Companies are still using paper processes to handle most of their invoices and payments, according to a new study conducted by industry association IAPP-TAWPI, and released today by
. The study,
e-Invoicing from a Buyer Perspective 2010
, revealed that while 80% of the AP departments surveyed recognize the importance of
to their organizations, there are many obstacles to achieving greater adoption.
companies’ reasons for engaging in e-invoicing include improved processes, increased accuracy and lower costs. Those that implemented e-invoicing most frequently cited faster transactions, improved processes, greater accuracy, and improved compliance and audits as key benefits they have achieved.
According to the survey, one key obstacle to e-invoice adoption is the lukewarm response from suppliers. Only 13% of AP departments said that suppliers reacted very favorably to e-invoicing. However, nearly 50% of the respondents believe that updating supplier contracts to require e-invoicing was the most effective way to increase the number of e-invoices, followed by communicating to suppliers that paper invoices were no longer acceptable.
To download a copy of the report,
. To view the complete press release, visit
International Accounts Payable Professionals (IAPP) is internationally recognized as the trustworthy guidance-setting association for the accounts payable profession. Serving members throughout the world, IAPP is the AP professional’s global voice, chief advocate, recognized authority, acknowledged leader, and principal educator on all AP operational, regulatory, leadership, tax, control, and fraud-related topics. For additional information, visit
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