Setting and Tracking Goals – Moving From Ordinary to Extraordinary

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crop.WF_454744_IOFM19_Goby_Whitepaper_mockup_HR.jpg.small-400px-square.400x400.jpegLearn how to transform your operation from ordinary to extraordinary

  • A low average cost to process a single invoice.
  • More than 23,000 invoices processed annually per full-time equivalent.  
  • A duplicate invoice rate of less than 1 percent. 
  • An on-time payment rate of more than 96 percent. 
  • An early-payment discount capture rate of more than 85 percent.

For many accounts-payable leaders, these best-in-class benchmarks may seem like science fiction.  But best-in-class accounts payable departments are achieving these metrics – and their peers at other accounts payable departments will face increased pressure to find ways to close the performance gap. 

Improving processes and automating manual tasks is a top goal of accounts payable departments.

But making those objectives a reality – and reducing costs, increasing staff productivity, eliminating errors, paying more suppliers on-time, and capturing more early-payment discounts, as examples – seems out of reach for many accounts payable departments. 

What does it take for an accounts payable department to achieve its goals for process improvement and move beyond a tactical back-office function?

IOFM’s latest paper, sponsored by Goby, offers a road map for setting and achieving goals for process improvement.

With the strategies outlined in this paper, you can transform your department from ordinary to extraordinary. 


Continuing Education Credits available:

Receive 1 CEU towards IOFM programs:

AP CertificationPP-OC_seal_APP_outline.FNLReceive 1 CEU towards maintaining any AP and P2P related program through IOFM! These programs are designed to establish standards for the profession and recognize accounts payable and procure-to-pay professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the financial operations body of knowledge.

Continuing Education Credits available:

Receive 1 CEU towards IOFM programs:

AR-certFinal-AOCReceive 1 CEU towards maintaining any AR and O2C related program through IOFM! These programs are designed to establish standards for the profession and recognize accounts payable and procure-to-pay professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the financial operations body of knowledge.

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