This measure calculates the number of days required to pay suppliers from the time a purchase order is placed until the time payment is complete. It is part of a set of Cycle Time measures that help companies analyze the duration of the process "procure materials and services" from beginning to end.
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Average procure-to-pay cycle time in days for goods
Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.