New research available The 2026 Financial Census report is now available. Read the latest report here.
Financial Census 2022
Slow invoice processes put payments off and suppliers on edge. So how do you know when to pay—especially when cashflow, supplier relationships, and your reputation are on the line.
4 out of 5 suppliers offer early-payment discounts.
98% of businesses say they want to take advantage of these offers.
But only 2 of 5 discounts get used.
Invoice processing and approvals take too long, and that delay trickles down onto suppliers.
23 days – the average amount of time it takes to approve payments.
5 hours a week – time spent responding to invoice inquiries.
32% – finance professionals who say they can’t close their books on time and that paying suppliers is the biggest challenge.
AP automation is the answer. Companies with fully integrated automation have reduced invoice processing time from 6 days to 1 day.
