New Study Details How Enterprises Can Slash Payment-Processing Costs and Time

BOSTON, MA -- (Marketwire) -- 08/11/09 -- With current economic conditions forcing enterprises to focus on cost containment, top-performing organizations are driving efficiencies within the final phase of the accounts payable process to unveil a wealth of cost and time benefits, according to a new research study published by Aberdeen Group, a Harte-Hanks Company (NYSE: HHS).

The E-Payables: Electronic Payments research report, which examined the strategies, intentions, and performance of over 140 enterprises, found that nearly 70% of enterprises place a critical / high-priority level on improving overall payment processes and procedures, a figure that reinforces the notion that overall financial success within the enterprise rests on the operational shoulders of the accounts payable department.

"Top-performing enterprises realize the value in automating the final phase of the A/P process," said Christopher Dwyer, research analyst and author of the study, Aberdeen. "By leveraging electronic payment methods, such as ACH, commercial cards and wire transfer, they have significantly cut payment-processing costs in addition to reducing the risk of payment fraud."

In addition to driving payment-processing costs that are nearly 14.6-times lower than all other organizations, leading enterprises utilized a core set of A/P capabilities and technologies to achieve superior performance. These organizations are:

--  53% more likely to have electronic payments requirements established
    as a standard means of conducting business with key suppliers
--  43% more likely to integrate payment solutions with existing A/P
    systems
--  42% more likely to have standardized payment processes
    

A complimentary copy of this report is made available due in part by the following underwriters: SunGard, SunTrust, and Visa.