登录查看更多内容

How can you establish invoice processing benchmarks for Corporate Accounting?

由人工智能和领英社区提供技术支持

Invoice processing is a vital function of corporate accounting, as it affects cash flow, compliance, and customer satisfaction. However, how do you measure the efficiency and effectiveness of your invoice processing system? How do you compare your performance with industry standards and best practices? In this article, you will learn how to establish invoice processing benchmarks for corporate accounting using four steps: define your goals, identify your metrics, collect your data, and analyze your results.

此文章中的业界达人

由社区从 6 条内容中精选。了解更多

Tomi Akinwale ACCA, ACA, ACTI, B.TECH, FMVA, AAT.

Tax | Deloitte | Financial Reporting & Modelling |
Cristian Palermo

Gerente de Facturacion, RA, TMS en OCASA
Michael Dennis

Author. Consultant. Key Note Speaker. Career Coach. Instructor. Mentor. Friend.

1 Define your goals

Before you can set up invoice processing benchmarks, you need to have a clear idea of what you want to achieve and why. What are the main objectives of your invoice processing system? How do they align with your overall business strategy and accounting policies? For example, you may want to reduce invoice processing costs, improve payment accuracy and timeliness, enhance customer service, or comply with regulatory requirements. Your goals will help you determine the scope, frequency, and format of your benchmarking process.

添加您的观点

Tomi Akinwale ACCA, ACA, ACTI, B.TECH, FMVA, AAT.

Tax | Deloitte | Financial Reporting & Modelling |
举报内容
First define your goals and be clear on the objectives. Use SMART goals techniques to make sure goals are simple measurable achievable and relevant to the objectives.

已翻译

赞
Cristian Palermo

Gerente de Facturacion, RA, TMS en OCASA
举报内容
En mi opinión, el principal objetivo de la correcta y eficiente contabilización de facturas consiste nada mas y nada menos que en garantizar la precisión y la velocidad de registración asignando los ingresos y los compromisos por pagar a las partidas correctas. Esto nos permitirá alcanzar el cumplimiento de plazos con proveedores y agilizar el proceso de presentación y cobro de facturas a nuestros clientes

已翻译

赞

2 Identify your metrics

When measuring invoice processing performance, it's important to choose the relevant metrics to compare with others. Common metrics include invoice volume, cycle time, accuracy, exception rate, automation rate, and processing cost. Invoice volume is the number of invoices processed in a given period. Invoice cycle time is the average time it takes to process an invoice from receipt to payment. Invoice accuracy is the percentage of invoices that are processed without errors or disputes. Invoice exception rate is the percentage of invoices that require manual intervention or special handling. Invoice automation rate is the percentage of invoices that are processed electronically without human involvement. Lastly, invoice processing cost is the total cost of processing an invoice, including labor, technology, and overhead.

添加您的观点

Cristian Palermo

Gerente de Facturacion, RA, TMS en OCASA
举报内容
Volumen de facturas recibidas vs procesadas Tiempos y demoras de procesamiento Facturas pendientes de registrar al cierre de periodo Crédito fiscal no incorporado en el periodo Cantidad de facturas por fuera de circuitos ordinarios Cantidad de facturas procesadas por analista

已翻译

赞

3 Collect your data

Once you have selected your metrics, you need to collect the data that will help you calculate them. You can use various sources of data, such as your accounting software, your invoice processing system, your payment records, your customer feedback, or your internal audits. You should also decide on the time frame and the frequency of your data collection, depending on your goals and resources. For example, you may want to collect data monthly, quarterly, or annually, and compare it with the same period in the previous year or the current industry average.

添加您的观点

Cristian Palermo

Gerente de Facturacion, RA, TMS en OCASA
举报内容
Considero que el mejor seguimiento de la gestión del área se consigue con metricas mensuales y un acumulado de 13 meses, donde se pueda medir la evolución del a?o y comparar contra el mismo mes del a?o anterior. Esa mirada nos va a permitir tener ademas de nuestros indicadores, el comportamiento estacional del area

已翻译

赞

4 Analyze your results

The final step is to analyze your data and compare it with your benchmarks. You can use various tools and methods to do this, such as spreadsheets, charts, graphs, dashboards, or reports. You should look for patterns, trends, gaps, and opportunities in your data, and identify the strengths and weaknesses of your invoice processing system. You should also evaluate the impact of your invoice processing performance on your business outcomes, such as cash flow, profitability, customer satisfaction, and compliance. Based on your analysis, you can then set improvement targets, prioritize actions, and implement changes to optimize your invoice processing system.

添加您的观点

Cristian Palermo

Gerente de Facturacion, RA, TMS en OCASA
举报内容
Definir / Medir / Controlar Es la clave de cualquier proceso operativo para poder mejorarlo Es clave que la definición de las metricas y la obtención de la información sea sostenible. Si la generación de información para obtener las metricas se convierte en una actividad de dificil ejecución, nuestros indicadores caerán en desuso y no podremos alcanzar los resultados que buscamos

已翻译

赞

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Michael Dennis

Author. Consultant. Key Note Speaker. Career Coach. Instructor. Mentor. Friend.
举报内容
I am convinced that the single most important invoice processing metric is typically the invoice processing time or cycle time. This metric measures the amount of time it takes for an invoice to be received, processed, approved, and paid. Invoice processing time is critical because it directly impacts on cash flow: Delays in processing invoices can lead to delayed payments. Timely processing of invoices ensures accurate recording of expenses and liabilities in financial statements, providing stakeholders with reliable financial information for decision-making purposes.

已翻译

赞

Corporate Accounting

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you establish invoice processing benchmarks for Corporate Accounting?

1

2

3

4

5

1 Define your goals

2 Identify your metrics

3 Collect your data

4 Analyze your results

5 Here’s what else to consider

Corporate Accounting

给文章评分

感谢您的反馈

更多Corporate Accounting相关文章

更多相关阅读内容