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Follow on Google News | Survey Results Outline the Top Frustrations with Accounts PayableA Recent Industry Study of Accounts Payable Management Reveals that Manual Paper Processing is Among the Most Frustrating Aspects of AP.
By: iPayables According to the results, the top frustration among accounts payable workers was the long and tedious invoice approval and payment process (21%). Other frustrations prevalently mentioned were manual paper processing (19%), followed by vendor issues, inquiries or complaints (14%), lack of workflow rules, deadlines and enforcement (10%), lost or missing invoices / payments (7%), inadequate AP staff / staff overworked (7%), other issues (7%), purchase order problems (6%), invoice errors (6%), and no transparency / lack of communication (3%). "I hate it when invoices do not make it to AP for payment, then getting blamed when vendors get angry for non-payment," The fact that efficiency, visibility and control issues represented 74% of frustration responses, leaves little surprise that 58% of suggested solutions were directly related to Automation/e- Many of the resolutions proposed by the those who took the survey were technology based including: Accounts Payable Automation (19%), Electronic Invoicing (10%), a general upgrade in technology (9%), an AP Workflow system (4%), or the use of a vendor portal (4%). Of the non-technology related answers, having more organizational structure and discipline registered the highest with 18 percent of the survey responses. The results of the study can be found in a white paper and can be accessed by clicking here. (http://pages.ipayables.com/ ***** About iPayables iPayables is the leading provider of Accounts Payable Automation and Electronic Invoicing. By using our advanced internet invoicing system (InvoiceWorks®) The world's largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® End
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