Brainware and the Institute of Financial Operations issue 2012 Process Quality Study on AP Automation
Brainware and The Institute of Financial Operations have announced the publication of the 2012 Process Quality Study on AP Automation. The report, based on a global survey of accounts payable professionals from a range of industries, business sizes and regions, presents a broad view of the current state of automation technologies and their impact on accounts payable.
A number of approaches to automation were taken into account, including OCR-based capture applications, approval workflow, EDI, purchasing cards and dynamic discounting.
“Document imaging is becoming a major part of accounts payable operations, and of all the available options, intelligent capture has the largest impact on all aspects of the process,” said Brian G. Rosenberg, Chief Executive Officer at RPI Consultants. “Organisations using intelligent capture overwhelmingly reported that they are less absorbed in manual tasks.”
Charles Kaplan, Vice President of Marketing at Brainware, also noted that while there are a number of automation solutions available, the report shows that intelligent data capture offers a complete solution for processing all invoices.
The report also suggests that financial managers see greater benefits, in terms of creating efficiency and process transparency, when implementing automation and best practices internally, rather than outsourcing to a third party.