Leading Companies Are Unlocking Capital Trapped in Inefficient A/R and A/P Functions
BOSTON, MA--(Marketwire - June 9, 2010) - Reflecting the unpredictable economic conditions of the past year, companies are focused on maximizing cash flow and a holistic approach to transactions -- examining the flow of funds into Accounts Receivable (A/R) and outflow of funds from Accounts Payable (A/P) according to "Global Payments: Maximizing Cash Flow with Electronic Payments and Process Automation," a new study recently published by Aberdeen Group, a Harte-Hanks Company (
"Despite the reign of the paper check and manual-based processes in business-to-business transactions in the U.S. and many parts of the world -- exacerbated by supplier resistance to electronic payments acceptance -- economic and efficiency gains with automation of the financial supply chain from invoicing through payment settlement are key motivators for demand and supply to align. Ultimately, the adoption of electronic payment vehicles requires businesses to alter their payment behavior and restructure their financial processes. Those companies that are able to make the shift will gain competitive advantage," commented Nasreen Quibria, senior Analyst at Aberdeen Group and author of the report.
Now in its third year, Aberdeen's annual survey of payments, which benchmarked over 160 companies worldwide, finds that leading companies are employing electronic payments and process automation to streamline and accelerate finance business processes, reduce operating costs, while improving visibility, control, and efficiency to provide a foundation for increased profits. These top performing firms that have initiated programs adopting electronic channels have been able to achieve a 16% decrease in A/R processing cost and a 14% decrease in A/P costs year over year.
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About Aberdeen Group, a Harte-Hanks Company
Aberdeen provides fact-based research and market intelligence that delivers demonstrable results. Having queried more than 30,000 companies in the past two years, Aberdeen is 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.
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