| 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.
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