Accounts payable automation: the 10 essential KPIs

         Automating accounts payable is a major issue for companies looking to optimise their Source-to-Pay (S2P) process. This solution reduces costs, improves efficiency and optimises processes, making it particularly attractive for companies seeking to become more competitive.

         To understand the benefits of automating accounts payable, it is important to analyse the key KPIs (Key Performance Indicators) used to assess the efficiency of this process.

         First, cost reduction is a major issue for companies. According to one study, companies that automate their accounts payable can reduce invoice processing costs by up to 80%. This cost reduction is made possible by eliminating human error and reducing the time needed to process invoices.

         Next, automating accounts payable saves time. This solution processes invoices faster, reducing processing time and increasing team productivity. According to another study, automating accounts payable cuts invoice processing time by 40% on average.

         In addition, automating accounts payable improves data quality. With human error eliminated, data is more reliable and accurate, reducing the risk of mistakes and enabling better-informed decisions.

         This solution also makes communication with suppliers easier by giving them real-time access to the status of their invoices. This reduces payment times and improves supplier relationships.

         Automating accounts payable is an essential solution for companies looking to optimise their Source-to-Pay (S2P) process. By taking into account key KPIs such as cost reduction, time savings, improved data quality and communication with suppliers, companies can benefit from an efficient and competitive solution for their accounts payable.

Our SEMS solution, a procurement management software covering the Source-to-Pay (S2P) process, is a turnkey solution for automating your accounts payable.