Accounts Payable Automation
Maximize efficiency, visibility and security by automating the entire invoice-to-pay process with Paymode-X.
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:
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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