Most large organizations have four primary systems to streamline and automate the Procure-to-Pay process
However, the process of collecting business identity elements (tax, banking, address, insurance, etc.) for the thousands of entities to whom they send orders, received invoices from and make payments to is all done manually in every company of all sizes around the world.
Payments fraud is rampant across nearly all industries.
Compliance issues — both internally and externally — continue to escalate at many organizations.
Inefficient, highly manual processes are rife with potential for human error.