Benchmarking - Measure your AP Performance

Before you make any changes to your processes, it’s crucial to know how your performance compares to your peers. The content in this section includes both measurement process and principles -- why measure, what to measure and how to measure – as well as our latest data. IOFM Members must log in to access these exclusive reports. 

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IOFM's 2020 Efficiency Benchmarks Report

The first step in making the business case for any improvement is measuring current performance and gauging how much of an improvement is realistic. IOFM's latest benchmarking report enables you to compare your department to others AP functions with similar levels of automation and organizational structures.

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IOFM's 2020 Effectiveness Benchmarks Report

High-performing AP teams aren’t just focused on paying invoices quickly. The key to their success is to striking a balance between efficiency and ensuring accurate payments. This report provides the key quality measures necessary to keep your standards high throughout your performance improvement journey.

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IOFM's 2020 Key Takeaways from Top Performing AP Teams

IOFM provided key performance benchmarks designed to enable comparison between your team’s efficiency and effectiveness versus that of your peers’. But, knowing how you stack up is only half the battle. The key to managing a world-class AP team is learning from those organizations that are outperforming you. This report identifies what top performing peers are doing that you can adopt and adapt for your team. 

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Q. I am looking for information the topic of Vendor Maintenance Management Benchmarking. Can you please point me to the relevant resources provide… Read More
Q. I've been using the AP Benchmarking documents, and would love to have the same kind of content for Procurement. What are some common metrics to… Read More
Over the past year, the pandemic transformed Accounts Payable practices, procedures, workplaces, interactions, and team relationships. Yet despite… Read More

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