Based on this study, the error rate on vendor payments averages 1.6

percent. Best practice A/P departments however, are able to drive this

error rate to below 1%. The error rate appears to be largely unaffected by automation and is fairly uniform across companies of different size. By industry, the lowest error rates appear in wholesale, retail and agriculture, while the highest error rates appear in government payments to vendors.

 

<<Back                                                                            Next>>