Percentage of invoices processed error free the first time

This measure calculates the percentage of invoices processed error free the first time. 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. A first-time error-free activity is one that is finalized with no follow-up effort at all required for adjustments or corrections. This measure is part of a set of Process Efficiency measures that help companies optimize their "invoice customer" process—which involves preparing detailed reports of customer purchases and commercial documents between sellers and customers—by minimizing waste and refining resource consumption.