A new in-depth study was conducted across 178 accounts payable professionals where more than 60% of the respondents were mid or senior-level leaders. This research report covers a wide-range of AP benchmarks across process metrics, technology adoption, and organizational collaboration and effectiveness. The study results show a function that is at a “tipping point” to realize dramatic gains and also repositions the functions as one with strong strategic value. This report captures real data and insights that AP leaders can apply today to transform their operations and become “Best-in-Class” performers.
Download the “AP Report Card” research report now to discover the following key insights from the survey:
- OCR technology is no longer a game changer and has become obsolete with only 7% respondents using OCR technology to extract and structure invoice data
- Growing popularity of supplier e-invoicing portals amongst the senior AP leaders with more than 50% of the senior respondents planning to invest in a e-invoicing supplier portal
- Rising importance of advanced analytics within the AP department indicated by 60% of the respondents who wish to get in-depth analytics for their invoice processing time at a mouse-click
- Touchless processing is the new age AP automation technology where more than 30% of AP organization are planning to invest in the next 12-24 months
- Self-Assessments & Collaboration – How does the AP organization perceive its value to the enterprise as compared to stakeholder’s perceptions of AP? Does AP “play well with others” – how effective is AP in cross-functional collaboration? And how does AP measure the effectiveness of its operation?