BOSTON, Oct. 11, 2023 (GLOBE NEWSWIRE) -- MineralTree, a Global Payments (NYSE: GPN) company and accounts payable (AP) and payment automation solution provider, today released its eighth annual State of AP Report. This year’s survey looks at progress in modernizing back-office finance processes for businesses amid the impact of multiple macroeconomic factors. The 2023 report includes responses from buyers and their vendors, presenting a complete view of the AP and payment automation landscape.
“As businesses continue to face a number of challenges and pressures, finance teams are being tasked with finding new ways to drive operating efficiencies and get more control over cash flow,” said Brian Greehan, head of B2B Solutions for Global Payments. “In response, they are prioritizing investments in back-office automation and working with vendors to increase the adoption of digital payments.”
MineralTree’s 2023 State of AP Report explores these trends and their significant impact on finance teams. It also offers practical guidance to help businesses continue to optimize their AP and payment operations.
Some key themes highlighted in the report, include:
Currently, only 20% of businesses have fully automated their AP processes, creating ample opportunity for businesses to evolve their processes in order to remain competitive. In addition to these key themes, the report offers guidance every business can take to optimize their payment operations, including:
The full report delves into all of these topics and more in greater detail and is available for download here.
About the MineralTree State of Accounts Payable (AP) Report 2023
For the eighth consecutive year, MineralTree surveyed a wide range of finance professionals to analyze their current state of finance operations, challenges, and outlook for the year ahead. For the second year running, the report includes the perspective of buyers and their vendors. We surveyed 821 finance professionals involved in the AP function (MineralTree customers and non-customers) along with 246 employees at vendor organizations. Respondents represented a mix of industries, company sizes, and job levels with annual revenues ranging from under $1 million to more than $1 billion with the majority at the mid-market $10-$100 million mark.
About MineralTree
MineralTree, a Global Payments (NYSE: GPN) company, provides modern, secure, easy-to-use accounts payable (AP) and payment automation solutions. By uniting technology and passionate people, we make the process of business payments easy, impactful, and profitable. Our solutions combine ease of use with robust capabilities that drive meaningful insights, transforming the back office into a strategic partner of the corner office. For more information, visit mineraltree.com and follow MineralTree on LinkedIn.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world.
Headquartered in Georgia with approximately 27,000 team members worldwide, Global Payments is a Fortune 500® company and a member of the S&P 500 with worldwide reach spanning over 170 countries throughout North America, Europe, Asia Pacific and Latin America. For more information, visit globalpayments.com and follow Global Payments on Twitter (@globalpayinc), LinkedIn and Facebook.
Media Inquiries Tim Walsh for MineralTree +1 617.512.1641 [email protected]
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