In our third annual report in the Lost in transaction series, we analyze errors in accounts payable and accounting processes for some of the biggest companies in the Nordics.
The result once again shows significant capital loss due to transaction-related errors, human and systematic. Despite that the analyzed organizations are among the most tech-savvy, errors in accounts payable still hurt bottom-line results.
These are some of the take-aways from the report:
- 100 Nordic organizations with 100+ million euro in revenue
- 20 872 182 analyzed invoices
- 110 340 total invoice errors
- 0.53% of all invoice were posted erroneously
- 75% erroneous invoice postings were detected internally
- 0,59 EUR lost per every processed invoice
- 22.5 full-time working days lost per organization to correct erroneous postings
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