Benchmarking Your Accounts Payable Function

Any accounts payable department that wishes to improve must be able to measure its performance against its peers. This is a lot more difficult than it might appear at first glance. In this session, we'll examine the reasons for benchmarking in accounts payable, how to get started in the process and how to use the results to drive efficiency in your accounts payable process. Some common metrics will be discussed and evaluated. We’ll also examine some of the common mistakes companies make when benchmarking their accounts payable process.

Objectives of the Presentation
After this session you will be able to:

• Start an effective benchmarking program for your AP function
• Meet the challenges involved with benchmarking
• Identify those items that realistically can and should be measured
• Pinpoint the pitfalls you need to avoid when benchmarking in order to have an effective process

Why Should you Attend
Any organization that wants to improve has got to be able to measure its performance. This session will help you do just that for your accounts payable function.

Areas Covered

• How to start a Benchmarking AP process
• Pitfalls to avoid when benchmarking
• What data you should look at
• Invoice data
• Payments data

Who will Benefit

• Accounts payable titles
• Purchasing titles
• Controller
• Accounting Managers