The cost of processing an invoice is a critical component of the overall invoice processing workflow. According to the American Productivity & Quality Center (APQC), this cost has decreased over time, with only $2.00 to $9.00 per invoice being reported just a few years ago, indicating the rising adoption of automation and smart technologies in business processes. Calculating the cost of invoice processing involves considering various factors such as employee resource costs, cost of supplies, infrastructure costs, and hidden costs. Employee resources include labor costs for accounts payable team members, while cost of supplies includes paper, printers, envelopes, stamps, ink, hardware, and software expenses. Infrastructure costs relate to subscription-based software products used in digital invoicing, including enterprise resource planning (ERP) platforms, accounts payable software, payment processors, and fraud detection software. Hidden costs include those associated with mailing checks, printing copies, transaction fees, mistakes in invoice capture, and errors leading to additional labor and time spent on rectifying them, which can increase the cost by up to 20%. To reduce these expenses, businesses can implement electronic invoicing, automated invoice processing, streamline their approval process, and track and benchmark their performance using key performance indicators (KPIs) such as cost per invoice, approval cycle, and error rate. By refining their processes further, businesses can ensure ongoing savings and improve the health of their overall invoice processing workflow.