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You can’t manage what you can’t measure. This Webinar reveals the top 5 reports every AP department needs in order to assess its performance. These reports identify impediments to budget, efficiency, and business objectives so they can be corrected, resulting in: faster process cycles, improved data quality and visibility, better compliance and more!

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Invoice Approval Visibility

Monitoring Key Performance Indicators

Providing timely insight to Management

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Calculating Cost per Invoice

The obvious costs:• Salaries• Benefits• Computer Equipment

Not so obvious costs:• Photocopies/faxing/toner• Scanning • Office Supplies• Telephone• Overnight Shipping• Real Estate Occupied• Audit Recovery Fees

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APPROVED INVOICE/AP REVIEW

Historical Invoices

FIRST LEVEL APPROVER

HIGHER LEVEL APPROVER

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Metric Best in Class Laggard

Average Cost Per Invoice $3.34 $16.67

Days to Process 4.1 days 16.3 days

# of Invoices per FTE 5,000 to 8,000 invoices 1,000 invoices

Straight Thru Processing Rate Greater than 70% Less than 12%

Days Payable Outstanding 21 days 34 days

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Reporting Capability Checklist

Ensure your reporting tools bring value and are equipped with the following:

• Graphical interface to monitor relevant KPIs• Access to real-time data• Drill-down capability• Export capability (Excel, Access, etc)• Management level access• Ad-hoc reporting

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