Tech Teams Shift AP Buying Power
Tech teams now influence payment platform choices more than pricing for SMBs
In brief
Tech teams now influence payment platform choices more than pricing for SMBs SMBs prioritize AP system integration over cost when selecting payment platforms Originally reported by Pymnts.
Integration Rises
58% of SMBs rank integration as very or extremely important when evaluating payment tech, slightly ahead of pricing.
“58% of small- to medium-sized businesses rank integration as very or extremely important when evaluating technology solutions”
ERP Integration Key
62% of businesses identify ease of ERP integration as the top factor for AP automation solutions.
“62% of businesses identified ease of such system integration as the most important factor”
Implementation Matters
40% of organizations list easy implementation and ROI as top AP automation adoption factors.
“Easy integration with existing systems, an easy implementation process and proven return on investment each ranked as top AP automation adoption factors”
Integration Challenges
49% of finance leaders cite integration issues as their top concern after cost in AP automation.
“Difficulty integrating with existing systems was the top AP automation concern after cost, cited by 49% of finance leaders”
Manual Workflows Persist
Half of organizations still process over 5,000 invoices monthly through non-automated workflows.
“Half still processed more than 5,000 invoices per month through workflows that were not fully automated”
The short version
SMBs prioritize AP system integration over cost when selecting payment platforms
