The 2021 ‘State of Accounts Payable’ study found that 72% of businesses were only making payments through paper checks last year. In fact, 63% of finance professionals were forced to go to the office to complete manual tasks.
Invoice approvals, document management and late vendor payments surfaced as the main AP challenges. This directly impacted the work-life balance of accountants, forcing many to work an extra 10 hours per week.
Yet, findings from this study with 600 finance professionals are remarkable indicators of an emerging trend – digital adoption. 78% of respondents say AP automation is their top operational priority this year.
View webinar on-demand to find out:
- How 76% of finance professionals have increased productivity and reduced overtime
- How to eliminate late payments for good
- Solutions to improve approvals, payments and AP data access
- How to prevent vendor fraud and expense abuse that 60% of businesses experienced this year
Learn More About Beanworks
Discover how AP automation can free your accounting team from manual data entry, delays, and paper-based processes.