E-Invoicing Delivers Tangible Benefits to AP Departments

E-Invoicing Delivers Tangible Benefits to AP Departments in PayStream Advisors Annual Benchmark Survey. Seventy percent of companies surveyed either use or are evaluating an e-Invoicing solution; OB10, the leading global e-invoicing network, ideally positioned

A reduction in processing costs, errors and exceptions, and better visibility across the transaction lifecycle are just some of the benefits in store for Accounts Payable departments when they transition to an electronic invoicing solution, according to PayStream Advisors’ 2011 e-Invoicing Adoption Benchmarking Report.

The annual report provides insight into trends found with US-based companies in the areas of electronic invoicing, payments and emerging working capital solutions. The survey revealed that even though OCR has been around for a long time, it still has very low traction and is viewed as incomplete. In contrast, about 70% of the companies surveyed revealed that they currently use an e-Invoicing solution or were evaluating one in the future – an increase from last year’s results. The growth in the interest of e-Invoicing solutions is driven principally by the need for greater visibility and shortening approval cycles

“Our research indicates that more companies are investigating automation as part of their invoice receipt-to-pay process,” said Henry Ijams, Founder and Managing Director of PayStream Advisors. “As electronic solutions continue to mature, there exists significant potential to streamline the front end of the process through the implementation of advanced tools such as electronic invoicing.”

“As the leading global e-Invoicing network, we see first hand the challenges companies face when determining the best way to transition from paper to more efficient AP solutions. Ultimately, it all comes down to execution,” said Peter Watson, Senior Vice President, OB10. “Once they make e-Invoicing a core component of their back office accounts payable operations, they are able to streamline their processes, save money, better manage cash flow and increase efficiency in a way that allows them to maintain control and provide greater transparency.”

To learn more about the results of the PayStream Advsisors e-Invoicing Benchmarking Report., register today for the free April 27 best practices webinar at http://www.iofm.com/products/view/e-invoicing-benefits-webinar4-11

To download a copy of the 2011 PayStream Advisors e-Invoicing Adoption Benchmarking Report, go to http://ob10.com/Country/US/PayStreamSurvey

Source: PRWeb

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