Accounts Payable Automation Benchmark Report 2022

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In 2021, most organizations have managed to take their AP process performance ‘from good to great’ by applying AP automation. However, to reach the best performance, AP teams need to work on multiple factors to identify improvement areas, fix issues and fine-tune processes.

This report highlights benchmark data for the most relevant accounts payable process efficiency KPIs presented with an average score as well as that of best-in-class performers. The other findings include:

KPI averages show a stronger performance compared to other industry benchmarks available
All metrics indicate a slow but steady improving trend compared to previous years
The invoice processing cycle time is the metric that notes the most impressive positive development

Read to know more...