“Key AP Benchmarks” study focuses on invoice processing costs, AP productivity and more. Click here to get your complimentary copy now!

Accounts payable is in transition. What was once a clerical and paper-based bill-pay function is evolving to a lower-cost, more efficient automated process that will also provide greater visibility and control, permit value-added analysis of spend, and improve forecasting and cash-flow management.

This study confirms that the more automated a company’s AP department is, the lower the cost to process invoices and the greater the number of invoices processed per FTE. The TAPN study also shows that the best-performing companies achieve their results by implementing a number of technologies such as workflow, front-end scanning, e-invoicing, P-card usage, and travel and entertainment expense (T&E) reporting and processing automation. They also continue to operate the older technologies such as EDI, while increasing the usage of newer ones such as Web Portals and EIPP.

Receive your complimentary copy of the Key Accounts Payable Benchmarks Study and compare your invoice processing costs, technology improvements and AP productivity to those of other AP departments.

This information-packed benchmark study reveals:

• Total costs to process an invoice can reach as low as $1.77, depending on the level of automation, company size, industry and other factors.
• Use of purchase orders: The median percentage of invoices that are for purchases made with a purchase order is 50 percent. There is some variation according to company size, but the real distinctions in the use of purchase orders show up by industry rather than by size.
• The accounts payable functions that are outsourced most often are AP audit and recovery; and freight, telecommunications and utility bill audit and payment.
• The most widely used ERP/accounting systems identified by the respondents of the survey were SAP, Oracle and Peoplesoft (Oracle).
• Detailed metrics and analysis and more!

This study shows that the key to more cost effective and efficient invoice processing is automation. Whether you process all paper invoices manually or are gearing up for a paperless environment, this benchmark study will help you evaluate how your organization compares to others by company size and by industry.

This valuable study is available at no charge for a limited time. Get your copy today!

About The Accounts Payable Network

The Accounts Payable Network (TAPN), the complete resource for accounts payable, has helped more than 36,000 accounting and finance executives at organizations worldwide meet their commitments to accounts payable business process performance.

Focus areas include all AP functions, AP metrics and benchmarking; tax and regulatory compliance; proven solutions to real-world problems; AP automation; case studies; member Q&A networking forums and more than 250 downloadable, customizable AP policies, flowcharts, templates and internal-control checklists.

TAPN’s highly popular AP tools help compare technologies and AP solution providers, find new ways to streamline operations and enhance controls, and take advantage of extensive educational opportunities. Additional networking opportunities allow members to share problems and solutions with peers “in the trenches” through the public and private forums and discussion groups.

The Accounts Payable Network is completely independent and is not owned by or affiliated with any industry supplier. For further information, please contact The Accounts Payable Network, 2100 RiverEdge Parkway, Suite 380, Atlanta, GA 30328, 770-984-1184, www.TheAccountsPayableNetwork.com.

Don’t miss out on this limited-time offer to compare your AP metrics with other AP departments.

Receive your no-cost copy of Key Accounts Payable Benchmarks now.

Are you AP certified? This report qualifies for 2 CEUs for the IOMA/TAPN Accounts Payable Certification Programs.