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.

IOFM benchmarking data indicates there has been a steady increase in electronic invoice submittals over the past three years. With many finance teams still working from home, we can expect that trend… Read More
How an AP team is structured has a strong correlation with productivity. This data, derived from IOFM’s most recent benchmarking survey, shows the correlation between how centralized an… Read More
2020 brought us more than a pandemic—it brought us significantly increased levels of AP automation. We expect to see that number continue to climb in 2021, as AP departments that had previously… Read More

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