SAP Concur Publishes Industry Benchmarks for Accounts Payable Efficiency
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AP efficiency directly affects corporate cash flow, credit ratings, and supplier relationships; the benchmarks and best practices provided can help finance and travel expense managers optimize payment processes.
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- SAP Concur BlogSAP Concur Publishes Industry Benchmarks for Accounts Payable Efficiency
A SAP Concur blog post explores industry benchmarks for accounts payable efficiency, noting that delayed payments can lead to finance charges, poor vendor relations, credit rating downgrades, and supply chain disruptions, while paying too early impacts cash flow. It introduces the 'time-to-pay' metric and recommends keeping overall time-to-pay between two days to approve and three days to pay. It also lists best practices including configuring audit rules, integrating card feeds, automating receipt capture, and automating payment processes.