Routable - Accounts Payable Automation: Why Gig Companies See Payables Innovation As Key To Success - October 2022 - Learn how automation of accounts payable platforms can help gig economy companies manage their projected growth

Accounts Payable Automation: Why Gig Economy Companies See Payables As Key To Success

Gig Economy Platforms Say Legacy Payments Tech Stalls Future Growth

Nearly 9 in 10 gig economy platforms expect their payables volumes to spike, but legacy payables tech could stall their growth. For “Accounts Payable Automation: Why Gig Economy Companies See Payables Innovation As Key To Success,” a collaboration with Routable, PYMNTS surveyed 204 executives from gig platforms to examine their plans to use automation to scale payouts at scale, globally.

Inside the October Report

  • 78%: Portion of gig economy companies that identify inefficient communications with vendors as a key challenge and say it is highly important to automate their AP systems to increase their processing capacity
  • 83%: Share of gig economy businesses unable to make payments in vendor-preferred currencies that say automating AP systems is highly important for their business model
  • 56%: Portion of companies having issues onboarding new vendors that say it is just slightly or somewhat important to have automated AP platforms to increase the volume of payables they process

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    Accounts Payable Automation