Kofax

2011 AP Automation Study (IAPP)

International Accounts Payables Professionals (IAPP), International Accounts Receivable Professionals (IARP), National Association of Payables & Purchasing (NAPP), and The Association for Work Process Improvement (TAWPI) - now known collectively as Institute of Financial Organizations (IFO) - conducted qualitative and quantitative research among AP professionals to gain insights into trends in automated data capture in invoice processing. This report details the survey findings such as: • More than three-quarters (76.1 percent) of respondents indicated that the majority of their invoices are paper-based. • A plurality of respondents (43 percent) indicated that their organization’s cost to process an invoice hasn’t changed over the past 18 months. Paper still represents a high percentage of the work that AP professionals handle each day, and too many organizations process this work without the benefit of technology such as automated data capture or workflow. But there’s good news too…