October 2021 Benchmarking Survey: Invoice Volumes

Key takeaways from IOFM’s latest quarterly benchmarking survey conducted in early October 2021: AP teams remain swamped with invoices. For the second consecutive quarter, two in three AP teams report increases in invoice volume. (In fact, one in five report the sheer number of invoices is up by more than 10%.) Moreover, 70% report the size of invoices is also increasing. This means that as the number of invoices increases, the potential magnitude of risks is also climbing. Unfortunately, many…