PayStream Advisors and Purchasing Insight launched a global eInvoicing survey to AP, finance and treasury professionals in a wide range of industries. Over 200 responses were analyzed for the creation of the Global eInvoice report.
Some of the key findings of the report include:
- 60% of respondents report that over 90% of invoices received are paper
- 56% of respondents report that integration with suppliers is the top eInvoicing challenge
- 44% of respondents report that internal organizational barriers are an eInvoicing challenge
- 36% of respondents report that offering suppliers easy to use tools is an eInvoicing challenge
One particularly interesting (and unexpected) insight that the research revealed was that of those whom expressed a desire to move towards eInvoincing, cash management was their main driver. So while eInvoicing brings benefits, the real cost-savings are coming from Cash Management and the automated capture of early payment discounts.