Wednesday 19th September, 2012
Newly released research confirms the strong, continuing trend that more companies are implementing front-end automation and automated workflow in order to reduce paper and the inefficiencies and costs associated with manual processing in accounts payable (AP).
According to the report, the share of companies employing or deploying automated workflow solutions has now reached the milestone of more than 50 percent.
The annual study provides accounting and finance professionals insight into the evolution of the marketplace and serves as a tool for them to:
- Benchmark their operations with peer organisations
- Understand the extent of adoption of various forms of AP automation
- Better familiarise themselves with the technology landscape
Conducted by PayStream Advisors and made available in part by ReadSoft, the report integrates trend analysis based on nine years of findings including the most recent data from 300 surveys conducted in the second quarter of 2012.
Henry Ijams, Managing Director of PayStream Advisors, reports "The adoption of invoice automation and automated workflow is on the rise because organisational leaders are recognizing the proven benefits that it brings to their organisations. Whether it's quicker approval cycles, increased productivity or lower processing costs, they know that the technology delivers -- and this drives their interest."
The Free Report, Invoice and Workflow Automation Adoption, Is Produced by PayStream Advisors and Made Available by ReadSoft