Benchmark and better practice reviews
Many organisation's are looking to understand how they are performing against benchmark results and better practice process maturity. The Australian Benchmark Initiative offers the following assessments with reference to the 2017 studies for Purchase to Pay, Receivables & Payroll:
1. DESKTOP ASSESSMENT Method: Analysis: Deliverable: Timeframe: Cost:
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2. ACCELERATED ASSESSMENT Method: Analysis: Deliverable: Timeframe: Cost: |
If you would like to conduct one of these assessments, or would simply require more information, please fill in the form below and we will be in contact with you. Alternately, call us on +61 2 8071 4157.
For more detailed reviews, or for those in other areas of Finance operations, our sponsor, optim2 can be contacted here.
Assessment contact request
Benchmark metrics
Along with a range of qualitative information in relation to process attributes, a range of metrics are collected and analysed. The Australian Benchmark Initiative has attempted to choose a straightforward set of metrics that would be easily understood across the broad range of participants.
For each metric quartile measures will be provided (bottom, median, top) for the following:
Purchase to Pay
1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Invoices processed per FTE
4. Purchase Order penetration
5. Purchase Orders after the event (%)
6. Matching tolerance ($ and %)
7. Payment cycles (#)
8. Standard payment terms
Payroll
1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Payruns per pay cycle type
4. Headcount processed per pay cycle
5. Timesheets processed per pay cycle
6. Percentage of "out of cycle" payments
Receivables
1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Active customer accounts managed per FTE
4. Days Sales Outstanding (DSO)
5. Percentage of debtors > 60 days
6. Remittances processed per FTE
7. Payment types (electronic/cash)
8. Standard trading terms
Chartered Magazine article
Chartered Magazine, in their April 2014 edition ran an article on the Australian Benchmark Initiative. That article can be downloaded here.