AP managers already know that decreasing costs is a critical part of their overall success; what they really need is a list of concrete actions they can take to transform their organizations.
Charlotte, NC (PRWEB) April 29, 2015
Independent research and advisory firm PayStream Advisors today announced the release of its updated Cost Per Invoice Calculator for Accounts Payable (AP) professionals. Cost Per Invoice (CPI) is a simple but powerful metric used to determine the efficiency of an organization’s AP department. PayStream’s online calculator now includes a complimentary Purchase-to-Pay benchmark diagnostic and a customized action plan for controllers and finance managers to lower costs.
“AP automation and process improvement have evolved quickly, creating an efficiency gap for many organizations,” noted Henry Ijams, managing director and lead analyst at PayStream Advisors. “AP managers already know that decreasing costs is a critical part of their overall success; what they really need is a list of concrete actions they can take to transform their organizations.” The most successful managers have effectively leveraged new technology to convert their AP departments into profit centers.
PayStream’s CPI calculator provides a simple scoring mechanism for AP managers to evaluate their department’s performance. Calculating an accurate CPI is an important first step for organizations hoping to streamline procedures and strengthen competitive advantage, but it's just the beginning of a long-term plan for excellence. The new CPI calculator—complete with process and technology recommendations—can be obtained here.
About PayStream Advisors: PayStream Advisors is a research and advisory firm that delivers first-rate industry research on office-process automation to finance and procurement professionals. PayStream’s analysts provide research-based, unbiased educational content to challenge readers’ thinking, inform them about marketplace trends, and empower them to transform their organizations. They understand the needs of finance professionals, developing targeted research publications, consulting services, and process-enhancement workshops designed to drive innovation. PayStream’s research is available on demand for members, and membership is completely free. For more information visit http://www.paystreamadvisors.com.