Accounts Payable Benchmarks for 2016

Accounts Payable Benchmarks for 2016

It can be difficult to understand exactly what makes a strong performing accounts payable team. Company goals are an obvious critical measure of success, but how can you know if these goals are above or below your team's capacity to produce? What is the realistic measure of a job well done in accounts payable today, and how does your team stack up to other companies and key industry benchmarks for efficiency and productivity when it comes to invoice processing and payments?

Based on the results of a recent Ardent Partners study, ePayables 2015: Higher Ground, Certify created an easy-to-read infographic to help you identify the key performance indicators for accounts payable invoice processing. Easily compare your current AP processes, performance metrics, pain points and strategic objectives to those of other companies. Leveraging data from the study with results from more than 175 accounts payable and financial professionals, this new infographic also provides quick look at key accounts payable benchmarks including:
  • Overhead costs and turnaround times to process a single invoice
  • Percent of suppliers submitting electronic invoices versus paper
  • Common accounts payable invoice technologies currently in use
  • Invoice exception rates, "straight through" processing and more
You'll also see the breakdown of companies receiving and processing paper-based AP invoices versus those that are using automated features. If you're frustrated with your current accounts payable invoice process, considering a switch to automation or just interested to see how your systems measure up, take a look at the full infographic below.

Looking for a solution to your AP invoice challenges? To see how Certify can streamline process and help you achieve all your AP invoice goals, check out the new Certify Invoice or sign up for an open product demonstration today.


Accounts Payable Benchmarks for 2016