Two-thirds of Enterprises Seen Lacking Visibility into Spending

Ineffective invoice reconciliation and payment systems hampering effective spend management, Aberdeen says

  • Determine which manual steps cause the biggest delays and cost the most money.

  • Automate labor-intensive invoice processing by adopting optical character recognition (OCR) scanning and increasing the use of HTML and electronic transactions.

  • Identify top obstacles to capturing cash discounts and an alert system of escalations.

  • Review your IR&P technology and compare the costs of integrating multiple systems with evaluations of newer integrated approaches.

  • Create benchmarks to measure improvements for the costs of processing bills, time to process an invoice, audit findings, and volume of transactions.

Additional Articles of Interest

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