Enterprises handle a plethora of documents today. These documents are often manually processed, and the relevant data is then manually entered into the application systems for storage and future retrieval purpose. Relying entirely on human efforts to process documents can lead to long cycle times, unwanted errors, increased costs, and hampered productivity.
According to Gartner, by 2025, 50% of business-to-business invoices worldwide will be processed and paid without manual intervention, and by 2030, 80% of business-to-business invoices worldwide will be transmitted digitally.