Facts of Friction

Welcome to the

FRICTIONFINDER

Friction undermines the accounts payable processes at many organizations.

Friction results in higher costs, late payment penalties, missed opportunities to capture early-payment discounts, supplier inquiries, and strained supplier relationships.

Many of these problems can be blamed on manual and semi-automated invoice processes.

This online tool will help you identify friction in your organization’s accounts payable process, and provide you with recommendations for achieving frictionless processing.

1. How satisfied are you with the overall efficiency of your procure-to-pay process?






2. How would you rate the overall efficiency of your procure-to-pay process?






3. How is your accounts payable department currently organized?






4. What percentage of your invoices are submitted in an electronic format that can be processed straight-through without human operator intervention?







5. What percentage of the invoices that your organization receives are linked to a purchase order?







6. What is the average number of days it takes your organization to process an invoice (from when it is received in the AP department until it is set up for payment)?







7. What percentage of your total invoice volume is paid-to-terms?






8. What percentage of available early payment discounts does your organization currently capture?







9. What percentage of your payments to suppliers are made electronically?







10. What percentage of your outgoing supplier payments contain errors?







11. What percentage of invoices do you pay twice (duplicate payments)?






12. What percentage of invoices does your organization process straight-through without human operator intervention?







13. What percentage of the invoices your organization receives result in an exception?







14. Does your accounts payable department currently provide suppliers with self-service real-time visibility into the status of invoices and payments?



15. Does your accounts payable department currently have real-time visibility into the status of invoices?



16. For what percentage of your organization’s total spend do you have real-time visibility?







17. How would you rate the level of collaboration between your organization’s accounts payable and procurement departments?





18. Has your accounts payable department experienced an indication or occurrence of check fraud within the past year?



19. Does your accounts payable department currently use automated solutions for identifying potentially fraudulent payments?



20. When you can’t access supplier data in real-time, how much time do you typically have to spend digging to get what you need?