GUIDES & REPORTS
Ardent Partners' AP Metrics that Matter in 2023
In this report, Ardent Partners has compiled the best and most widely used industry accounts payable benchmarks captured in their annual state of the market report, "The State of ePayables in 2022: Mastering a key function at a critical time." In addition to explaining the KPIs being measured across hundreds of AP departments around the world, Ardent Partners details the trends they’ve seen among the metrics reported by respondents and what they believe this implies for what’s to come in the year ahead should these trends continue.
Since 2010, Ardent Partners has conducted more ePayables market research than any other firm or consultancy in the industry. In that time, Ardent has benchmarked thousands of organizations across all aspects of their AP programs.
"The drive to improve reporting and analytics is a clear representation of the function’s determination to become a strategic "hub" of intelligence for the rest of the enterprise. However, many AP departments still have gaps that need to be addressed, which is why digital transformation initiatives…occupy the remainder of the 2023 agenda."
Why is it important to measure accounts payable KPIs?
AP and Finance teams function in a world of information and data, and they are the first to admit that metrics matter. Particularly in today’s business environment, having access to accurate and real-time metrics is a game-changer when it comes to understanding your current state. After all, how can you establish what you want your future state to look like if you don’t know where you stand currently?
Tracking these metrics is definitive of continuous improvement and sets the stage for AP leaders to establish and communicate the value their department is driving to the rest of the business as well as providing the opportunity for setting and achieving objectives down the road.
Download the report to learn:
- The most widely-reported challenges and issues that are holding AP teams back from achieving their goals – and how to resolve them.
- The KPIs that AP departments should be measuring and the benchmarks from their peers for comparison.
- The skills that next generation AP professionals should look to adapt to keep up with the trends in finance departments.
- How Ardent Partners predicts we’ll see these trends develop throughout 2023 and beyond.