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Use of Paper Invoices Continuing to Drop, Says Recent Report from PayStream

Electronic invoicing was expected to make paper invoices a thing of the past. Unfortunately, paper is still the prevalent method when it comes to business-to-business (B2B) invoices. According to a recent report from PayStream Advisors, Electronic Invoice Management: A Move to the Middle, more than half of B2B invoices (52 percent) are still submitted in paper format.

 

Paystream Graph

 

Source: PayStream Advisors Report, Electronic
Invoice Management: A Move to the Middle, 2013

 

 

 


However, there has been a steady change: today’s 52 percent is a meaningful decline from 59% in 2012 and 77% in 20101. The PayStream report states that this decline in paper invoices can be attributed to a large extent to the adoption of electronic invoicing amongst small and medium size enterprises (SMEs) with annual revenues under $250 million2.

Until recently, accounts payable automation was limited to larger organizations owing to the financial and business resources needed to implement these solutions. But today we are witnessing the long awaited “move to the middle”. So what is driving SMEs to automate? PayStream says there are two factors:

  • Maturity of AP automation solutions, which help alleviate many of the challenges associated with manual, paper-based processes; and
  • Availability of easy-to-implement and easy-to-use solutions that are affordable and require minimal upfront investment.

As more SMEs continue to adopt electronic invoicing, the day when American businesses can be completely free of paper invoices does not seem so far off.

To download the full report, click here. To learn more about ADP’s payables automation capabilities, click here.

1PayStream Advisors Report, Electronic Invoice Management: A Move to the Middle, 2013. Page 2
2PayStream Advisors Report, Electronic Invoice Management: A Move to the Middle, 2013. Page 3


 



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