2023 State of Accounts Payable

MineralTree's annual State of Accounts Payable Report sheds light on the evolution of AP priorities, along with new trends and challenges on the horizon.

Complete the survey and you'll receive a $15 gift card of your choice to Visa, Amazon, Uber, DoorDash, Starbucks, or Dunkin once the survey closes! We’ll also share the report with you before it publishes, so you can be the first to see the findings.

All data will be aggregated and anonymized.

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* 1. On average, how many vendor payments does your organization make each month?

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* 2. What percentage of your vendor payments are made with each of the following payment types? Select a percentage for each payment type, or none if you don't use that payment method.

	None	1 - 10%	11 - 25%	26 - 50%	51 - 75%	76 - 100%
Check	Check None	Check 1 - 10%	Check 11 - 25%	Check 26 - 50%	Check 51 - 75%	Check 76 - 100%
ACH	ACH None	ACH 1 - 10%	ACH 11 - 25%	ACH 26 - 50%	ACH 51 - 75%	ACH 76 - 100%
Virtual card	Virtual card None	Virtual card 1 - 10%	Virtual card 11 - 25%	Virtual card 26 - 50%	Virtual card 51 - 75%	Virtual card 76 - 100%
T&E/purchasing card	T&E/purchasing card None	T&E/purchasing card 1 - 10%	T&E/purchasing card 11 - 25%	T&E/purchasing card 26 - 50%	T&E/purchasing card 51 - 75%	T&E/purchasing card 76 - 100%
Wire	Wire None	Wire 1 - 10%	Wire 11 - 25%	Wire 26 - 50%	Wire 51 - 75%	Wire 76 - 100%
FX/international	FX/international None	FX/international 1 - 10%	FX/international 11 - 25%	FX/international 26 - 50%	FX/international 51 - 75%	FX/international 76 - 100%

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* 3. Over the last year, has the percentage of vendor payments made with each of the following payment types increased, decreased, or stayed the same?

	Decreased	Stayed the same	Increased	We don't use
Check	Check Decreased	Check Stayed the same	Check Increased	Check We don't use
ACH	ACH Decreased	ACH Stayed the same	ACH Increased	ACH We don't use
Virtual card	Virtual card Decreased	Virtual card Stayed the same	Virtual card Increased	Virtual card We don't use
T&E/purchasing card	T&E/purchasing card Decreased	T&E/purchasing card Stayed the same	T&E/purchasing card Increased	T&E/purchasing card We don't use
Wire	Wire Decreased	Wire Stayed the same	Wire Increased	Wire We don't use
FX/international	FX/international Decreased	FX/international Stayed the same	FX/international Increased	FX/international We don't use

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* 4. If you use virtual, T&E, or purchasing cards, which type of AP payments do you typically make on the card? Select all that apply.

One-time invoice payments

Recurring charges (e.g. card on file)

T&E/Purchasing cards

We do not use virtual, T&E, or purchasing cards.

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* 5. What are the main drivers for the payment methods your organization currently uses? Select all that apply.

We’ve always done it that way

Speed of payment

Ease of use

Cost of payment method

Vendor preference

Contractual commitment with vendor

Security/fraud protection

Rewards/rebates

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* 6. Over the next year, my organization intends to convert more of its AP spend to electronic payment methods (e.g., ACH, card).

Strongly agree

Agree

Neither agree nor disagree

Disagree

Strongly disagree

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* 7. What are the main benefits your organization expects to gain from making more electronic payments? Select all that apply.

Cost savings

Increased process efficiencies

Increased security/fraud protection

Faster, more timely payments

Cash-back rebates/rewards

Strengthened vendor relationships

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* 8. What obstacles does your team face in converting more AP spend to electronic payments? Rank the options below, 1 being the biggest obstacle.

Team capacity to contact and enroll vendors

Supplier willingness to accept ePayments

Additional payment types require separate processes

Increased risk from managing vendor payment/bank details

My organization feels more comfortable writing checks

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* 9. We would consider passing over a prospective vendor if they didn't offer the option to pay electronically (e.g., ACH or card).

Strongly agree

Agree

Neither agree nor disagree

Disagree

Strongly disagree

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* 10. What are the biggest pain points in your organization’s vendor payment process? Rank 1-5 in order of importance, 1 being the biggest pain point.

Setting up a payment run

Getting payments authorized/released

Executing payments (e.g., writing checks, entering ACH transactions)

Reconciling payments

Enrolling and managing vendors

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* 11. In addition to vendor payments, does your organization make payments to individuals (e.g., employees, contractors, customers, patients)?

Yes

I'm not sure