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Financial Automation Survey: P2P Benchmarking Report

Publication Date: 9/20/2006
Publication Pages: 19
Format: This document is electronic and available for immediate download
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Summary: PayStream Advisors developed this report to provide insights into the adoption of various technologies in the procure-to-pay space and the benefits achieved from automation as well as to enable procurement and AP managers to benchmark their departmentsÂ’ performance against their peers.

The FAS 2005 was conducted online in the third and fourth quarters of 2005 and was completed by over a hundred accounts payable, purchasing, and financial professionals at domestic Fortune 1000 companies. The respondents spanned a range of company sizes and industries including manufacturing, financial services, healthcare, utilities and telecommunications.

 
 
 
 

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Table of Contents

Introduction 1
Survey Methodology 1
   Figure 1: Survey Demographics: Annual Revenues 1
Current Use of Technology 2
   Figure 2: Adoption of Various Technologies 2
Market Snapshots: Segments of the Market Today 3
   Figure 3: Innovators Versus Mainstream Adopters 3
   Figure 4: What the Innovators are Doing? 4
   Figure 5: Technology Adoption by Company Size 4
Organizational Pain Points 5
   Figure 6: Pain Points in Financial Operations 5
   Figure 7: Accounts Payable Pain Points 5
Risk Management & Fraud Control 6
   Figure 8: Impact of SOX 6
   Figure 9: Fraud Control Measures Used 6
Technology Adoption 7
Purchasing Cards 7
   Figure 10: Benefits of Purchasing Cards 7
Travel & Entertainment Expense Management (TEM) 8
   Figure 11: Adoption of TEM Solutions. 8
   Figure 12: Key Benefits of TEM 8
   Figure 13: TEM Features Used 9
Imaging & Workflow Automation (IWA) 10
   Figure 14: Adoption of Imaging & Workflow Solutions 10
   Figure 15: IWA Solution Type 10
   Figure 16: Primary Benefits of IWA 11
Electronic Procurement 12
   Figure 17: Adoption of Electronic Procurement 12
   Figure 18: Primary Benefits of eProcurement 12
Payment Audits 13
   Figure 19: Adoption of Payment Audits 14
Conclusion 14
Figure 20: PayStream Innovation Lifecycle 15
About PayStream Advisors, Inc  

NAVIGATING the FUTURE of FINANCIAL AUTOMATION