Spreadsheets may seem free, but aren't. Organizations pay in employee hours, inconvenience and late payments when invoices are tracked and paid on old-fashioned spreadsheets. The True Cost of Invoice Management details these costs, and shows a better way - automating Accounts Payable in the cloud. Manage invoices safely in the cloud: http://bit.ly/1DVN4Ro

1. Thetrue cost of
INVOICE MANAGEMENT
Managing cash flow with manual invoice processing is draining your business of time, money
and resources. The spreadsheet technology your business relies on to approve and track
invoices is older than the original Nintendo Entertainment System (NES). You wouldn’t rely
on such outdated means anywhere else in your business. Why here?
The average cost of manually processing a single invoice is roughly $13.50
but related hidden costs can really add up:
1. Top AP challenges with manual invoice management
2. True cost of invoice management
Lengthy processing times
High invoice processing costs
Lack of visibility into invoice and payment data
Inability to capture enough early payment discounts
Late supplier payments
43%
33%
31%
30%
20%
High operational costs General lack of visibilityErrors and delays
The cost to locate a lost
document can reach $120,
and the cost to replace
it, as much as $220.
Many other SMBs are experiencing the same issues with manual and paper-based
processes and are looking into AP management solutions that will allow them to
spend less time processing data and more time understanding it.
4. You’re not alone
There’s a better way!
Check out Concur’s True Cost of Invoice Management to see how moving
your invoice management processes to the cloud can save your business
tremendous amounts of time and money.
LOOK TO THE CLOUD
of SMBs have expressed
interest in automating
invoice processing
62%
— 2013 Ardent Partners, The State of AP in the SMB Market
— Ardent Partners, 2013 State of AP in the SMB Market
Causes your business to miss
out on early payment discounts
and lose efficiency. Many
vendors may deduct 1-2%
of the amount owed if the
invoice is paid early.
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Going paperless allows your business to take advantage of ePayments.
According to the ePayments Rising 2014 Market Report, electronic payment
processes can help enterprises:
Moving away from paper checks does bring challenges, but the best invoice
solutions address every major SMB concern about making this transition:
3. Going paperless
Improve overall visibility into spending
and ultimately cash flow
Enhance the speed of payments and depth
of information tied to those payments
Bridge the gap between procurement
and finance (and the CPO and CFO)
Assist the AP department in reallocating
resources into more value-added projects
Integration to
accounting systems
Convincing suppliers
to accept ePayments
Privacy/Security of
bank account information
Lack of standardized format
for remittance information
Shortage of IT resources
for implementation
Suppliers have begun to recognize the positives
that come with accepting ePayments: notably faster
payment receipts, improved visibility, and the ability
to more closely collaborate with their buyers
We’re no stranger to managing sensitive data.
Our clients include hospitals, financial services
institutions and the US government.
We are industry experts at spend management, and
presence to help with change management
We have partnerships with consultant groups that
can help with anything from implementation to
administration, to onboarding and training new hires
54%
51 %
37%
34%
26%
SMBs concerns with ePayments Concur solutions
— Ardent Partners, 2013 State of AP in the SMB Market
http://payablesplace.ardentpartners.com/2015/04/ap-predictions-for-2015-epayments-will-become-the-default/
Concur currently offers integration connectors
for the most popular accounting systems
Employees spend an estimated
20% of their time looking for
documents. So, in an office of
20 employees making $40,000
each, that means an annual
$160,000 committed
to digging around.