Ardent Partners: The State of ePayables 2019: The State of Accounts Payable
Best-in-class accounts payable organizations leverage the advantages of electronic and automated processes to be more efficient and competitive.
What the report covers:
Best-in-Class Accounts Payable (AP) organizations have blazed the trail for all other groups by showing what is possible when a department operates at full potential. Leading enterprises have significant performance advantages when compared with their peers. Lower per-invoice processing costs, faster invoice processing times, and lower invoice exception rates to name a few.
Chapter Three, ‘Best-in-Class Accounts Payable’ of the Ardent Partners’ State of ePayables 2019, provides a profile of Best-in-Class performers and their distinguishing characteristics and strategies. According to the whitepaper, Best-in-Class organization:
- Spend $2.18 to process a single invoice. All others: $12.60.
- Take 9 days to process a single invoice. All others: 10.8 days.
- Have an invoice exception rate of 1%. All others: 23.3%