Given the need for Accounts Payable (AP) teams to manually input data from paper invoices, the task of scanning diverse bills becomes arduous and prone to errors. Therefore, problems like slow approvals, excessive paper use, and numerous manual processes now top the list of AP concerns.
These persistent accounts payable challenges don’t seem to be going away any time soon. Recent statistics tell a harsh truth – almost 40% of businesses are still grappling with paper invoices. In a world where time is of the essence, the burden of slow approvals, manual tasks, and paper overload weighs heavily on AP teams. And there’s more to come – a whopping 80% of AP representatives are bracing for a surge of invoices, with 53% anticipating increased complexity.
The need for change could not be any more urgent, especially in a fast-paced business landscape where time translates directly into monetary value.
Against this backdrop, this blog delves into the potential of data capture in AP Automation, shedding light on the integral role played by Optical Character Recognition (OCR) in streamlining invoice scanning and indexing processes.
Read more at https://pathquest.com/knowledge-center/blogs/error-free-invoice-scanning-with-ap-automation/
