Charlotte, NC, July 26, 2012 --(PR.com
)-- PayStream Advisors, Inc., a leading independent research and advisory firm today released the 2012 Automating Payables for the SME Market: A Big Bang for the Buck report, based on PayStream’s Electronic Payables survey results.
Until recently, AP automation initiatives were largely limited to Fortune 1000 companies, which had the human capital resources to implement and manage applications. Today, PayStream is seeing this trend trickle down to small and medium enterprises (SME) – those with annual revenue under $250 million.
SME are struggling with manual, paper-driven processes and are realizing that automation can alleviate most of the challenges they face in their day-to-day operations. The availability of affordable, easy-to-implement and use technology solutions is driving a renewed interest in AP automation for these smaller organizations.
Report findings include:
· Over a quarter of SMEs are currently evaluating some advanced automation tools.
· Electronic Payments and P-Cards have made strong inroads and are currently in use in over 60 percent of SMEs surveyed.
· While 4 out of 5 SMEs have electronic payment capabilities, only 12 percent pay at least half their bills electronically.
· Few SMEs are receiving significant volumes of invoices by electronic means.
· Eleven percent of SMEs are currently utilizing an eInvoicing solution and 39 percent are currently evaluating the usage of such a solution.
· Nearly 2 out of 5 SMEs reported budgetary considerations or lack of ROI as the top reason for not considering supplier portals or networks.
· SMEs rank fewer lost or missing invoices as the top benefit achieved as a result of eInvoicing.
Report findings are based on the survey results of PayStream’s 2012 Electronic Payments survey. Data was gathered from over 300 professionals from a variety of finance and accounting positions, within the SME market.
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