Technical solutions
06/12/2007 17:23
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There is "significant potential" in using AP automation and electronic invoicing, according to a new report.
In a publication on the state of the web invoicing industry, Paystream Advisors suggests that a number of financial managers are now seeing this process as a way of producing bottom-line improvements and enhancing productivity.
Accounts payable departments are "making great strides" regarding the automation of their operations, the research indicates.
Sush Koka, research director at PayStream Advisors, said: "[Although] current adoption of automation remains skewed toward large corporations, we are very excited to see many mid-sized and smaller companies rapidly moving towards less paper, even paperless environments."
There will be more electronically-traded B2B invoices than paper invoices in the US by 2010, she added.
Procurement and accounts payable are two of Paystream Advisors' focus areas.
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