The Dirty Little Secret of Accounts Payable Is...

• Tags:
• losses,
• invoice,
• fraud,
• finance

Overview The "Dirty Little Secret" of Accounts Payable is ... it costs a lot to pay a bill. According to a Hackett Benchmark Study, world-class invoice processing is over $10 less per invoice compared to companies not following best practices - such as eliminating paper-based processes. At 10,000 invoices per month, that eye-popping gap compounds to wasteful losses of over $1.2 million per year! Enlightened finance executives also understand that paper-pushing processes significantly weaken the AP controls environment that can add millions more in losses due to errors & fraud.

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