Process & Principles

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Q.  I am currently assessing the success of our virtual card payment program and am looking for… Read More
Q. Are there any companies out there who will do a dep dive into a particular industry to compile… Read More

Traditional benchmarking was a lengthy process that might take nine months or more, and generally required multiple in-person site visits. By the time the study was complete, the organization’s

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Traditional benchmarking was a lengthy process that might take nine months or more, and generally required multiple in-person site visits. By the time the study was complete, the organization’s… Read More
If your organization is planning on benchmarking its processes and procedures–or is simply exploring the idea of doing so–it is critical to approach the effort thoughtfully, so that your… Read More

Q. (cont.) 

Our department has a customer service person. She responds to vendor phone calls

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William Stamper, an accounts payable manager at Teleflex, Inc. headquartered in Durham, NC, is a big believer in benchmarking. "We like to know where we are, see where we are going, and plan for… Read More
By Chris Doxey Benchmarking is a tool for assessing and comparing performance in order to achieve continuous improvement. It is part of a total quality management process, and includes the following… Read More
Even when processes seem to be running smoothly in accounts payable and other finance functions, there’s always room for improvement. “Process improvement is important for so many reasons,”… Read More

Q. (cont.) Or do they only measure payment performance on a vendor level as well? If they do

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Q. (cont.) ... and I'm helping him to confirm the way other company calculate the YTD days payable

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