Payables Friction

Payables Friction

PYMNTS’ research demonstrates that most AP professionals know invoice innovations can improve their businesses and want to adopt them. But some AP departments are satisfied with the status quo. The Payables Friction Playbook is based on our survey of executives at nearly 2,600 firms offering solutions related to key AP stages: invoice receipt, approval and payment.

A Corcentric collaboration

Inside the September study:

  • 73.7 percent: Portion of firms processing more than 20,000 invoices per month that plan to implement invoice receipt innovations
  • 11.6 days: Average time it takes firms processing more than 20,000 invoices per month to process a single invoice
  • 34.7 percent: Share of firms that require their CEOs’ approval to pay invoices

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    Payables Friction Playbook