Nearly 70% of Indian firms process invoices manually, study finds
Turns out, nearly 70% of Indian companies are still handling invoices the old-school way, manually, even though digital payments and online banking are pretty common now.
According to a recent AI Accountant study of more than 2,400 firms, billing and accounts payable are the toughest accounting challenges for most businesses.
This slow process is holding up important financial work.
Indian business leaders show automation interest
The good news? More business leaders are getting interested in finance automation tools like automated invoice processing and AI-powered ledger mapping.
Founders and owners led the charge, with 37.3% of product demonstrations and conversion rates. Manufacturing companies especially seem keen to switch.
As Bhagath G, co-founder of AI Accountant, puts it, "If invoices are processed manually, everything that follows gets delayed."
So automation could be a game-changer for smoother operations.