Some solid stats that confirm why is it necessary to digitize (and automate) accounts payable function. Digitization leads to greater security for all processes, data, and compliance. With the automation and digitization of the AP function, you can expect savings of 30% to 70% on administrative costs

1. Why Digitization of
Accounts Payable
is Necessary?
More than
57%
of Businesses have
Increased their use of
digital services for
B2B payments since
the start of the pandemic
Nearly
38%
Have encountered cash
flow issues associated
with late payments and
slow processing times
for cash and checks
On Average
42%
of invoices take
in between one
day and one
week for approvals
About
24%
of the average AP
department’s staff time
is spent working directly
with suppliers to fix
invoices, processing,
and payment issues
$ $
$
$
24 $ $
$