THINK YOU’RE AN AP
TOP PERFORMER?

See where you rate with our e-invoicing efficiency calculator.

A lot of things can go wrong from one end of the AP supply chain to the other. Take this 12‑question assessment from Tungsten Network and The Hackett Group to see where things are adding up – or not. Once you’re done, you’ll receive a customized, must-read report showing your strengths – and areas that need improvement.

1.FIRST, SOME INVOICING INTEL.
HERE’S HOW THEY’RE PROCESSED TODAY:

THE OLD WAY
(Received in non-electronic format, and/or requires manual data entry)

  • Scan-based
  • Email-based
  • Fax-based

THE E WAY
(Received in electronic format, enabling automated data entry)

  • Supplier portal
  • Interchange (EDI)
  • Third-party network
  • File upload/self-entry
  • Electronic data

TOP PERFORMERS RECEIVE70OF THEIR INVOICES
ELECTRONICALLY
WHILE PEERS
ONLY RECEIVE
19
ELECTRONICALLY

What percentage of your annual invoice volume is paper based?

What percentage of your invoices are received electronically in a ready-to-process format (i.e. through a portal, supplier, network, EDI, XML, etc.)? Don’t include email attachments or paper invoices.

2.TOP PERFORMERS KNOW THAT
COST PER INVOICE CAN MAKE A BIG DIFFERENCE.

Hover your mouse over each number, to see if you’re on the money.

  • $2.07
  • $3.38
  • $5.17
  • $7.76

MOST EFFECTIVE/TOP PERFORMERS

Invoice is received electronically and processed automatically by AP, without manual intervention

Invoice is received electronically and processed automatically by AP, without manual intervention

Q: What is your estimated cost to process an invoice? Hint: cost per invoice can be estimated by dividing the total annual cost of your entire AP department (all activities) by your annual invoice volume

Which of the following is the most important metric to your AP Department?

3.THE POWER OF SUPPLY BASE CONSOLIDATION:
TOP PERFORMERS KNOW HOW TO USE IT.

80

of invoice volume is concentrated among just 9 of suppliers

80

of spend is concentrated among only 4 of suppliers

4.TOP PERFORMERS
HAVE DISTINCT CHARACTERISTICS.

Hover your mouse over each image

Stakeholder-centricity

Guides setup of improvement projects and day-to-day business decisions through direct feedback from stakeholders.

Process automation

Coupled with technology, eliminates paper and manual work wherever possible.

Information digitalization

Reduces reliance on paper and manual processes. Plus, it makes data more available to purchasing and AP staff.

What percentage of your invoices are scanned/OCR prior to processing?

5.THEY’RE ALSO HIGHLY EFFICIENT, EFFECTIVE AND THOROUGHLY DIGITAL:
they leverage electronic transactions far more than other organizations.

AUTOMATED PURCHASE ORDERS

68 42

Electronic invoices

70 19

SELF-SERVICE INQUIRIES

56 27
Top Performer

Top Performer

Peer

Peer

How are the majority of your invoices processed and matched

6.BOTTOM LINE:
TOP PERFORMERS KNOW HOW TO MAXIMIZE PRODUCTIVITY.

MORE LIKELY TO RESOLVE ACCOUNTS-PAYABLE INQUIRIES THROUGH SELF SERVICE
HIGHER USE OF NO-TOUCH ORDERS
MORE DATA VISIBILITY TO SUPPLIER, CATEGORY AND LINE-ITEM LEVEL DETAIL

How many days does it take, on average, to approve a non-PO invoice for payment?

What's the first-pass match rate for PO-based invoices (either 2 or 3-way matched) processed by AP?

7.WHEN IT COMES TO ON-TIME PAYMENTS,
TOP PERFORMERS ARE ON TOP OF THEIR GAME.

90 ON-TIME PAYMENTS TOP PERFORMERS

Number of payments made on time based on percentage of overall payments.

78 ON-TIME PAYMENTS AVERAGE PERFORMERS (MEDIAN)

What's your on-time payment percentage?

8.JUST A FEW MORE QUESTIONS.

Which of the following best describes your company’s industry?

What’s your annual invoice volume?

What percentage of invoice processing is carried out in a central location?

9.WAIT!
SOME INFORMATION IS MISSING TO CREATE YOUR REPORT.

Please go back and completely fill out the questionnaire.

9.DONE.
THANKS FOR COMPLETING OUR QUESTIONNAIRE!

Tungsten Network, in partnership with The Hackett Group, has compared your information to top quartile AP teams and we’re pleased to provide the following results:

The Processing Cost of an Invoice at

is

To view the full report, please fill out the form below.

We also have some tips to go along with your report, that will help you be a VIP in AP.

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