The accounts payable function has risen to prominence in recent years as a back-office after-thought that can be transformed into a useful cash management mechanism. However, recent Aberdeen research has found that the majority of enterprises are still employing manual methods of invoice-processing, which has inflated both processing costs and cycle times. The E-Payables: Invoice Receipt and Workflow benchmark study, encompassing the intentions and strategies of over 130 enterprises, found that 75% of organizations are currently mired in a manual and paper-based rut in managing the initial phase of the accounts payable process.

Readers will take away actionable benefits by understanding how:

1. Best-in-Class companies have actively reduced their overall
   invoice-processing costs by nearly 91%.
2. Best-in-Class companies have lowered their invoice cycle time by nearly 92%.
3. Best-in-Class companies spent 31% less time responding to invoice inquiries than all other enterprises.
4. Best-in-Class companies have reduced their invoice exception rate by over 10%.
5. Best-in-Class companies hold 25% greater visibility into invoice receipt and processing than all other enterprises.