In a world where businesses must leverage technology to do more with less, its surprising that most AP departments today realize less than 20 percent automation from their AP invoice automation solutions. A number of AP challenges derail traditional invoice automation solutions.
Some 60 percent of all invoices arrive in paper or email format. That requires manual processing that is costly, prone to error and time-consuming; often invoices can take up to 20 days to process. Whats more, 55 percent of invoices have more than two exceptions complexity that can undermine automation and business performance.
Most invoice-processing software platforms are not truly integrated with ERP systems. As a result, critical validation to identify issues up front in invoice processing never happens, so invoices get stuck in limbo, waiting for special attention from the personnel pool while the time and cost of processing grows.
In a sector thats filled with stagnant approaches based on the same technology that has been in place for decades, Inspyrus uniquely offers patent-pending technologies and a next-generation approach that redefines AP automation by combining invoice automation, early-pay discount management, and supplier enablement in a single application that is integrated in real-time to the worlds leading ERP systems.
Read the CMSWire interview with Nilay and Chris on best practices to break away from aging AP operations and improve ROI from existing ERP investments.