According to a report published by the consulting firm Gartner in a study for the United Kingdom, the cost of processing an Accounts Payable invoice was, on average, €30 per invoice and, in some cases, could reach €80 per invoice.
It isn’t easy to obtain this data, and around one third of all companies are not able to determine the amount of this cost, according to a survey last year by Paystream Advisors.
Processing cost
The key to achieving such competitive costs as those achieved with solutions such as those offered by easyap lies in automation. The data shown in IOMA's AP 2012 Department Benchmarks and Analysis Report reflects that the cost of processing an invoice with procedures lacking automation tools can be 20 times higher than that of highly automated processes. These results are obviously leading many large companies to opt for optimization solutions that include this capability.
The benefits which are seen by introducing these solutions, are also arriving to SMEs, especially when the automation has low start up costs or a pay per use model. In fact, the smaller the company the higher the costs with traditional solutions, as the accounts payable process does not follow an efficient methodology, not even as a manual process.
What is the cost of processing an invoice in your company?
This value may vary depending on the resources being used in the Accounts Payable department.
This automation, and the low initial investment of pay-per-use solutions, can be complemented by the advantage of availability through an online platform in the cloud. Accounts payable is an area where companies can save the most money and resources, but there are still many companies that need to evolve in this regard.
Easyap is unique in Spain in offering a solution with a high- level of efficiency and savings that can be achieved in the accounts payable system. Contact us and we will show you what you can save and how simple the process can be.
