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Six big insights and what to do with them.

What makes an AP profit center? How many FTEs can you save with automation? What’s happening with standard payment terms? What does it take to be world-class? It’s all in here.

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Supplier onboarding automation equals huge savings.

The survey showed that fewer average FTEs (per 10,000 suppliers) are needed as the level of automation increased.

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How do you prevent bank account change fraud?

Verification with the bank – either manual or automated – is the most reliable control for bank account changes. But it is performed less than 17% of the time.

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Lose momentum. Lose money.

We analyzed $4.5 trillion in spend and made a startling discovery: statement and duplicate recoveries are reduced by 23% for each year an organization delays an audit after the first recovery audit.

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Top performers combine payment terms extension with early payment programs.

Average standard payment terms have increased by 15 days, but enforcement is a different matter…

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