Automated Invoice Processing

Goals

To determine the top 3-5 US industries that process the highest average number of transactions.

Early Findings

We were not able to find information about the number of transaction for the different industries in the US other than the retail industry despite going through several industry and governmental reports. As such, we worked with the assumption that the biggest industries in terms of sales must also process a high number of transactions.

Real Estate

Professional and business services

State and Local Government

Financial Services

Healthcare and Social Assistance


Transaction volumes from the Retail industry

  • A single retailer in the US and Canada processes about 429.4 transaction per month.
  • Retailers selling Alcohol generated the highest number of transactions per month, at 963.1.
  • The beverages and specialty food stores generated 806.8 and 589.7 transaction per month respectively.
  • At the lower end, Furniture, jewelry and Shoes retailers generated the least amount of transactions, with a monthly count of 151.9, 190.1, and 220.8 respectively.

Proposed next steps:

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