- June 19, 2014
- Mary Driscoll and Elizabeth Kaigh
- Member: FREE
Benchmarking financial process performance can reveal attractive opportunities to cut costs, reduce cycle times, and reduce error rates. In many instances, the costly investment in process streamlining and automation is a way to boost performance. But too many organizations stop there.
There will never be 100 percent first-time matching of invoices--inevitably, people will have to go in and fix mistakes. The key is to be able to conduct the manual matching process effectively and efficiently. Ultimately, it pays to invest in sound end-to-end business process management, including regular measurement of process efficiency and analysis of the root causes of quality breakdowns.