Today In Data

Accounts Payable Automation And Innovation Friction

Accounts Payable Automation And Innovation

Innovation for accounts payable is often an afterthought, but automated solutions can efficiently onboard customers, cut back on errors and eliminate paper-based invoicing systems. In technology, Visa has been investing in artificial intelligence (AI) as well as data, and Apple beat analysts’ estimates for the second quarter. And, in retail, apart-hotel startup Locale raised funds in a seed round as it looks to create a boutique experience for travelers in apartment buildings. All this, Today in Data.



$500 million: Approximate amount Visa has spent through the past five years on data and AI efforts.

71.1 percent: Share of firms with “very” or “extremely” efficient AP processes that were interested in innovation.

$58.02 billion: Revenue Apple reported in its March quarter earnings report.

51.3 percent: Share of firms in a survey that expressed satisfaction with paper checks as a payment method.

$2.5 million: Amount that apart-hotel startup Locale recently raised in a funding round.