PayStream Advisors recently published their Invoice and Workflow Automation Benchmark Report. It is the 11th edition and contains some very interesting data and survey results. The survey spanned over 22 industries and involved over 200 AP professionals – from managers to CFOs.
Here are a few highlights:
- 35% of companies have made investments in AP automation technology
- Paper invoices still remain the number one challenge in the invoice management process
- Faster invoice approval and lower processing costs rank as top benefits
- Adoption of approval workflow solutions continues to rise to 37%
That’s just the beginning! Tradeshift Collaborative Workflow is profiled in the report. Having just announced our new workflow solution last month, we’re thrilled to have it included in this years edition. Tradeshift Collaborative Workflow automates the mundane and empowers employees to work smart and problem solve. If you’re considering workflow automation technology, you don’t want to miss this report.