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Corcentric: “Dumping paper invoices is vital for business relevance”

More than ever, businesses across industries are discovering that the result of neglecting improvements in the invoicing and payments function of the accounts payable department translates to a loss in time, revenue, and efficiency.

A mixture of system and human failures conspires to leave invoices unprocessed, unapproved, and unpaid. Executives should be laying the groundwork now for a strategic finance plan in 2018 and beyond that includes a cloud-based, end-to-end payables solution. The benefits are apparent and documented. With e-invoicing alone, the average cost to process a single invoice is 81% lower than the competition, while the average time to process a single invoice is 77% faster, according to a research study.

This article was originally posted PaymentsSource here


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