With the start of a new year, many clients have asked us what the ROI of a fully automated B2B process is.....while it can be a difficult question based on individual needs and systems, there is plenty of data that addresses the cost savings. If you're still processing your Purchase Orders, Invoices, etc manually, you're not alone! A recent study funded by IBM shows that only 30% of businesses surveyed believe they have full end-to-end integration with everyone they need to (check out the InfoGraphic below).
Cost savings based on data from Forrester Consulting on behalf of IBM estimates companies can save 20-50% by implementing a fully automated system. Some examples of Median Industry Costs for manual processes are:
- $10.10 per Purchase Order
- $12.35 per Invoice
- $12.35 per Payment Remittance
- $10.00 per ASN, Acknowledgment, etc.
Legacy systems can also impede the on boarding of trading partners in a timely fashion costing you additional fees and taking away manpower from other projects. So how does your company stack up to the competition....Remedi is able to assist you in reviewing your system and processes to provide you with an estimate of potential cost savings from process automation.