SOURCE: Aberdeen Group

Aberdeen Group

June 09, 2009 10:00 ET

E-Payables: Invoice Receipt and Workflow

New Study Details How Enterprises Can Cut Invoice-Processing Costs by Over 90%

BOSTON, MA--(Marketwire - June 9, 2009) - Aberdeen Group, a Harte-Hanks Company (NYSE: HHS), announced the release of its most recent e-payables research study, E-Payables: Invoice Receipt and Workflow. In modern economic times, enterprises are focused on cost containment and driving efficiencies within their accounts payable department. Invoice receipt and approval workflow, the initial phase of the A/P process, must be mastered by organizations in order to realize value from overall A/P efforts.

The research report, which examined the priorities, intentions, and performance of more than 130 enterprises, found that 75% of enterprises are currently using manual methods of invoice-processing, which inflates both processing costs and cycle times.

"The accounts payable professionals who master the first part of the process set the stage for superior performance throughout the entire invoice process," said Andrew Bartolini, vice president and group director, Aberdeen. "While it is true that 'cash is king,' overall value cannot be realized without an efficient invoice receipt and workflow process."

Christopher Dwyer, analyst and co-author of the study, added, "By automating the accounts payable process, enterprises have effectively reduced their invoice-processing costs by over 50% and increasing their overall visibility into invoice receipt and workflow processes."

Best-in-Class enterprises, noted for their ability to cut both invoice-processing costs and cycle times by over 90%, utilize a core set of A/P capabilities and technologies to achieve superior performance. Top-performing organizations are: 3.7-times more likely to use complete accounts payable automation, 2.4-times more likely to include standardized invoice receipt and workflow processes as part of their A / P function, and 46% more likely to hold enterprise-level visibility into A / P processes (including invoice receipt and approval workflow).

A complimentary copy of this report is made available due in part by the following underwriters: Basware, Concur, Kofax, and MetaViewer ePayables from Metafile. To obtain a complimentary copy of the report, visit: http://www.aberdeen.com/link/sponsor.asp?cid=5966.

For additional access to complimentary Global Supply Management Research, please visit http://research.aberdeen.com/index.php/-global-supply-management.

About Aberdeen Group, a Harte-Hanks Company

Aberdeen provides fact-based research and market intelligence that delivers demonstrable results. Having queried more than 30,000 companies in the past two years, Aberdeen is positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen™ for insights that drive decisions.

As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748.

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