OnBase & The Institute of Financial Operations (IFO) AP Automation Survey
The accounts payable profession is becoming more aware of automation options and what they can mean for cash management, according to results of this annual study by The Institute of Financial Operations.
Although respondents to the survey conducted in mid-2014 show AP departments are still heavily reliant on paper, they are watching a steady stream of developments in existing and emerging technologies.
This year's survey of industry professionals delved deeper to get answers to key questions such as:
- How automated are AP departments?
- Which technologies are seeing the highest adoption rates?
- What are the costs to process paper versus electronic invoices?
The survey also looked ahead, querying participants about their companies' top technology priorities for the coming year as well as the obstacles they anticipate facing.