Maximizing AP Performance: Key Metrics [Accounts Payable Best Practices]

What do you think are the top three crucial metrics you need to know to maximize AP performance? Best Practices for Accounts Payable Management includes 3 Must-Know Metrics that are key for maximizing accounts payable performance. While there are literally hundreds of metrics you can measure around the accounts payable process, we’ve got three basic ones to get you started. Although, to be honest, each of the primary metrics has several additional KPIs that you might also want to calculate in order to run a best practice accounts payable operation. Stick around until the end when we show how the last set of metrics can be used to improve productivity and drive best practice performance from your accounts payable and payments operations. It’s really pretty simple.

This is part of a series on accounts payable best practices. It includes short tips, short accounts payable best practice tips, to help viewers improve their accounts payable or procure-to-pay process, as well as longer broadcasts focusing on niche accounts payable topics. One short AP best practice tip will be released every day, except for Tuesday and Thursday when our longer broadcasts are released.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to Accounts Payable Month Playlist (long and shorts) https://youtube.com/playlist?list=PLtL6rWSXZ-HdXQrxOFqXLPw5t0g7YjhVh

Link to the One AP Metric You Should NEVER Use
https://youtu.be/0CPLv5zv4Q8

Link to Accounts Payable Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V

Link to Changing Invoice Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Link to Accounts Payable Internal Controls Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_

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