According to a recent report from analyst firm Aberdeen Group, companies who are electronically connected to more of their suppliers are steadily achieving transaction cost savings in both their procurement and accounts payable departments.
Aberdeen research analyst Amit Gupta says that top-performing companies "have demonstrated increased visibility into corporate spend and are continually encouraging enterprise-wide collaboration among key functions such as finance, procurement, A/P and IT." In the report, companies cite the following drivers behind enabling their suppliers through better connectivity:
58 percent of companies concerned with enabling B2B e-commerce with suppliers
56 percent who are interested in reducing procurement operating costs
37 percent who are interested in reducing accounts payable operating costs
25 percent who are looking to improve the quality of supplier information
24 percent who want to increase spend under management
23 percent who are trying to increase cost savings from lower payments
