What are the Costs of Paper in Accounts Payable processing?
July 06, 2017
A study by AIIM (Association for Information and Image Management) highlights the actual cost of all that paper processing. They looked at 201 businesses with paper processing to analyze the total costs. Surprising? Now is the time to make the Business Case for your organization to automate Accounts Payable and start realizing the benefits of an efficient back office.
What do you think are the total costs (incl. staffing and other resources) to process the following documents as PAPER from start/creation to end/archiving?
|More than $10||More than $20||More than $60||Median||Mean|
|Invoice in Accounts Payable||78%||65%||21%||$21-$30||$31-$40|
|Invoice in Accounts Receivable||79%||61%||22%||$21-$30||$21-$30|
|PO in Procurement & Purchasing||82%||66%||22%||$31-$40||$31-$40|
|Contract in Vendor Management||84%||71%||24%||$31-$40||$31-$40|
Source: AIIM, N = 201
Do you want best in class Accounts Payable processing?
As a best in class provider, Miria’s Active Finance solutions deliver on a cost for INVOICE in Accounts Payable of less than $2.00 per invoice processed. Miria’s document solutions do not stop there; they can bring significant savings across your back office financial processes. Implementing a content services solution will save you money, and bring fundamental change to your financial back office operations.
Automation brings transparency to your cash flow, intelligent reporting, streamlining the integration to your intercompany accounting framework, which all adds up to financial control of your back office. Once achieved, your operation becomes a strategic financial tool to support the business with its capital needs. After all….it is your cash, manage it with Miria automation.