SOURCE: The Accounts Payable Network

The Accounts Payable Network,

December 17, 2009 17:02 ET

Key AP Benchmarks Study Focuses on Invoice Processing Costs, AP Productivity

ATLANTA, GA--(Marketwire - December 17, 2009) - The Accounts Payable Network (TAPN) today announced the release of a key benchmark study focusing on accounts payable invoice processing costs and productivity.

"Accounts payable is in transition. What was once a clerical and paper-based bill-pay function is evolving to a lower-cost, more efficient automated process that will also provide greater visibility and control, permit value-added analysis of spend, and improve forecasting and cash-flow management," said Rob Rogers, Vice President and Managing Editor of The Accounts Payable Network.

This study confirms that the more automated a company's AP department is, the lower the cost to process invoices and the greater the number of invoices processed per FTE. It also shows that for large, highly automated companies, per-invoice processing costs continue to decline, while the costs for smaller, less automated companies are increasing. The TAPN study also shows that the best-performing companies achieve their results by implementing a number of technologies such as workflow, front-end scanning, e-invoicing, P-card usage, and travel and entertainment expense (T&E) automation. They also continue to operate the older technologies such as EDI, while increasing the usage of newer ones such as Web Portals and EIPP.

"Enterprise organizations are recognizing that automating invoice processing and A/P functions reduces costs and increases efficiency, benefits this study further validates," said Andrew Pery, Chief Marketing Officer at Kofax, which sponsored the report. "By automating document driven A/P processes, organizations can significantly improve productivity and generate a fast ROI."

Receive a complimentary copy of the Key Accounts Payable Benchmarks Study.

Among the study's findings are:

--  Total costs to process an invoice can reach as low as $1.77, depending
    on the level of automation, company size, industry and other factors.
--  Use of purchase orders:  The median percentage of invoices that are
    for purchases made with a purchase order is 50 percent.  There is some
    variation according to company size, but the real distinctions in the use
    of purchase orders show up by industry rather than by size.
--  The accounts payable functions that are most commonly outsourced are
    AP audit and recovery; and freight, telecommunications and utility bill
    audit and payment.
--  The most widely used ERP/accounting systems identified by the
    respondents of the survey were SAP, Oracle and Peoplesoft (Oracle).
--  Detailed metrics, analysis and much, much more!

This study shows that the key to more cost-effective and efficient invoice processing is automation. Whether you process all paper invoices manually or are gearing up for a paperless environment, this benchmark study will help you evaluate how your organization compares to others by company size and by industry.

The study is available at no charge for a limited time. Click here to get your copy today!

About The Accounts Payable Network

The Accounts Payable Network (TAPN) is the complete resource for accounts payable, helping more than 36,000 accounting and finance executives at organizations worldwide meet their commitments to accounts payable business process performance.

TAPN provides -- in one easy-to-access, cost-effective, online location -- insights, analysis, guidance, advice and best practices for AP strategies, technologies, controls, compliance, people and processes. Members have unrestricted access to critical information guaranteed to help them make smart accounts payable business decisions.

Focus areas include all AP functions, AP metrics and benchmarking; tax and regulatory compliance; proven solutions to real-world problems; AP automation; case studies; member Q&A networking forums and more than 250 downloadable, customizable AP policies, flowcharts, templates and internal-control checklists.

TAPN's highly popular AP tools help compare technologies and AP solution providers, find new ways to streamline operations and enhance controls, and take advantage of extensive educational opportunities. Additional networking opportunities allow members to share problems and solutions with peers "in the trenches" through the public and private forums and discussion groups.

The Accounts Payable Network is completely independent and is not owned by or affiliated with any industry supplier. For further information, please contact The Accounts Payable Network, 2100 RiverEdge Parkway, Suite 380, Atlanta, GA 30328, 770-984-1184,

About Kofax

Kofax plc (LSE: KFX) is the leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 1000 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit

Don't miss out on this limited-time offer to compare your AP metrics with other AP departments. Click here to receive your no-cost copy of Key Accounts Payable Benchmarks now.

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