ART - Electronic Accounts Payable Benchmark Survey Results 2015

The document is an overview of the 2015 Electronic Accounts Payable Benchmark Survey Results. The survey analyzed the use of electronic accounts payable (EAP) and provided insights into trends, benchmark data, and variables that contribute to program success. The survey included responses from 870 EAP end-users representing various organizations such as corporations, government agencies, universities, and non-profit organizations. The main report highlights the spending norms for EAP programs, including monthly spending per organization, transaction amount, spending per employee, and the percentage of EAP spending compared to total purchasing card spending. EAP is primarily used for goods and services that are too expensive for payment with plastic purchasing cards. Respondents reported that a significant portion of EAP payments are for operating expenses and assets. The survey also found that EAP spending has been growing, with the majority of respondents reporting an increase in EAP spending over the past year. Going forward, most respondents expect further increases in EAP account spending. The estimated EAP spending is projected to rise from $65 billion in 2014 to $110 billion by 2019. Respondents reported several benefits of using EAP, including cost savings compared to traditional check payment methods, availability of working capital float, and the ability to track supplier receipt of payment and integrate with organizational software. The majority of respondents recognized the value of EAP over other payment methods. Supplier acceptance of EAP payment was also examined in the survey. The majority of respondents had made efforts to enlist suppliers to accept EAP payment, and the number of suppliers paid by EAP had increased over the past two years. However, only a small percentage of respondents were satisfied with the current level of supplier acceptance. If all desired suppliers accepted EAP payment, the annual spending on EAP would significantly increase. The report also explores best practices of "high performing" EAP programs, including leadership and strategy, understanding and focus on EAP benefits, program management and control, program policy choices, supplier relations and acceptance of EAP payment, use of an expanded EAP toolkit, provider selection, and training and communications. Lastly, the survey found that a majority of EAP-using organizations also use plastic purchasing cards. The most commonly cited difference between plastic card and EAP purchases is that EAP is primarily used for larger expenses, while plastic cards are used for smaller, day-to-day purchases. Overall, the report provides a comprehensive analysis of EAP usage and offers insights into the trends, benefits, and best practices of EAP programs.