Process & Principles

Days payable outstanding (DPO) is an efficiency ratio that measures the average number of days a company takes to pay its suppliers. It is important because it is a key component in a company's… Read More

Why a Flowchart? - A flowchart is a diagram of the flow of data, process and operations within an organization or business management system. During most of our daily activity we rely on our visual… Read More

Briggs & Stratton Corporation, headquartered in Milwaukee, Wisconsin, is the world’s largest producer of gasoline engines for outdoor power equipment. To ensure that the shared services department… Read More

Days payables outstanding (DPO) is a measurement that many executives, auditors, and consultants use to measure the efficiency of accounts payable departments. It is an important metric used in… Read More

We hear a lot of talk about “best practices,” but how are those defined, and how can that information be made useful? How can you apply them to your own operation, even though it isn’t exactly… Read More

We sat down with IOFM’s Executive Editor Jess Scheer to get his perspective on benchmarking, a topic near and dear to his heart. He’s been involved with the process throughout his career, using… Read More

Traditional benchmarking was a long and labor-intensive process, involving thorough self-analysis and process mapping, identifying best-in-class companies, soliciting information from them, and then… Read More

Financial operations professionals seeking effective ways to achieve improvement in terms of accurate and speedy vendor payments, error-free transactions, and value-added vendor relationships would… Read More

The Insider asked four IOFM Advisory Panelists what they will do with the insights they have gained from the IOFM Benchmarking Reports. What They Told Us Bilyana Gavrilova, Shared Services Manager,… Read More

By Brian Rosenberg

Many procure to pay operations use metrics to measure the success of their operations, but not all of these organizations fully leverage this information to drive process

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