According to a survey conducted by Accounts Payable News and sponsored by Finnish e-procurement and e-invoicing software company Basware, collaboration levels were also enabled by an increase in the application of automation solutions and technology, with 43 percent now using e-invoicing, a 6 percent rise over 2012. Despite this, those operating in an almost entirely automated environment remain in the minority, with fewer than 11 percent of organisations doing so.
However, with organisations still being challenged to achieve more, frequently with reduced resources, almost 60 percent identified cost reduction as the major challenge for 2013 – up 2 percent on 2012.
Finally, the study has found that with 34 percent of organisations stating that keeping track of invoices is their biggest operational issue and only 35 percent measuring both auto match and exception rates – being able to reduce costs remains a strong challenge. A situation not helped by only one in every 30 invoices resulting in early settlement discount capture.
For more information about Basware, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
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