InvoiceInfo Releases Results of Accounts Payable Customer Service Survey

ATLANTA, June 15, 2018 /PRNewswire-PRWeb/ -- InvoiceInfo is pleased to announce the results of its third annual Accounts Payable Customer Service Survey. The survey, completed by more than 150 organizations, reveals challenges, best practices, processes and tips for improved accounts payable customer relationships.

Accounts payable is unique in that multiple customers rely on outputs from its processes. Two critical customers of AP are internal clients (buyers) and vendors.

When asked to rank in order of frequency the most common inquiries received from vendors and internal colleagues, two questions vie for the most frequently asked. Narrowly taking the top spot is the question, "Has my invoice been paid?" This is followed closely by, "When will my invoice be paid?" These two questions led all others by a very significant margin.

The majority of the survey participants have a policy in place that dictates how long the staff has to respond to an inquiry. For those organizations that have a policy, 48% require a response within one day and 29% are required to respond within two days.

Some organizations have thousands of inquiries each month that use up considerable staff time and effort to serve vendors properly. The most frequently asked questions, such as has my invoice been paid, are straightforward and can be handled by a vendor self-service portal where vendors can quickly get their answers themselves. AP does not have to be a "middleman" slowing the process down, not to mention interrupting other more important tasks to service customer inquiries.

So, it is surprising to learn that only 25% of participants responded that they have a vendor self-service portal. However, this is up 33% from last year's survey results as vendor self-service becomes more widely implemented as a best practice. The leading reasons cited for implementing an online self-service portal were to "reduce phone calls and emails" and to "handle more productive tasks."

When asked how to maintain great relationships with AP customers, the top answer was "communicate, communicate, communicate." Other popular answers were: "Provide prompt, accurate processing; courteous service; be transparent; keep everyone informed; have self-service for 24/7 availability; always listen to what customers say and do your best to resolve the issue; respond to emails and phone calls within 24 hours, treat vendors as partners and let vendors understand and then collaborate.

To receive your complimentary copy of the survey or for more information on vendor self-service, please contact Patti Wysocki at (757) 564-1930, email [email protected] or visit the InvoiceInfo website at http://www.InvoiceInfo.com.

ABOUT INVOICEINFO
Supplier Self-Service Automation Specialists

InvoiceInfo's modular suite of specialized supplier self-service applications transforms time-consuming tasks, such as vendor inquiries, registration and information management, into vendor self-service solutions. InvoiceInfo has been implemented by leading companies worldwide to improve productivity, reduce cost and enhance vendor relations.

InvoiceInfo's modular design requires little to no IT time and lets customers implement the exact functionality needed today while allowing additional features to be added as needed:

• Payment status inquiry automation
• Vendor registration: W-9, W-8, custom registration forms
• Vendor verification: TIN, OFAC, Address, 22 additional lists
• Vendor profile change requests
• Statement matching and reconciliation
• Operation analytics reporting

SOURCE InvoiceInfo