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Posts Tagged ' FinancialAccuracy'

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Is Manual Invoice Processing Costing You More Than You Think?

The most obvious issue is human error. Even the most diligent staff can make mistakes, which can lead to significant costs. According to the SenseTask, over 60% of invoice errors stem from manual data entry, such as when teams input amounts, codes, or vendor details by hand. These errors waste time and can increase processing costs by up to 20% due to the need for rework and corrections, according to Resolve Pay. Given that accuracy is crucial for financial reporting and vendor relationships, even minor mistakes can have major consequences.

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