One of the greatest pains for accounts payable is the processing, approving, and paying of supplier invoices. One metric many companies are measuring their effectiveness and efficiency around is the “cost per invoice.” Analysts such as Aberdeen Group and Paystream Advisors have discussed best-in-class cost-per-invoice metrics as $5 or lower. However the industry range for invoice processing is fairly broad – anywhere from $5 to $15-20 per invoice – with most companies at about $12.
This calculator helps you understand where your organization is in terms of its own productivity related to invoice processing and payment.
If you’re interested in streamlining invoice processing, contact us today to learn how we can help.