Whether you're a Procurement, Accounts Payable, Treasury, or Shared Services professional--here are interesting statistics you need to know right now to help your department make informed decisions about P2P automation. This presentation is perfect for you if you're need to achieve cross-departmental buy-in on an existing project or if you're considering a procure-to-pay software solution initiative.

1. Did You Know?

2. Supplier Self Services
A typical AP department
can expect inquiries from
15-20%
of their invoice volume
The average invoice or
payment inquiry that an
AP department handles
takes
5-20 minutes
IOFM 2014
Approximately
60%
of those inquiries are from
invoices that are already paid

3. Supplier Self Services
Financial Operations Network 2014
Supplier portals can
eliminate up to
80%
of inbound inquiries

4. Supplier Information Mgmt.
60%
of a category manager’s
time is spent compiling
supplier data
At least
two-thirds
of financial audits will
comment on supplier
data accuracy
1 The Hackett Group, 2012
2 Gartner Research. 2007

5. Supplier Information Mgmt.
AMR Research. 2011
Companies that take a supplier information management
approach, leveraging self-service technology,
save an average of $430 per
supplier

6. ePayments
92%
of suppliers prefer to be
paid electronically
However,
approximately
67%
of all corporate
payments are still paid
by check
IOFM 2014

7. ePayments
Companies can save between
$2-$5
per payment by switching from paying by check to ACH
IOFM 2014

8. eInvoicing
The average cost to
process a paper invoice
is between
$8-$15
But, the average cost
to process an
electronic invoice is
between
$2-$5
Billentis. 2014

9. eInvoicing
Businesses can achieve between
60-80%
cost savings by adopting electronic invoicing compared
to traditional paper-based invoices
Billentis. 2014

10. Supplier Financing
49%
of surveyed suppliers
state a 1% discount
should accelerate
payment by
5-20 days
12%
of surveyed suppliers
want to be paid
immediately upon invoice
approval for every
customer – every time
17%
of surveyed suppliers want to be paid
upon invoice approval most of the time
Taulia Network Survey 2014