Five Benefits of Deploying a Supplier Portal
Give your Accounts Payable Process a Makeover with the Power Punch of Five
There is no question that manually processing invoices takes too long, costs too much, creates too many errors and provides inadequate visibility. Yet, only one-quarter of businesses worldwide have fully automated their accounts payable processes with technologies such as a supplier portal, according to the Institute of Financial Management (IOFM).
There are numerous reasons that accounts payable organizations cite for continuing to rely on manual or semi-automated invoice processes. But the primary reason why many accounts payable organizations have not automated their invoice processing is that they are unaware of the benefits of automating their process by means of an e-invoicing supplier portal
The infographic talks about the following (as per the latest IOFM research report):
- The cost benefits one can bank upon by deploying a Supplier Portal
- The improvement in the key AP metrics due to automation
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