New Study Details How Enterprises Can Cut Invoice-Processing Costs by Over 90%
Aberdeen Group, a Harte-Hanks Company (NYSE: HHS), announced the release of its most recent e-payables research study, E-Payables: Invoice Receipt and Workflow. In modern economic times, enterprises are focused on cost containment and driving efficiencies within their accounts payable department. Invoice receipt and approval workflow, the initial phase of the A/P process, must be mastered by organizations in order to realize value from overall A/P efforts.
The research report, which examined the priorities, intentions, and performance of more than 130 enterprises, found that 75% of enterprises are currently using manual methods of invoice-processing, which inflates both processing costs and cycle times.
You can download the full report here.
The University is implementing an eMarketplace to support our value for money strategy, improve the value on the products we purchase and ensure our academic staff continue to have access to high quality products for the benefit of our students. ProcServe’s eMarketplace, Zanzibar, will help us achieve these goals. We look forward to improving our purchasing processes and gaining greater control over the whole procurement process by being part of the ProcServe Trading Network.
Martin James, Director of Finance, University of the Arts London
