction of Heads of P2P, or Global Process Owners as a key driver of this change. And there is more:
- 60% of the respondents identified cost reduction as the major challenge for 2013
- 58% of departments now work closely together, resulting in increased organisational level recognition for Accounts Payable (A/P) departments.
- 43% of the larger UK companies now use einvoicing, a 6% rise over last year
- only 35% regularly measure exception rates
- 35% measuring both auto match and exception rates – being able to reduce costs remains a strong challenge.
- 34% of the respondents state that keeping track of invoices is their biggest operational issue,
- 29% can’t track their cost per invoice
The data for the report is derived from a January – March 2013 survey of 128 senior influencers and decision makers involved with Accounts Payable and across the whole P2P process. The participants came from a cross section of businesses including oil & gas, logistics, banking, construction, health, manufacturing, retail and public sector.
Cláudia Wada on