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australian benchmark initiative

Finance benchmarks and better practice

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 2016 studies for Purchase to Pay, Receivables & Payroll:

1. DESKTOP ASSESSMENT

Method:
Online questionnaire.

Analysis:
Responses compared to 2014 study.

Deliverable:
A report comparing your responses to the 2014 benchmark and better practice study.  This includes performance against benchmarks, an assessment of process maturity, and identification of potential areas for improvement.

Timeframe: 
2 business days post questionnaire completion.

Cost:
$4,995 + GST

 

2. ACCELERATED ASSESSMENT 

Method:
Online questionnaire, interviews and improvement workshop.

Analysis:
Responses compared to 2014 study, with additional improvement analysis (process, structure & technology).

Deliverable:
Detailed report, including benchmark and better practice comparisons, identification of specific areas for improvement, specific "fit for purpose" recommendations, and building of an improvement plan for resolution.

Timeframe: 
10 business days, including interviews, workshop and reporting

Cost:
$14,900 + GST

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.