Accounts Payable (AP) departments have thousands of invoices that need to be processed every month.
In order to avoid unauthorized spending, invoice fraud, and duplicate or fraudulent payments to vendors, they have to manually comb through purchase orders, invoices, and receipts to match them.
This time and resource-draining invoice matching process is highly essential for accounts payable operations to run smoothly. Invoice matching ensures that payments are released after invoices are verified against supporting documents.
How has IDP worked out for early adopters in accounts payable departments
New research reveals how Artificial Intelligence and Machine Learning-powered Intelligent Document Processing (IDP) can significantly impact how organizations manage accounts payable workflows.
In this new report from Infrrd and Apps Run the World, a leading technology market research firm, you will learn from the experience of over 400 companies in the United States who have implemented IDP. This research covers many organizations that process over one million invoices per year and examines their growing adoption of IDP to capture and extract invoice data efficiently to achieve touchless AP automation.
The new research report contains valuable insights and concrete examples of how IDP impacted the surveyed companies' AP transformation journey.
We have consolidated the report in this detailed infographic that showcases the key findings of how IDP impacted companies in:
- Eliminating manual procedures
- Reducing processing time
- Better invoice validation, verification, and authorization
- Lower invoice processing costs
Fill out the form to the right to download the infographic.
