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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
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