Benchmarking - Metric of the Month

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Benchmarking your performance against your peers is a crucial first step in any improvement efforts – no matter if you’re addressing your team’s training, processes or automation. After all, you can’t know where to concentrate your energies if you don’t know where there’s the most opportunity for more efficient or effective performance.

 

At the beginning of each month, IOFM will post a crucial AP metric to enable you to measure yourself against the profession's best. Bookmark this page and make a note to return again and again.

The recent pandemic-related thinning of the AP workforce, due to both voluntary departures and staff reductions due to decreased business, has resulted in remaining AP staff working longer hours.

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Skill-siloing in accounts payable is a long-standing issue within many organizations. In a new IOFM white paper, “Employee Burnout and What You Can Do About It,” we surveyed AP

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Retaining staff can be challenging in the best of times, but add in pandemic burnout and long hours, and that challenge is multiplied. IOFM’s latest survey, “Great AP Places to

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As IOFM reported last month, more than half of all AP managers and directors are reporting feeling burned out. Burnout is a significant factor in driving staff members to leave their AP departments,

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If the recent pandemic has left you feeling burned out, you’re not alone. A recent IOFM survey on staff engagement reveals that nearly 60% of AP managers are burned out — almost

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As organizations see their business rebound as the pandemic winds down, their invoice volumes are increasing significantly. How is AP responding to the greater workload, given all the staff

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AP departments’ processes influence operational efficiency, every bit as much as automation. When improving your performance, it’s important to evaluate whether there is a mandated

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IOFM’s 2021 benchmarking survey revealed that overall, more than half of organizations that bought automation solutions in the last couple of years are already looking to replace them.

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Metric of the Month: The Aging Workforce

According to recent IOFM benchmarking data, many organizations are dealing with AP teams approaching retirement age. In the coming five-year period,

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Metric of the Month: Invoices on the Rise

The number and size of invoices have climbed for the vast majority of AP teams for the third consecutive quarter, a recent IOFM poll revealed. Every new

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