INFOGRAPHIC processing , and nearly one-third ( 31 %) are manually intervening in the majority ( 60 %+) of their supplier invoices . Only 13 % can claim they have to manually intervene in less than 20 % of their supplier invoice processing .
Additionally , over half ( 54 %) say their supplier statement reconciliation takes more than one working week ( at least six days ), and one in ten ( 11 %) say it takes two-three weeks ( 11 – 15 working days ).
IT IS CLEAR THAT MANY FINANCE TEAMS ARE STRUGGLING WITH TIME CONSUMING , MANUAL PROCESSES RESULTING FROM OUTDATED AND COMPLEX TECHNOLOGIES .
“ The level of manual intervention required in the finance and Accounts Payable ( AP ) function raises major concerns around the significant time being wasted on administrative jobs that could and should be tech-driven ,” said Ollier .
“ Automation has the potential to completely transform the finance and AP function , and as such , must become a priority for businesses if they are to capitalise on the core skills of these teams . Only then can they ensure they are delivering value and cost efficiencies for the business , rather than being burdened by lengthy and needlessly complex administrative processes .”
Indeed , automation ranked highest when respondents were asked what best described the top priorities for the AP function in 2025 , with 46 % stating their priority was to fully automate their invoice receipting process , requiring little or no manual intervention . This concurs with the finding that one third say their AP processes are around 41 – 60 % automated , meaning the other half must be manual .
Interestingly , the survey also highlighted a lack of budget was the number one barrier that could stop or limit success in achieving their priorities , with 59 % identifying this as their main obstacle . Budget also governed the next barriers identified by respondents , with technology ( 48 %), time ( 48 %) and skills ( 43 %) all dependent on sufficient budgets .
Ollier concluded : “ While budget constraints are likely to determine the level of investment in automation , as we head into 2025 , businesses can ill afford to ignore the potential risks associated with legacy technologies . Even where some processes are partially automated , this is still likely to result in a lot of time being wasted on manual processes , keeping teams from higher-value tasks that could be driving more productivity and profit .
“ Finance and AP teams want technologies that can automate supplier invoice processing , that can quickly and accurately reconcile statements and that can empower them to focus on the areas of the job that delivers real and tangible value . Yes , this is an investment , but one that will drive long-term , positive change . Put simply , can businesses afford not to update their technologies and systems ?” x
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