Catch the highlights of The True Benefit of Driving Automation Across The Entire Supply Chain webinar hosted by Ankita Tyagi of the Aberdeen Group and Joe Hyland, Chief Marketing Officer of Taulia.
Many key findings from the Aberdeen Group ePayables & AP Automation whitepaper were presented during the webinar, including the significant difference in time and cost to approve and process each invoice at best in class organizations and laggards.
The top three pressures that drive ePayables initiatives involve customer service and operational efficiencies. A high volume of invoices make it difficult for organizations to organize paper-based documents, therefore adding time to the approval and payment process.
Buyers and suppliers both want financial visibility, but manual invoice management and processing substantially delays real-time financial updates, weakening their relationship and hindering visibility into cash management positions.
Buyers need to manage different interest rates for their supplier base because every supplier needs to be treated differently--whether large or small.
The top 20% of organizations are seeing crucial results in time efficiency and cost savings with AP automation. While best in class organizations are capturing 6.7 times more discounts than laggards, there is still room for growth in capturing discounts across the board.