by Chelsea Bawab - March 30, 2015
Unlocking Accounts Payable Automation with Table Extraction
If you work in accounts payable (AP), you understand the struggle to process the endless influx of invoices, enter the data into your company’s record-keeping system, and somehow try to stay on top of your schedule. Unfortunately, invoice processing is an area where many businesses fall behind and oftentimes incur significant expenses.
According to a study by Aberdeen Group, the top driving factors for accounts payable improvements are corporate directives to lower costs and an organization’s lack of visibility into AP documents. Out of the organizations participating in the study, those considered “best in class” for AP maturity excelled in a specific area that set them apart from the average and below average organizations—the majority of best in class organizations cited their top strategy for AP improvement as investing in “automation of invoice receipt and workflow processes.”