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Average time to process an invoice
March 27, 2023
Q. What is the industry average for the time it takes to process an invoice from receipt to ready-to-pay? We have an average of 9.7 days and want to find out if there are companies with faster processes.
A.
The quick answer is there are certainly AP functions that pay invoices faster than 10 days. For example, one mega-retailer processes 100 million invoices per year, 99% of which are paid instantly without human intervention. But I’m going to assume you don’t have their invoice volume and…
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