According to US enterprise content management (ECM) specialist Hyland Software, 2007 will be the turning point for greater investment in accounts payable automation. John Stokdyk reports.
Research from a PayStream Advisors survey found that more than a third (34.5%) of European accounts payable employees said the discrepancy resolution process caused them the greatest amount of pain. Many recognised that automating the invoice receipt-to-pay cycle would save time, money and administrative anguish.
PayStream also estimated that worldwide spending on automated invoice processing would grow by more than 10% a year to exceed $3 billion by 2009.
These internal imperatives are being heightened by regulatory compliance issues, explained Hyland's European solution strategist Darren Boynton. "A...