Measuring the Success of Accounts Payable: Tracking the Critical KPIs
The old adage is true: if you don’t measure it, you can’t improve it. Measuring success in accounts payable can be deceptively complex. Just because vendor invoices are getting paid doesn’t mean that your AP process is optimized for efficiency and value. Determining if your AP process is as successful as it could be requires monitoring some key performance indicators (KPIs), each uniquely weighted to reflect what matters most for your business.
This whitepaper highlights the importance of key accounts payable KPIs like:
- Accounts Payable Cost per Invoice
- Average time to Approve Invoice
- % Spend by Payment Methods
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The ‘Defining Modern Accounts Payable’ survey compiles responses from hundreds of account payable professionals across industries and seniority levels. The purpose of this report is to determine what constitutes a Modern AP Process and compare performance of Modern AP Processes to Non-modern AP Processes.View Whitepaper