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Vendor Invoice Processing

Although the percentage of companies getting invoices electronically has remained the about the same from 1998 to 1999 to 2000 to 2001 to 2002, those that do get invoices electronically have significantly increased their percentage of electronic invoices. EDI percentages are stagnant but use of custom feeds from vendors and procurement cards are each up. Use of the Internet to obtain invoices electronically is just beginning to be explored.

Also, the number of companies always taking discounts, regardless of terms, has increased from 28% in 1998 to 38% in 1999, 41% in 2000, 39% in 2001 and jumped to 45% in 2002.