Once again, we have reached the end of a busy year, and the holidays are upon us. However, for those who work in or with Accounts Payable organizations, we know the the end of year poses many challenges.....most of them revolve around processing the mountains of paper invoices that arrive in 4th quarter.
In PayStream Advisors Q3 Technology Insight report, finds that even now in 2010, that 60% of Accounts Payable organizations still receive the majority of their invoices in paper format. And as we know in Accounts Payable we transform ourselves into invoice elves and try to locate invoices from the desks of our colleagues and process and post those invoices before the bell tolls for the new year. For the six years I worked in Accounts Payable, New year's eve was not a time to celebrate but a time to finally get some sleep, now that the invoice processing was complete.
The good news is, based on PayStream Advisors Q3 Technology Insight report, 40% of organizations have an electronic invoicing plan in 2010. So, let's get the AP elves processing those paper invoices for this this year, and realize the dream of having enough time and funding to emerge into the world of eCommerce and reduce the paper invoice mountain in 2011!
So, does your AP organization have an eInvoicing plan for 2011? Or are more paper invoices in your future?