Report provides benchmark data and analysis of critical IWA trends facing the AP industry today.
Imaging technology has paper on the run. Yes, paper is still prevalent, but according to PayStream’s latest IWA survey data, 64 percent of supplier invoices are traded on paper, down from 77 percent as recently as 2010. This percentage has been dropping at a rate of 5 percentage points each year for the past couple of years.
While the transition from paper to electronic invoices is slow, progress is being made. AP practitioners report that 80 percent of their suppliers are now submitting at least some invoices electronically. This trend is likely to accelerate in today’s tight economy, as the cost and complexity of electronic collections decreases and suppliers become motivated to free cash that would otherwise be trapped in the paper payment cycle.
Download a free copy of the IWA report today to learn valuable information regarding the ever-changing IWA landscape. Find the latest adoption statistics, current thinking, best practices, strategies and key performance indicators for evaluating and selecting the solution that meets your company’s needs.