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AP benchmarking data
March 6, 2023
Q. I have been tasked by senior management to find benchmarking for various KPIs, including paid on time, invoice cycle time, invoice backlog and PO vs. non-PO. Where can I find a clear guide on this? Is there somewhere that tells me what the industry best practice is for these metrics?
A.
(Answered by IOFM's benchmarking specialist)
The latest paid-on-time data is in IOFM's 2022 AP Performance Benchmarking Report.
Regarding Invoice cycle time, we're not sure specifically what you are looking…
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