-- Displaying cross-functional coordination amongst procurement, finance, treasury, and IT 1.4 times more frequently than their peers -- Standardizing payment processes 67% more frequently than all other firms -- Conducting daily reconciliation of payments 54% more frequently than all other enterprises"While a majority of enterprises believe that adopting electronic payment methods is critical for the success of the A/P department, a majority of payments are made by checks," notes Amit Gupta, research analyst at Aberdeen. "Supplier resistance and lack of integration of electronic payment methods with existing accounting systems are the top barriers to adoption of electronic payment methods. By processing more than twice the number of payments electronically than their peers, Best-in-Class enterprises display significantly lower payment processing cost and reduced risk to payment fraud." Based on the research, Aberdeen recommends that enterprises desiring Best-in-Class payment performance should integrate electronic payment methods (ACH, commercial cards, and wire transfer) with their existing accounting systems, as well as conduct spend analysis as a means of segmenting suppliers into preferred payment methods. A complimentary copy of this report is made available due in part by the following underwriters: American Express, Bottomline Technologies, PowerTrack/U.S. Bank, and SunGard. To obtain a complimentary copy of the report, visit: http://www.aberdeen.com/link/sponsor.asp?cid=4899. About Aberdeen Group, a Harte-Hanks Company Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen™ for insights that drive decisions. As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
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Contact Information: Media Contact: Amit Gupta Aberdeen Harte-Hanks (925) 264-1828 amit.gupta@aberdeen.com