The Average Time to Approve an Invoice from Receipt to Payment

We are half-way through our 8 part series entitled “What Gets Measured, Gets Improved.” In this series we are discussing 8 KPI’s in the Accounting / Finance world in order to get clear measurements of what’s going on now in order to move forward with any strategic initiative…like AP automation.

Let’s summarize 1 – 3:

1. Number of Invoices Processed Per Person / Per ...

Exception Invoices as a Percentage of Total Invoices

Our 8 part series discusses the importance of identifying Key Performance Indicators in Accounts Payable.  But why this topic? We address this topic because after all, “What Gets measured Gets Improved.”

However, oftentimes we get so hung up on metrics and measuring things to the point that we sometimes lose track of measuring what really matters.  There’s another saying, “Not everything that counts can be counted, ...

8 Key Performance Indicators in Accounts Payable

We recently began a series entitled “What Gets Measured Gets Improved.” We discussed the importance of metrics or Key Performance Indicators in order to make improvements—actual, tangible improvements. In fact, the accounts payable process is no different. We started our series by listing the 1^st KPI in the Accounting/Finance world: Number of Invoices Per Person / Per Day. In ...

8 Key Performance Indicators in Accounts Payable

There’s an old saying, “What gets measured gets done,” or as many of you have heard, “what gets measured gets Improved.” Oftentimes we get so hung up on metrics and measuring things to the point that we sometimes lose track of measuring what really matters; however, we should be very careful about what gets measured. This reminds me of another old saying, “Not everything that counts ...

Did You Know?

Did you know that a typical 10,000 employee company handles more than one million employee-related transactions a year at a cost of between $10 and $50 per transaction?

Source: ASUG/SAP Benchmark Study, “Human Capital Management: How Top Organizations Drive Company Profits Efficiently”

Let’s look at a very common scenario in the retail industry:

Let’s take a very common scenario in the retail industry: a local store manager compiles and mails his ...

Did You Know?

In a recent survey of over 300 AP professionals, 47% considered manual data entry & inefficient processes as their biggest AP challenge.

Source: PayStream Advisors, “Data Capture of Accounts Payable”

Powered by IBM’s FileNet and Datacap technologies, our user-friendly applications help enable AP professionals to stream line their AP processes, eliminate data entry and increase efficiency.

Driving Profitability in a Traditional Cost Center:
the AP Department

According to the Aberdeen Group report, “AP Automation and Strategic Vision,” financial services executives surveyed cited 2 of their top 5 drivers compelling them to undertake payment automation as:

Powered by IBM’s FileNet and Datacap technologies, our user-friendly applications help financial services executives
capure early payment discounts and shorten the supplier payment ...

Mitigate Uncertainty On Both Sides

By providing this level of visibility into the AP process, organizations give their vendors the ability to confidently forecast the amount and timing of each payment they are expecting. Concurrently, the company’s AP department gains a consistent, predictable revenue stream from the money saved by capturing the vendor’s discount offers. There are no hidden fees or administration hassles, and ...

Trends Driving Payments Today

Interest rates have remained near zero for the last five years, causing organizations to look to new and different opportunities. In response to these market trends, a new approach to early payment discounting – known as dynamic discounting has arisen. This challenge is paired with the opportunities that have arisen from the explosive growth of digital business networks, causing the pace ...