CHARLOTTE, N.C. (PRWEB) March 19, 2018
This week, financial research and advisory firm PayStream Advisors announced the publication of its first major research report of the year, the 2018 Payables Insight report. This report offers a break from tradition for the firm, as it combines several finance topics—typically covered in their own consecutive reports—into one cohesive piece.
The purpose of the report is to offer a holistic overview of the current state of payables management for organizations operating with various degrees of payables automation. “We wanted to combine our findings on the entire invoice-to-payment process to give organizations a better idea of the where they stand against their peers,” said Anna Barnett, Research Associate at PayStream. “We know that many organizations struggle with understanding just where to start with process automation.”
The report includes survey results from over 400 businesses from a variety of industries and revenue segments. The report explores trends across a variety of payables process topics, including invoice receipt types and intake methods, approval workflow strategies, invoice management pains, typical payments methods, payment management pains, benefits achieved from payables automation, and barriers to payables automation adoption. The report also highlights the main features and services offered in payables automation solutions, including invoice receipt and management technology, electronic payments and working capital optimization tools, supplier management services, and reporting and analytics software.
The report also offers a number of current-state metrics across different payables archetypes (e.g. top payment management pains among SMEs vs. enterprises). These benchmarks are paired with automation best practices in order to guide readers as they begin payables process improvement and technology adoption.
PayStream’s report profiles ten payables automation solutions including those offered by Artsyl, Bottomline Technologies, Corcentric, Corporate Spending Innovations (CSI), GEP, Hanse Orga Group, Hyland, Inspyrus, Nvoicepay, and Paramount WorkPlace. To access the survey data and read PayStream’s independent analysis, download the full 2018 Payables Insight report from the Resources section at http://paystreamadvisors.com.
About PayStream Advisors
PayStream Advisors is a research and advisory firm focused on business process automation in sourcing, supply chain management, procurement, accounts payable, payments, and expense management. PayStream’s team of experts provide targeted research and consulting services to address the changing needs of finance and procurement professionals. In short, PayStream is dedicated to maximizing returns and minimizing risks associated with technology investment. PayStream’s research reports, white papers, webinars, and tools are available free of charge at http://www.paystreamadvisors.com. PayStream Advisors is a division of Levvel, an IT consulting firm specializing in technology strategy, design, architecture, and DevOps.