Metric of the Month: Invoices on the Rise
The number and size of invoices have climbed for the vast majority of AP teams for the third consecutive quarter, a recent IOFM poll revealed. Every new invoice increases the likelihood for a fraudulent invoice to slip through the cracks, particularly as organizations work through the changes to in-office vs. home-based staff, and the accompanying confusion about invoice routing and secure processes. Moreover, because the size of invoices is also expanding, the size of potential fraud is also likely to be larger.
Want more benchmarking data? Go to the Benchmarking section of IOFM.com. Members can download the IOFM 2020 Benchmarking Reports, and if you’re not a Member yet, schedule a demo to get free access. Or – register for our upcoming webinar: What You Can Learn From AP’s Best Departments.