SOURCE: Aberdeen Group

Aberdeen Group

August 11, 2009 10:00 ET

E-Payables: Electronic Payments

New Study Details How Enterprises Can Slash Payment-Processing Costs and Time

BOSTON, MA--(Marketwire - August 11, 2009) - With current economic conditions forcing enterprises to focus on cost containment, top-performing organizations are driving efficiencies within the final phase of the accounts payable process to unveil a wealth of cost and time benefits, according to a new research study published by Aberdeen Group, a Harte-Hanks Company (NYSE: HHS).

The E-Payables: Electronic Payments research report, which examined the strategies, intentions, and performance of over 140 enterprises, found that nearly 70% of enterprises place a critical / high-priority level on improving overall payment processes and procedures, a figure that reinforces the notion that overall financial success within the enterprise rests on the operational shoulders of the accounts payable department.

"Top-performing enterprises realize the value in automating the final phase of the A/P process," said Christopher Dwyer, research analyst and author of the study, Aberdeen. "By leveraging electronic payment methods, such as ACH, commercial cards and wire transfer, they have significantly cut payment-processing costs in addition to reducing the risk of payment fraud."

In addition to driving payment-processing costs that are nearly 14.6-times lower than all other organizations, leading enterprises utilized a core set of A/P capabilities and technologies to achieve superior performance. These organizations are:

--  53% more likely to have electronic payments requirements established
    as a standard means of conducting business with key suppliers
--  43% more likely to integrate payment solutions with existing A/P
    systems
--  42% more likely to have standardized payment processes
    


A complimentary copy of this report is made available due in part by the following underwriters: SunGard, SunTrust, and Visa. To obtain a complimentary copy of the report, visit: http://www.aberdeen.com/link/sponsor.asp?cid=5984.

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) 854-5200, or to learn more about Harte-Hanks, call (800) 456-9748.

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