Accounts payable (AP) process automation is a complex challenge and one that has been stymied by entrenched habits and limited resources.
Indeed, a report published by Business Insider in August 2019 found that more than one third of the US companies surveyed were still issuing paper invoices, and almost half were relying on manual processes for approval.
Demand for electronic invoicing has been growing heavily
Sami Peltonen, Basware
However, by February this year, according to a report published by Ardent Partners, 60% of corporates were expected to have fully automated their AP processes by 2022.
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