READY, SET, AUTOMATE: 5 Ways Health Care Organizations Can Gain Efficiencies, Reduce Costs with Digitized AP Technology
Cumbersome manual procure-to-pay (P2P) processes potentially put the supply chain at risk with errors, slow payments, high processing costs, as well as environmental questions. Approximately 70 percent of health care invoices are still paper-based and 85 percent are paid with paper checks, with an average processing cost of $7.00 per check.
In this white paper, we’ll discuss five areas where streamlined ordering and processing of health care invoices can yield significant improvement including:
- Finding quick wins through data-informed opportunities
- Paperless supply chain management
- Solution scalability and enterprise resource planning (ERP) compatibility
- Improved synergies between accounts receivable (AR) and accounts payable (AP)
- Enhanced discount capture and better cost containment
CQO Tie-in: This paper discusses the organization’s financial outcomes by considering the potential reduction of costs and risks through streamlining the P2P cycle.
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