Accounts payable automation to hit tipping point in 2007

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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...

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