Manual processing and paper invoices have long been the bane of Accounts Payable’s existence. This latest report from Ardent Partners, based on research from AP teams’ peers, highlights again that some of these every day, tactical challenges such as invoice approvals, exceptions, and late payments still continue to create roadblocks. And the fact that research revealed 66% of all businesses view AP as either “very” or “exceptionally” valuable puts all the more pressure on AP to become best-in-class and deliver top-level value to their organization.
In this 2023 Accounts Payable Metrics that Matter report from Ardent Partners, we’ve identified what best-in-class AP organizations are doing to move away from the tactical challenges and their peers. We’ll visit some of the key statistics and key points that were uncovered from this latest research including:
- The vital importance of AP metrics in the current landscape of payables
- The benefits of AP Automation and its ability to provide straight-through, touchless processing
- The advantage of enabling your suppliers to submit e-invoices
- And finally, why NOW is the ideal time to invest in invoice automation technology.