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With American Express Purchasing Solutions, you won't be handling separate
invoices from every single one of your suppliers. And you won't be generating
thousands of checks each month. Instead, you'll make one payment a month, to
America Express, either by electronic funds transfer, automated clearing house
or check.
What is the one-payment-per-month concept worth? By moving to an American
Express Corporate Purchasing Solution, your firm can reduce costs associated
with billing and payment by as much as 85%.* For a typical corporation,
that can mean hundreds of thousands (if not millions) of dollars a year in
process savings alone - savings that go right to the bottom line.
Even with the growing use of e-procurement and ERP systems, nearly 70% of
corporate purchasing transactions still involve costly paper invoices,
according to the Aberdeen Group.
By moving to a Purchasing Card program, average per-transaction costs are slashed from
$59 to $9, according to Accenture.
While mid to large size companies have made good progress in implementing e-procurement systems, their overall source-to-settle process is still fragmented with multiple manual, paper-based steps, particularly for invoicing and payment. More than 58% of indirect spend and 52% of indirect transactions encompass some portion of the source-to-settle process being manual. Companies are now driving their automation through the back-end of the process by integrating an electronic invoice payment and presentment technology.*
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*Accenture Study - The Role of Procurement Cards in the Source-to-Settle Process, 2007
**Procurement Card Comparative Analysis, prepared for American Express by Accenture, 2007
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