In this report we’ve gathered the most important accounts payable efficiency KPIs as well as real-life benchmark figures so that you can compare your AP process performance with your peers.
New to AP? Don’t worry, the report includes a step-by-step guide to the accounts payable process, how to measure efficiency in each step and best practice tips to improve performance.
Why accounts payable KPIs matter
Accounts payable is so much more than processing supplier invoices and payments.
With the right tools and data in place businesses can leverage AP to detect and prevent fraud, identify anomalies to mitigate risk, actively manage cash flow positions and capture opportunities for bottom line savings.
In this report we give AP teams a piece of the puzzle. The AP process KPIs and benchmarks represent an excellent tool for businesses who want to improve their invoice to pay process. And as a result, regain control of spend and minimize risk.
The KPIs all AP teams should measure
The KPIs will be different depending on if you’re handling a PO (purchase order) based invoice or a non-PO (expense) invoice. Hence, it’s important to look at these processes separately.
In the report you’ll get a thorough walk-through of both processes – for each step we guide you through what happens, how to measure performance, and tactics to improve efficiency. Use the links below to discover the KPIs for each process.
The KPIs for PO invoice processing
The KPIs for non-PO invoice processing
Hear from best-in-class AP teams
Rejmes Bil is a Swedish Volvo car dealer with a strong focus on customer satisfaction, process efficiency and continuous improvement in all parts of the company.
Average Approval Time
What gets measured, gets done! We track handling time per user and present the results to our management team so that everyone understands how a lengthy process affects the entire organization. Thanks to Medius AP Automation, there is no longer any excuse for late approvals.
Niklas Johansson, CFO, Rejmes Personvagnar AB
Access your copy of the report
Regardless of the maturity level of your current accounts payable process, this report is an excellent tool to help you get started – or accelerate – the improvement efforts needed to set you on track for those best-in-class performance levels. Get your copy today!