More than 70 percent of organizations receive over three quarters of their invoices in paper form, according to a recent survey. While automating invoice processing can reduce costs by 75 to 90 percent, more than half of the 100 respondents cited the perceived cost and resources required with on-premise software as barriers to automation.
Comment from Toby Bell, research vice president at Gartner: Many factors are prompting businesses to focus on enterprise content management (ECM) as part of a shift toward a SaaS or cloud model. The attractions for applications like invoice processing are obvious as it brings with it fewer costs for infrastructure hardware, software and management, and less complexity in the applications layer.
Comment from Roger Bottum, vice president of marketing, SpringCM: The impact on SG&A and risk reduction are obvious to most organizations. On-premise delivery models have been a barrier. But now with cloud solutions, automating the invoice process can be easy, fast and affordable to address.
About the survey: The survey was conducted by SpringCM, a specialist in cloud enterprise content management.
Contact: http://www.springcm.com
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