Still Significant Opportunities to Gain Efficiency

The most important components of the accounts payable process for gaining efficiency through automation:

2022

49% - Converting paper check payments to electronic (ACH, card)

40% - Invoice processing

39% - Reconciliation

36% - Invoice approval

2020

53% - Converting paper check payments to electronic (ACH, card)

46% - Invoice processing

40% - Reconciliation

39% - Payment approval

Automation Sought to Reduce Manual Tasks

These three areas were identified as the top opportunities for reducing manual work through automation:

19%

Cash Flow Forecasting

19%

Invoice Processing

20%

Reconciliation

Fraud an Area
of Concern for All

1 in 3 large and small organizations indicate they intend to invest significantly in fraud detection/prevention in the next 12 months.

Fraud Losses More Notable for North American and Larger Firms

14% of North American firms experienced at least one loss on B2B payments due to fraud in the past year vs. 8% of European firms.

Desire for Embedded Banking Has Grown the Last Year

Banks indicated a 10-point growth in their customers asking for an embedded experience in ERP in the last year.

Top AP Challenges: 2022 B2B Payments Survey Results

Discover the tools and technologies industry experts are utilizing to increase efficiency through eliminating wasted time, overcoming constant AP hurdles such as cash visibility, and mitigating the ever-expanding fraud risks.

Top AP Challenges: 2022 B2B Payments Survey Results

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