The Real Cost of Paper
How much does your paper-based workflow really cost?
Did you know that 25% of organizations state that manual routing of invoices for approval is the NUMBER ONE challenge they face in their accounts payable department? A staggering 18% of businesses report that the majority of their invoices are received in paper format, followed by 9% that report lost or missing invoices are their number one accounts payable challenge.
Chances are, if your company still conforms to the archaic ways of manual AP processes, you’ve probably been frustrated by the lack of visibility between departments and the difficulty to obtain information from others due to communication delays.
With manual processes, the average processing time form invoice receipt to approval is 30-45 days. With KwikTag, it’s 5 days.
The average processing cost PER INVOICE for manual processes is $15.00. With KwikTag, its $2.36 per invoice.
Check out the infographic below for more shocking statistics on how much paper is costing you.
You may think that you can’t afford to move forward with AP automation and content management, but the truth is, you can’t afford NOT to do it.
Watch the presentation “You Can Make More & Do Less: A Digital Transformation Experience” to hear how a multi-entity company transformed from 100% manual AP processes, to being practically paperless, all while maintaining a 400% growth rate.
Visit www.kwiktag.com today to request a demo and start your digital transformation.