Cycle time in days to resolve an invoice error
This measure calculates the number of calendar days (including weekends) it takes to resolve a detected invoice error. It is a Cycle Time measure that helps companies analyze the duration of the "process accounts payable (AP)" process from beginning to end.
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- 75th
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Indicator:
Compute this Measure
Units for this measure are days.
Cycle time in calendar days from discovering an invoice error to its resolution
Key Terms
Cycle Time
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.
Invoice
An invoice is a bill prepared by a seller of goods or services and submitted to the buyer. Generally, an invoice contains all pertinent information about the transaction including the date, price, quantity, item number, and credit terms. An invoice can be in either electronic or hard copy form.