Purchase to Pay (P2P) Benchmarking
P2PBenchmarking.com can unlock the value of Accounts Payable with actionable insights that allow your finance function to drive process improvements, remove waste, cut costs and optimise use of working capital. Improve your AP agility and financial performance to create a best-in-class Accounts Payable team.
The 7 Key Benefits of P2P Benchmarking
- Gain immediate insight into your financial performance. P2PBenchmarking.com provides reports and feedback that make it easy for users to manage KPIs proactively, spot problems, identify their causes and take action across the Accounts Payable process.
- Benefit from ready-to-go accounts payable best-practice reporting. Arm your function with KPIs from day one to give you increased control.
- Develop a standardized set of processes and metrics The process of undertaking a benchmarking project can encourage organizations to invest resources in standardizing the calculation of metrics and KPIs. Whether it's adopting industry standards or just making sure calculations are standardized across your processes, having a solid baseline for comparison is one of the keys to successful metrics programs and benchmarking projects.
- Enable a mind-set and culture of continuous improvement Providing metrics performance visibility into Accounts Payable allows personnel to understand how their actions impact certain areas of the process. Adding an additional layer to those key performance indicators, showing them how their current performance compares to industry targets or even internal targets, can be an incentive to drive the efficiency and innovation needed to exceed those averages.
- Better understand what makes your AP successful Market leaders are the ones constantly striving to exceed industry benchmarks. Benchmarking can provide a clearer outlook as to where you are versus where you want to be and help you close the gap.
- Access financial insights anytime, anywhere. Our unrivalled usability makes it easy for anyone to benchmark when they need to — and share the results with colleagues.
- Get up and running with ease. Unlike other solutions, P2P Benchmarking does not require extensive calculations or onsite interviews. Finance and purchasing leaders can manage performance measurement to support existing reporting strategies.