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Cloud-based Solutions Prove Pivotal for Electronic Invoicing Adoption
The shift from paper invoices to electronic invoicing (eInvoicing) in accounts payable is accelerating with help from affordable and flexible web-based solutions, according to research firm PayStream Advisors.
"Affordable web-based solutions (Software-as-
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.
Page Updated Last on: Dec 01, 2011