Accounts Payable Automation And Innovation Friction

By PYMNTS | May 2, 2019

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Accounts Payable Automation And Innovation

Innovation for accounts payable is often an afterthought, but automated solutions can efficiently onboard customers, cut back on errors and eliminate paper-based invoicing systems. In technology, Visa has been investing in artificial intelligence (AI) as well as data, and Apple beat analysts’ estimates for the second quarter. And, in retail, apart-hotel startup Locale raised funds in a seed round as it looks to create a boutique experience for travelers in apartment buildings. All this, Today in Data.

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Data:

$500 million: Approximate amount Visa has spent through the past five years on data and AI efforts.

71.1 percent: Share of firms with “very” or “extremely” efficient AP processes that were interested in innovation.

$58.02 billion: Revenue Apple reported in its March quarter earnings report.

51.3 percent: Share of firms in a survey that expressed satisfaction with paper checks as a payment method.

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$2.5 million: Amount that apart-hotel startup Locale recently raised in a funding round.

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See More In: accounts payable, artificial intelligence, automation, Commerce, digital transformation, friction, Innovation, Invoicing, News, payments, Today in Data