Power of PAYBOX®
Accounts Payable (AP) Invoice Management in a Networked Economy
Accounts payable (AP) has the potential to drive enterprise value through two important avenues: operational efficiency to lower costs, and trading partner collaboration to capture discount-based savings and improve supplier relationships.
A new study conducted by Aberdeen Group, and sponsored in part by Direct Insite, explores how Best-in-Class enterprises are improving both the internal and external facets of their financial operations, demonstrating the benefits of managed AP as part of a wider, networked economy.
Among the key findings of the study:
- Best-in-Class companies process invoices 75 percent faster than Laggards
- Best-in-Class companies process invoices 80 percent cheaper than Laggards
- Best-in-Class companies capture over five times as many available early-payment discounts as Laggards
- Best-in-Class companies pay 20 percent more invoices on-time than Laggards
- Best-in-Class companies have achieved straight-through processing of four times as many invoices as Laggards.
The study, conducted in March and April of 2012, is based on the responses of over 180 organizations, exploring how Best-in-Class enterprises are leading the way toward improving both the internal and external facets of their financial operations.