Key Facts
- AI in accounts payable can reduce processing costs by 81% and speed up processing times by 73%.
- The AI in AP market is an $8.3 billion industry, signaling rapid growth and widespread adoption.
- 78% of CFOs believe integrating AI into AP processes is crucial for financial operations.
- 87% of mid-sized organizations plan to invest in AI-powered AP tools within the next 12 months.
- 86% of fully ERP-integrated companies report strong cash flow visibility, compared to just 33% of non-integrated peers.
- 72% of organizations are already using AI in AP or finance, with workflow automation (58%) and data extraction (44%) leading adoption.
- Only 55% of businesses have scaled AI in AP, while 45% remain in pilot or early implementation stages.