Did You Know?

Supplier Self Services

A typical AP department can expect inquiries from

15-20% of their invoice volume

The average invoice or payment inquiry that an AP department handles

takes

5-20 minutes

IOFM 2014

Approximately

60% of those inquiries are from

invoices that are already paid

Supplier Self Services

Financial Operations Network 2014

Supplier portals can eliminate up to

80% of inbound inquiries

Supplier Information Mgmt.

60% of a category manager’s time is spent compiling

supplier data

At least two-thirds

of financial audits will comment on supplier

data accuracy

1 The Hackett Group, 2012 2 Gartner Research. 2007

Supplier Information Mgmt.

AMR Research. 2011

Companies that take a supplier information management approach, leveraging self-service technology,

save an average of $430 per supplier

ePayments

92% of suppliers prefer to be

paid electronically

However, approximately

67% of all corporate

payments are still paid by check

IOFM 2014

ePayments

Companies can save between

$2-$5 per payment by switching from paying by check to ACH

IOFM 2014

eInvoicing

The average cost to process a paper invoice

is between $8-$15

But, the average cost to process an

electronic invoice is between $2-$5

Billentis. 2014

eInvoicing

Businesses can achieve between

60-80% cost savings by adopting electronic invoicing compared

to traditional paper-based invoices

Billentis. 2014

Supplier Financing

49% of surveyed suppliers state a 1% discount should accelerate

payment by 5-20 days

12% of surveyed suppliers

want to be paid immediately upon invoice

approval for every customer – every time

17% of surveyed suppliers want to be paid

upon invoice approval most of the time

Taulia Network Survey 2014