4 KPIs Set Good Accounts Payable Organizations Apart

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A core finance process, accounts payable (AP) involves all of the essential activities of an organization to pay its suppliers. As one of the primary organizational candidates for early automation, AP is ripe for innovation through process improvement and automation. These improvements can liberate AP professionals from transactional tasks in order to best make use of their valuable time.

Reflecting this potential, top-performing AP functions have standardized, largely automated processes that elevate the finance function with more efficient and analytical performance. APQC has found how such top performers have achieved this.

APQC’s recently released Blueprint for Success: Accounts Payable (Second Edition) provides a framework for improving AP processes, automating tasks, and providing AP staff with the bandwidth and training to focus on malta mobile numbers list the most strategic activities. APQC has published this second edition of the Blueprint with updated benchmarking data from APQC’s extensive Open Standards Benchmarking® research in accounts payable and expense reimbursement.

4 KPIs Set Good Accounts Payable Organizations Apart

This Blueprint presents a process-based framework for evaluating and improving AP processes using core key performance indicators (KPIs) that every organization can use to benchmark their AP processes. The following core KPIs, recommended by APQC, encompass cost, productivity, efficiency, and cycle time metrics:

1. Costs—A prime concern at all organizations, cost KPIs are the most traditional process performance measures. APQC suggests anchoring cost metrics with the KPI of total cost to perform the AP process per invoice processed. This includes personnel, systems, overhead, and third-party vendors. APQC finds that AP costs for top performers is one-fifth of what it is for organizations performing in the bottom quartile. And even organizations with median performance are incurring twice the costs of top performers.

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