The #1 Barrier to Exceptional AP Performance.
One of the biggest challenges to running an exceptional accounts payable (AP) department is invoice exceptions themselves. As long as back offices are still relying on manual, time-consuming processes, handling invoice exceptions will keep AP teams distracted indefinitely. Market estimates vary across organization sizes and industries, but typically somewhere between 20% and 30% of invoices present exceptions. This leads to:
- Increased processing cycle time, effort and administrative overhead
- Resources tied up in resolution that could be focused on strategic activities
- Poor process visibility and no real-time view of cash flow
- Missed early payment discounts.