Purchase-to-pay (P2P) organizations spend a significant amount of time setting up suppliers, fielding basic status inquiries, and completing other routines, non-value added tasks. While most consumer-facing industries have transitioned to a more self-service model for customer-supplier interactions, the business world has resisted for reasons that are mostly unfounded. Concerns around online security, the cost of legacy system upgrades, global requirements and ultimately making a business case to invest in supplier self-service solutions has stifled adoption. However, our research shows that better utilization of the self-service functionality embedded in supplier facing systems is worth the effort – it can free up resources, lead to better data quality and improve supplier satisfaction. Case in point: highly automated AP organizations have 39% lower costs per invoice ($4.95 versus $8.12) than non- automated organizations.
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