SOURCE: PayStream Advisors

PayStream Advisors

July 01, 2013 10:37 ET

PayStream Advisors Announces Cost per Invoice Calculator

Online Tool Helps Accounts Payable (AP) Professionals Answer One of the Most Critical Key Performance Indicators to AP Operational Success

CHARLOTTE, NC--(Marketwired - Jul 1, 2013) -  PayStream Advisors, Inc., a leading independent research and advisory firm, today announced availability of its Cost per Invoice Calculator, an online tool designed to help AP managers evaluate what is one of the most important metrics for operational success.

"Our research shows that as many as two in three AP managers don't know how much it costs their company to process an invoice," said Henry Ijams, managing director, PayStream Advisors. "Yet, without this vital metric it is very difficult to determine the success for AP operations. Every AP manager should know their cost per invoice and have a detailed action plan to improve efficiency to drive this cost down."

Cost per Invoice is among the most common metric used to determine the efficiency of an AP organization. The growing problem is that more companies are leveraging third party resources to manage the tactical parts of invoice processing -- opening the mail, scanning the invoices and entering the data. As such it can be difficult to truly arrive at the real Cost per Invoice calculation.

With the PayStream Advisors Cost per Invoice Calculator, any AP manager can easily arrive at this important key performance indicator by simply entering important values for the people involved at each step of the process, the time they devote to each activity and the volume and type of invoices that are received each month.

Once AP managers have arrived at their cost per invoice figure, it is also valuable to know how it may compare to the industry average. PayStream Advisors has developed an Invoice and Workflow Automation Adoption report to determine what the average cost to process an invoice is. This report has found that the average cost to process an invoice for mid-market organizations, with revenues between $500 million and $2.5 billion, is $10.02. 

About PayStream Advisors
PayStream Advisors provides in-depth research, reviews and comparisons of top accounts payable and purchase to pay automation software. Offering research and insight to help companies improve AP efficiency, PayStream Advisors also hosts the annual Purchase to Pay Summit, INNOVATE '13, where accounts payable, finance and procurement leaders gather to share ways to advance purchase to pay processes through collaboration and automation. For more information please visit:

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