Creating a paperless invoice processing/AP Solution can add efficiency and reduce costs.

1. Accounts Payable Automation:
Solving the Paper Pain

2. Accounting = Paper
•The analyst firm Gartner
believes that, in the
United States, about 75%
to 80% of invoices are still
paper-based.
Source: Gartner, Accounts Payable Invoice Automation, Gartner RAS
Core Research Note G00163833, December 2008

3. The Costs of Paper
•Companies spend $20 to file a
document (Time, materials, copy, etc.)
•$120 in labor to find a misfiled
document
•$220 to reproduce a lost
document
Association for Information and Image Management (AIIM)

4. Shipping and Mail
•Branch to HQ Shipping Costs
•Regional offices send all their
invoices to HQ for centralized
processing
•Even those that scan have image
management issues
•Time delay

5. Payment Cycles
•According to IOMA, 25% of
all invoices are paid late
•Increased cycle times with
paper
•Data entry errors can lead
to added time to search and
find invoices
Institute of Management Administration

6. Searching and Locating
•Audits and legal issues
can cost $$$
•Physical file searching is
painful
•Costs of finding, removing,
copying and replacing files
•Customer service issue

7. Archive and Storage
•Long term storage costs
•File cabinet space
•Disaster recovery

8. Top Benefits of Digital AP
0.26
0.29
0.34
0.34
0.36
0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4
Reduced Cycle Times
Audit Process Improvement
Improved Visibility of Process
Lower Processing Costs
Fewer Lost Invoices
Accounting and Finance Survey
Imaging Adoption Survey by
Paystream Advisors

9. Filing Time/Cost Comparison
•Storage Costs for Paper
–Time to File: 5 minutes
–Cost of Filing Invoice: $1.67
•Scanning and Imaging Costs
–Time to File: 30s to 1.5m
–Cost: $ .50
*based on $20 per hour

10. Summary
Paper processing is expensive
Digital AP provides a variety of
benefits
Efficiency
Productivity Gains
Reduced Costs
Invoice Processing Solutions
by inFORM