"If you aren't living on the edge, you're taking up too much room."
This quote caught my attention the other day. I can't recall the source. But as I interpret it for the accounts payable function, it means that those who refuse to transform the accounts payable function may be consuming too much overhead.
The cost differential for low performing AP organizations and high performers is startling. One metric commonly used is annual number of invoices processed per FTE. Low performers are below 10,000. Top performers are north of 40,000.
Where do you fall?
There are so many useful metrics that you can use to guide an initiative to improve the AP function. For those interested in learning more about them, this month's webinar is for you.
We're pleased to be featuring Kurt Albertson from The Hackett Group on our September 22 webinar: Build Your Business Case for Procure-to-Pay Automation. Be sure to join us on Thursday, September 22, 2pm EDT / 11am PDT.
For more information about the webinar or to register, simply click on the link above. If there are certain metrics that you have found valuable, or would like to learn more about, please let me know.