Overview

Driving Success in P2P Operations Using KPIs

By Brian Rosenberg Many procure to pay operations use metrics to measure the success of their operations, but not all of these organizations fully leverage this information to drive process improvement and show tangible results from using those measurements.  Achieving success in Procure to Pay operations involves not only measuring the right information, but also… Read more »

Measure to Manage:  How Cameron’s AP Department Uses Metrics to Achieve Best-in-Class Performance

Metrics are vital for effective performance management in accounts payable. But determining which metrics to use and how often to track them can be overwhelming. To uncover a successful approach for applying AP metrics, the AP & P2P Network interviewed Chris Dritsas, Accounts Payable Manager for the North & South America Finance Service Center of... Read more »
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Noncompliant Internal Customers? Metrics Are Worth a Thousand Words

It is tough enough for AP to stay on top of the problems created by vendors who send incorrect invoices, send too many copies of the same invoice, or send invoices to recipients all over the organization (to everyone except AP). But the challenges don’t end there. There are many issues that are created right... Read more »
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What Is the Purpose of Benchmarking?

By Chris Doxey Benchmarking is a tool for assessing and comparing performance in order to achieve continuous improvement. It is part of a total quality management process, and includes the following key elements: Focuses on processes rather than outcomes; Encourages information sharing; and Implies a willingness to change and a desire to implement best practices.... Read more »
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A Cost Justification for a Vendor Portal

Responding to basic supplier inquiries, such as payment status and answering suppliers’ calls and e-mails, can take as much as 24 percent of a staff member’s time, reports invoice.info.com in its report, Vendor Self-Service Portals: A Win-Win for Both AP Departments and Vendors. Implementing technology that can replace or minimize vendor inquiries can cut costs... Read more »
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Accounts Payable Benchmark Report eBook

Getting ahead starts with knowing where you stand. Accounts payable experts agree: better AP performance begins with automating clerical tasks to free up time for strategic ones. But with so many different tools, techniques and technologies under the umbrella of automation, where should your company start? The free e-book The State of Accounts Payable can… Read more »

Which Metrics Count Most in Measuring Performance?

  By Pam Miller, APMD A metrics program provides valuable information to help manage your AP department effectively. The challenge lies in determining how many metrics should be kept—and which ones. This review will help you to launch a metrics program, validate what you are currently doing, or get your existing program back on track…. Read more »

How to Customize Your KPIs

Organizations may differ regarding what is most important in achieving AP’s strategic objectives, but the methods they use to determine their metrics and key performance indicators (KPIs) are similar. “Metrics identify the current status of performance in the AP operation. They help set improvement goals and track progress toward those goals,” says Bob Sefton, Controller,... Read more »
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Use Benchmarking to Achieve Continuous Improvement

Benchmarking against past performance not only measures improvement, but can also provide results that are reliable and meaningful. It offers a tool by which to measure and strive for continuous improvement. There is probably no better way to compare your performance against that of another organization, or against your own historical performance. In fact, 50… Read more »