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Technology plays an essential role in nearly all business operations today, and accounts payable (AP) is no exception. Yet despite investing hundreds of thousands of dollars in enterprise resource planning (ERP) applications or process automation tools, AP departments still face a number of challenges that affect the efficiency and accuracy of invoice processing. Physical paper documents, manual data entry, invoice exceptions, data errors and discrepancies continue to delay the procure-to-pay cycle. To more closely examine what invoice processing looks like today, Hyland Software makes of OnBase recently published the 2018 State of Accounts Payable Report based on a survey of 200 AP professionals. The results reveal not just the main challenge AP departments face, but also what attributes – like process visibility and control – are most valued in AP operations.
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