Cover for the PYMNTS and Corcentric July/August 2023 Report “Solving Accounts Payables’ Top Frictions With Automation”

Solving Accounts Payables’ Top Frictions With Automation

AP Automation Significantly Reduces Friction in the Source-to-Pay Cycle

93% of CFOs say that the biggest benefit of leveraging AP automation is a reduction in the days of invoice tracking delays — allowing them to receive payments faster. PYMNTS latest study, “Solving Accounts Payables’ Top Frictions With Automation,” a collaboration with Corcentric, examines the frictions firms face in the payments process and how AP automation has changed the game and improved the source-to-pay cycle.

Inside the July/August Report

  • 25%: Portion of firms citing invoice errors and discrepancies as the top areas of disruption they recently faced
  • 83%: Share of CFOs reporting that digital technologies supporting AP workflow automations have reduced frictions by better integration of buyer and supplier payments
  • 64%: Portion of firms that added tailored AP software to their ERP systems to automate AP workflows in the last six months

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