Global Payments (NYSE: GPN) has released its 9th annual State of AP Report, which highlights significant benefits from accounts payable (AP) and payment automation solutions. The report, which includes responses from buyers and vendors, found that less than 20% of businesses have achieved full AP automation, while most are satisfied with their automation efforts. While these companies are seeing real benefits in the form of faster invoice processing and payment cycle time, increased team productivity and reduced costs. The use of Artificial Intelligence (AI) in accounts payable remains more talk than walk, but only 20% currently use it or plan to incorporate it into their AP process in the next 12 months. The study also provides insights on how finance organizations can overcome obstacles to gain more value from their automation.
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