NewswireToday - /newswire/ -
Charlotte, NC, United States, 2007/12/05 - PayStream publishes report on the state of the Web Invoicing Industry, focused on forward-thinking business looking to automate their Accounts Payable and Accounts Receivable operations.
Who would have imagined that removing paper from the workplace would be more challenging than putting men on the moon? But that has been the unfortunate reality in corporate financial processes, which have long been mired in labor and paper-intensive process. Not anymore. Accounts payable departments, which came under renewed scrutiny for their heavy reliance on people and paper, are making great strides in automating their operations by leveraging a variety of technology solutions available in the market today.
Many innovative financial managers now recognize AP automation as an area offering significant potential for not only generating bottom-line improvements, like cost containment and productivity enhancement, but also delivering strategic benefits around greater ability to monitor and manage spend, capture existing and new discounts and build stronger trading relationships.
Sush Koka, Research Director at PayStream Advisors, stated that “although current adoption of automation remains skewed toward large corporations, we are very excited to see many mid-sized and smaller companies rapidly moving towards less paper, even paperless environments. These aggressive technology adopters have learned that in many cases automation diminishes the procure-to-pay cycle time from weeks to just days and delivers a rapid return on investment. Given these developments, we estimate that the number of B2B invoices traded within the United States in electronic format will surpass paper invoices by 2010.”
Keeping this interest in accounts payable solutions in mind, PayStream Advisors has developed the Technology Insight Series report titled "Web Invoicing & Electronic Payments: Strategic Impact of Accounts Payable Automation" for those organizations that have an active interest in electronic invoicing and payment management solutions but need help identifying appropriate strategies, vendors and solutions. In addition to providing a market overview and the benefits of automation, the report includes in-depth profiles of ten leading providers in this space. The result is a series of concise, identically structured vendor and solution profiles that corporate finance, treasury, and procurement professionals may use to support their automation initiatives.
The report features: Ariba - AvidXchange - Bottomline Technologies - Direct Commerce - iPayables - JPMorgan Xign - Nexus Systems - OB10 - Transcepta
PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology and innovative ideas to business leaders in healthcare, consumer billing, finance and treasury, accounts receivable and accounts payable. PayStream's research into electronic procurement automation options unveils an evolution in Internet technologies and growth in the value of the Web to conduct business.
Web Invoicing & Electronic Payments: Strategic Impact of Accounts Payable Automation is one of many reports in PayStream's corporate research library, including these other titles in their Technology Insight Series:
• AP Europe: Accounts Payable Automation for the European Market;
• Purchasing Card Management: The Lure of Plastic;
• Electronic Procurement: Automation Options for Your Purchasing Processes;
• Imaging and Workflow Automation: Migrating toward a Paperless Organization.