Other Internal Operations- Myth Two

"Our accounts payable operations are as up to date as our other back office operations."

Fact – Apart from EDI (electronic data interchange) with large vendors and electronic payments, accounts payable methods and technologies have changed little in the past 20 years. Imaging (scanning invoices) is used simply to replace file cabinets because accounts payable operations are so unique and common imaging workflow systems are too generalized. EDI hasn’t become more widespread because it is so expensive to setup with each vendor and because Value Added Network (VAN) charges are high.