Tuesday 25th June, 2013

Despite some major advances in AP processing, particularly over the last three to four years, a recent report conducted by Accounts Payable News, has found that the top operational difficulty within accounts payable remains keeping track of invoices and maintaining an appropriate level of visibility. A further 24% highlighted that maintaining their master supplier file remained a key challenge.

Respondents highlighted a number of ways in which they were directly affected by some of these difficulites, including dealing with some of the risks associated with having large unused suppliers on the master supplier file and an overall lack of efficiency, with a correspondingly low level of staff morale. However, others indicated that a direct result of these highly measurable difficulties had been to add pressure and weight to the business case for new technologies to overcome them.

On the whole, greater collaboration across the different areas of P2P was found to minimise and build walls around areas of risk (such as fraud) and error.

The report takes a close look at invoice processing and the rise of automation.

Download the 2013 report