The survey, which had 551 respondents, looked at the AP automation within several global business sectors. Nearly 80 percent of the respondents were from North American-based companies, and healthcare respondents made up 18.3 percent of the survey. Other findings of the survey include the following:
• More than 80 percent of respondents reported that automation technology in their AP departments resulted in faster invoice processing cycle times.
• Roughly 25 percent indicated it takes their organization more than 15 days to pay an invoice.
• A lack of money and a lack of resources were the most common reasons why organizations have not implemented automated data capture technologies.
Related Articles on Hospital Finances:
Identifying the ‘Tipping Point’ in Patient Collections: Q&A With Jim Bohnsack at TransUnion
