Reducing operating and processing costs drive electronic invoice adoption - report

According to the Invoice Receipt Management Report 2015, written by PayStream Advisors, 54% of respondents want to automate invoicing procedures to reduce labor and processing costs, allowing AP professionals to focus on higher-value activities, improved cash management, fraud reduction, enhanced payments security and improved B2B payments analytics.

In spite of benefits of electronic B2B invoicing, this research shows that organizations are still mired in paper, fax and emailed invoices with e-invoicing not yet widely used by the supplier community. The report cites integration with in-house and supplier systems as the single greatest barrier to adoption. However, the advantages of ease of use and installation, and integration with supplier ERP systems of cloud-based e-invoicing and invoice receipt solutions should lower barriers to entry.

Founded in 1998, Corcentric is a provider of financial process automation, specializing in accounts payable automation, PO requisitioning and imaging and workflow solutions. By creating a paperless conduit between procurement, accounts payable, accounts receivable and suppliers, Corcentric allows companies to manage their invoices electronically.