Cloud-based Solutions Prove Pivotal for Electronic Invoicing Adoption

Dec. 1, 2011 - PRLog -- The shift from paper invoices to electronic invoicing (eInvoicing) in accounts payable is accelerating with help from affordable and flexible web-based solutions that are placing control in the hands of small and mid-sized companies, according to research firm PayStream Advisors.

Visit http://www.paystreamadvisors.com/store/details.cfm?id=343 to download a free copy of the report titled "Electronic Invoice Management: The Cloud's Silver Lining."

"Affordable web-based solutions (Software-as-a-Service), aggressive supplier recruitment, enhanced reporting, and emerging cash management capabilities are breaking down adoption barriers and accelerating the migration from paper to electronic invoices," said Henry Ijams, Managing Director of PayStream Advisors.

Most invoices are still presented on paper, but a majority of those paper invoices are now being converted to electronic form to facilitate workflow and collaboration before they are paid. More than 80 percent of the companies surveyed by PayStream Advisors over the past year indicated that they have already adopted an imaging solution, or are at least considering purchasing one.

Perhaps more importantly for the viability of eInvoicing: suppliers as well as buyers are embracing the trend - drawn by enhanced analytics, potential business referrals, dynamic discounting, and the prospect of faster payment. In fact, more than two-thirds of AP professionals in PayStream Advisors' eInvoicing adoption survey said they have either implemented or are considering an eInvoicing solution, and the percentage of holdouts is falling fast.

The 36-page report provides organizations with recent trends and solutions in electronic invoicing, covering topics such as: current challenges in  AP operations, key barriers to adoption, the components of electronic invoicing, and tips for selecting a vendor.

The report also includes detailed profiles of six leading providers of electronic invoicing solutions.

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PayStream Advisors is a leading independent research and advisory firm dedicated to helping companies automate purchasing, payables, and financial processes.

Visit www.paystreamadvisors.com for more complimentary research.