This is the last week you will be able to download Ardent Partners’ annual AP-themed eBook, The Accounts Payable Metrics that Matter in 2021. Download the eBook before it’s gone!
Similar to procurement, the Accounts Payable function has risen in stature, prominence, and impact within the enterprise over the past few years, but the larger opportunities for value creation still lay ahead for most groups. And, while finance and AP leaders understand that the AP function sits at the convergence point for cash management, supplier management, and enterprise visibility/intelligence, most other executives do not. That may soon change as the overarching trend of business convergence is forcing most businesses to challenge legacy views and approaches. Business convergence may become the catalyst needed to ultimately propel AP forward over the next few years.
Establishing and measuring relevant and actionable metrics is an important part of any business function since it provides the opportunity to set, track, and ultimately achieve goals and objectives while providing the key inputs to drive continuous improvement efforts. With process automation tools in place, a procurement or AP department is significantly better able to capture performance metrics than in a manually-driven environment. While automation can be a critical step towards improving performance, it is the level of access and visibility into key performance indicators (KPIs) and the analytical capabilities to understand and act upon that data that enables intelligence and allows for continuous improvement.
To get better results, it is important that groups measure the right things. Ardent Partners has developed a list of annual “Metrics that Matter” for business leaders to use as a means to establish a performance and business impact baseline and then improve upon them. While broad in scope, the eBooks are not intended as an all-inclusive list of metrics, but rather for different organizations to gain guidance on what to measure and then benchmark themselves against the broader market and the Best-in-Class.
Make sure to download the AP Metrics that Matter before its gone, and watch for our next eBook in June!
About the eBook:
Over the past decade, Ardent Partners has conducted more supply management market research studies than any other firm or consultancy in the industry. In that time, Ardent has benchmarked, surveyed and interviewed thousands of distinct organizations across all aspects of their supply management programs including sourcing, procurement, supply management, and accounts payable. If you work in these areas or are a stakeholder vested in their success, you will want to download this eBook!
