Nanonets

AUGUST 21, 2023

B2B payment automation involves everything from the automation of capturing and processing invoices to making payments to vendors and reconciling those payments in your books. What if you could reduce these costs by 80% and increase the speed of processing invoices by up to 10 times?

Invoice Processing 52

Invoice Processing Reconciling Invoicing Data Entry 52

AvidXchange

JULY 21, 2021

You definitely want to track this because it’s highly indicative of the efficiency of your AP process. Here’s the rub: The average cost per invoice can vary depending on costs included, or not, in the calculation. Other variables include the industry, number of invoices processed and whether AP automation or AP manual processes.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52

AvidXchange

JUNE 10, 2024

The Paris 2024 Olympics will be the first since 2018 without major impacts from the pandemic, suggesting audiences may see major changes compared to previous Games. By automating invoice processing and payments, agencies can reduce labor-intensive tasks such as manual data entry, check printing, PO matching , and assigning spend to accounts.

Data Entry 52

Data Entry Budgeting Deposits Invoice Processing 52

Invoicera

APRIL 10, 2024

China: Expanded its pilot program for e-invoicing nationwide from December 2023, requiring selected taxpayers to issue digitalized e-invoices (e-fapiao). Businesses not following invoicing rules can lead to legal trouble and tax issues, which could harm your reputation with clients.

Invoicing 52

Invoicing Tax Record Keeping Invoice Processing 52

AvidXchange

FEBRUARY 27, 2019

For these reasons, many companies are attempting to streamline their finance and accounting operations by adopting and integrating automated accounts payable tools and by restructuring their internal processes for a 21st-century business environment. Among those that were hit by fraud, 92% said the attacks collectively cost at least 0.5%

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Nanonets

FEBRUARY 26, 2024

Lost Productivity:  The average invoice processing time in a manual environment can reach as high as 45 days. 💡 According to a  2018 Goldman Sachs report , North American B2B businesses spend around $187 billion annually on AP processing, with labor alone accounting for over 90% of direct costs.

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

AUGUST 17, 2023

In the 2021  World Class AP Performance: Efficiency Benchmarking Metrics report,  IOFM found that companies without Accounts Payable automation paid the highest average cost per invoice of $1.83 per invoice for the highest process maturity level. per invoice. 

Accounts Payable 52

Accounts Payable Accounts Payable AP Purchase Order 52