The median time it takes to process a vendor payment today is 4.0 days, the average puts it at 6.8 days. At best practice companies, this basic measure of department performance runs under three days.

 

Automation can bring this number down dramatically. For example,

moving from a medium to a high level of automation can bring this down by nearly one and a half days.

By industry, the shortest processing times are usually found in wholesale trade, the longest in healthcare and construction.

 

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