A growing number of organizations are investigating the benefits of streamlining and automating accounts payable (AP) processes. The goals are not surprising: cost reduction, greater speed, and lower error rates. The pioneers, however, are out in front of the pack. They imagine new ways in which they can turbo-charge stakeholder satisfaction through novel benefits that customers will wonder how they ever lived without.
This article features a key performance indicator for accounts payable. It includes the latest AP performance comparisons from APQC’s Open Standards Benchmarking® database and can show you where your organization stands in relation to its peers, helping you identify potential areas for improvement.