For many companies that rely upon a paper-based process, the purchase of a single piece of equipment may require up to 60 steps and include input from several departments. Studies indicate that the average cost to complete a paper-based transaction is $13. Companies processing 8000 invoices per month may spend over $1million in processing costs each year.

With the Spendworks service, companies can reduce their process steps to approximately 10, resulting in significant cost savings, smoother workflow, better audit trail, and improved analysis of the spend data.