2018 State of Accounts Payable Report
A Look at Current Accounts Payable Operations, Challenges, Visibility and Control
Technology touches nearly every aspect of business operations today, and Accounts Payable (AP) is no exception. Organizations invest hundreds of thousands of dollars in enterprise tools, like enterprise resource planning (ERP) applications or process automation, to improve the efficiency and accuracy of their operations. Yet even with these advancements, AP departments are often still bogged down by cumbersome paper documents, manual work, and errors and exceptions that delay the procure-to-pay cycle.
Partnering with Statista, Hyland surveyed 200 AP professionals from organizations across the United States to examine what invoice management and processing looks like today. The following results reveal how well AP organizations currently operate, their primary challenges, and why attributes like visibility and control are most valued in invoice processing.