Skip to content
  • Homepage
  • Our Solutions
    • Document Storage and Records Management
      • Deed Storage
      • Long Term Storage
      • Media Storage Solutions
      • On Demand Storage
      • Onsite Management
      • Secure Vault Storage
    • AP Invoice Automation Solution
      • Start Your AP Journey
      • E-Invoicing
      • Features
      • ERP Integrations
      • Insights by Industry
      • Why Kefron AP?
      • Pricing
    • IT Asset Disposition Services
      • IT Asset Disposal
      • Hard Drive Shredding Services
      • Secure Data Destruction
      • WEEE Recycling and Electrical Waste Disposal
      • Refurbished IT Equipment
      • IT Equipment Resale and Revenue Return
    • Scanning and Data Capture
      • Scan to Digitise
      • Scan to Process
      • Digital Mailroom
      • Microfiche Scanning
    • Online Document Solutions
      • Online Document
        Management Software
      • Online Document Storage
    • Business Process Services
      • Data Management
      • Data Subject Access Requests
      • Securities and Deeds Management
  • Who We Are
    • About Kefron
    • Who We Are
    • Partners
    • Contact Us
    • Working with Kefron
  • News & Events
    • News & Events
    • Articles & Updates
    • Customer Stories
    • Upcoming Events
    • On-demand Events
    • Select Location
    • Ireland
    • United Kingdom
    • United States
    • Rest of the world
  • Let’s Talk
  • Republic of Ireland website
  • UK website
  • US website
  • Rest of the world website

5 Key Implications of Digital Transformation on B2B Payments

The idea of ‘Digital Transformation’ was first introduced in 2014, but while its benefits have been well-illustrated since then, its uptake has been hampered by a hesitancy to commit to adopting digital technologies. Now, the Covid-19 pandemic has seen those once reluctant embrace Digital Transformation, not least digital B2B payment processing. But what implications is this evolution set to have?

Digital Transformation has not come out of thin air, of course. For most consumers, everyday payments for purchases are carried out with a tap of their bank card and no longer in cash. Meanwhile, online banking has become popular with account transfers and bill payments all being done via the internet.

And yet, almost half of all businesses in the UK continue to use paper cheques and paper invoices in their B2B payments processes. The 2019 report revealed that 49% of 500 companies had not yet made the switch, and while this is a significant fall from 63% of businesses in 2018, it still is remarkably high for such a technologically literate time.

The future of finance is inextricably linked with technology, with an Accenture Strategy report revealing that 48% of senior finance executives accepting that digital technologies will fundamentally change everything that finance does.

AP automation has been, and will continue to be, a key part of that fundamental change. Paper-based B2B payment systems are slower, more labour intensive and more prone to human error than the processes offered through digital transformation.

In fact, research has shown that an automated AP system can reduce time spent on processing payments by as much as 80%, reduce processing costs dramatically, provide greater transparency, and provide greater security via the Cloud when compared to traditional manual processes.

5 Key Implications of Digital Transformation on B2B Payments

  1. Increased Productivity

    According to the IOFM’s 2016 AP Key Performance Indicators Study, the average AP department manually handles 61% of the invoices it receives. When the volume of invoices is high, this percentage places the AP department under extreme pressure. Digital technologies automate the individual invoice processing steps, drastically improving productivity. In fact, 36% of businesses that have adopted digital technologies have recorded higher productivity, while AP automation has resulted in 3.9 times as many invoices being processed and 63% more invoices being posted without intervention.

  2. Better Invoice Tracking

    According to a survey by Aberdeen Group, 46% of best-in-class organizations use digital technologies as part of their invoice receipt and workflow processes. Digital technologies make their AP systems more efficient, helping them attain that best-of-class status. They can track every invoice with Key Performance Indicator (KPI) dashboards that provide users with the readily available data needed to perform daily tasks, monitor performances, and spot problems or opportunities as soon as they arise. In essence, it provides a complete audit trail of every point within the process.

  3. Boosts Early-Payment Discount Captures

    For an organisation that processes hundreds of invoices each month, early-payment discounts can translate to significant savings. Yet, most businesses manage to capture less than 21% of all early-payment discount offers. Accounts payable departments that use digital technologies successfully capture those discounts. The average time required to process an invoice manually is 8.8 days, but they are able to process invoices in less than half that time (3.7 days), and less than a third of the time compared to the slowest processing periods (14.3 days).

  4. Enhanced Visibility  

    With poor procedural visibility, AP specialists cannot confidently prioritize tasks, managers don’t get the full performance picture, and financial insight is less clear. Real-time data is a key concern for AP departments who need to find the relevant information as close to immediately as possible to ensure informed decision-making.

    But with digital technologies, an organisation can get real-time access to the critical KPIs and operational data. According to Aberdeen Group, 68% of best-in-class organizations surveyed by Aberdeen Group employ an automated solution that provides real-time visibility and control into all cash account balances.

  5. Reducing Manual Tasks

    Traditional manual invoice processing is labour-intensive and not particularly efficient. The manual tasks are also mundane and repetitive, which creates a further problem – the risk of human error. In fact, in one survey of businesses that process over 350,000 invoices annually, invoice errors are estimated to led to 32% of late payments and 36% of calls from suppliers, while 3.6% of invoices entered manually include a data entry error.

    Delays are also common, with 37% of accounts payable staff up to 8 hours resolving AP process issues. Some 63% of the surveyed businesses has received duplicated invoices, while 58% paid late payment charges to suppliers.

If you would like to talk to a Kefron’s team member and learn more about Accounts Payable Automation technology click here.

BlogInvoice Automation

Related articles

Tire Industry Challenges: Why Finance Teams Are Stuck in the Slow Lane

Read time: 6 minutes

BlogInvoice Automation

The tire distribution sector is racing ahead, driven by booming demand and rapid expansion. But behind the scenes, many companies face mounting tire industry challenges, especially when it comes to finance operations. Managing high volumes of invoice...

Read more

Accounting Integration: How AP Automation Simplifies ERP and POS Operations

Read time: 8 minutes

BlogInvoice Automation

Learn how accounting integration, ERP integration, and POS integration combined with AP automation transform financial operations. This guide covers seamless data sync, accuracy, cost savings, and best practices. Discover how these integrations reduc...

Read more

How AP Automation Simplifies Post-Merger Finance Integration

Read time: 9 minutes

BlogInvoice Automation

Business acquisitions mark a pivotal time of transformation, particularly for organisations operations. While they offer growth and competitive advantage, they also introduce complex operational hurdles. Among these, post-merger finance integration i...

Read more

Navigating ERP Upgrade: A Step-by-Step Guide to a Successful ERP Migration

Read time: 8 minutes

BlogInvoice Automation

Upgrading your ERP system is a crucial move for business efficiency, but poor execution can lead to costly failures. This guide walks you through a successful ERP upgrade, covering data migration, AP automation, and best practices. Learn how to avoid...

Read more

CFO Insights: Mastering Your Transition to Finance Leadership

Read time: 9 minutes

BlogInvoice Automation

A CFO’s success depends on a well-structured transition plan, strategic leadership, and financial innovation. This article explores CFO insights to help finance leaders optimize financial health, improve forecasting, and enhance decision-making wit...

Read more

E-Invoicing Compliance: What Businesses Must Know for 2025 & Beyond

Read time: 8 minutes

BlogInvoice Automation

E-invoicing compliance is becoming mandatory across Germany, Poland, Belgium, Spain, and Malaysia, with governments tightening tax regulations. Businesses must transition to structured invoicing formats like ZUGFeRD, XRechnung, KSeF, PEPPOL, and LHDN...

Read more

Driving Seamless Global Transactions with Accounts Payable Automation

Read time: 5 minutes

BlogInvoice Automation

Discover how AP automation simplifies global transactions by reducing errors, improving compliance, and streamlining international invoices. Learn from the success of businesses like Exclusive Networks, which achieved faster processing and enhanced s...

Read more

Streamlining Accounts Payable: How AP Automation Transforms Team Roles

Read time: 8 minutes

BlogInvoice Automation

Accounts Payable (AP) teams are essential for maintaining a company’s financial health, yet they face numerous challenges. From managing time-consuming invoice processing tasks to reconciling discrepancies and ensuring compliance, the workload ...

Read more

Enterprise Invoice Processing: Unlock Efficiency in High-Volume Invoicing

Read time: 6 minutes

BlogInvoice Automation

Enterprise invoice processing deals with managing high-volume invoices, often exceeding 5,000 per month. Learn how automation and accounts payable solutions tackle invoice management challenges, improve efficiency, reduce errors, and boost supplier s...

Read more

Accounts Payable Automation Trends: Key Insights and Latest Statistics

Read time: 5 minutes

BlogInvoice Automation

The 2024 Accounts Payable Automation Trends report highlights how automation is transforming financial processes. Explore AP automation benefits, AI innovations, and the journey from partial to full automation. Learn how businesses are cutting costs,...

Read more

Get in touch

Ireland
53 Park West Road
Dublin 12, D12 F8RK
T: +353 (0)1 438 0200

Connect with us

TwitterYouTubeInstagramLinkedInFacebookVimeo

  • Privacy Statement
  • Terms And Conditions
  • Sitemap

© Copyright 2025 Kefron. All Rights Reserved

Please confirm your country

  • Ireland
  • United Kingdom
  • United States
  • Rest of the World

Confirm

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.

Cookie Settings Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept