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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.
Featured Content
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.
Featured Content
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.
Featured Content
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.
All Resources
Latest
We sat down with IOFM’s Executive Editor Jess Scheer to get his perspective on benchmarking, a topic near and dear to his heart. He’s been… Read More
AP teams may soon find themselves stretched thin – needing to hire staff or further invest in automation to handle an uptick in demand, according… Read More
Traditional benchmarking was a long and labor-intensive process, involving thorough self-analysis and process mapping, identifying best-in-class… Read More
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