Top five challenges

Managing and updating vendor bank account details

2 Timely approval of invoices and payments

3 Difficulty capturing early payment discounts due to slow approvals

4 Missing vendor information

5 Manual workflows and excessive delays caused by legacy payment processes

60% of finance leaders say Accounts Payable is the #1 most inefficient component of their manufacturing company’s operations

How manufacturing companies are transforming AP

Process automation


of manufacturing CFOs report that optimizing AP processes is their top focus for digitization efforts


of manufacturing organizations plan to invest in AP automation technology over the next year

Digital payments


of manufacturing organizations plan to increase their use of ACH payments over the next year


of manufacturers state that converting from checks to ACH and virtual card payments is their top priority when automating AP


of manufacturing organizations plan to increase their use of virtual card payments over the next year

Top benefits of digital transformation in 
manufacturing AP

Time savings

60% of manufacturers say that time savings and improved productivity are the top drivers of AP process automation at their organizations

Data visibility

55% of finance executives cite improved AP visibility as a top priority and key benefit of automating accounts payable

Fraud Detection

64% of manufacturing organizations have experienced a payment fraud attempt within the past year, with 14% having suffered more than one loss​​​

Over $275  billion in ACH and virtual card payments are made using Paymode-X every year, all with zero fraud

Vendor Relationships

58% of Bottomline customers report improved vendor relationships
as a result of using Paymode-X

Cost Savings

Saving up to $4 per check by converting to digital payments and automating processes

Late fee elimination

Only 48% of payments are made on-time without automation​​​​​​​

But 90% of payments are made on-time even with a modest level of AP automation​​​​​​​


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