IOFM Survey: Why We Predict a New Surge in Demand for Automation

April 9, 2021

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For the second consecutive quarter, AP teams’ capacity is being stretched thin, likely leading to a new wave of automation to handle the uptick in demand. A year ago, the rise of COVID sent shockwaves throughout the global economy, causing invoice volumes to fall by an average of 22%. The drop in demand led organizations to resort to layoffs; the average cut was 6% of their FTEs. Now, nearly half (49%) of AP departments say that the number of invoices is rising, compared to just three months…

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