Accounts Payable Automation Benchmark Report

This report serves as a benchmark analysis of Accounts Payable (AP) Automation, focusing on various key performance indicators (KPIs) for both non-PO and PO invoices. The document presents detailed metrics such as total invoice processing cycle time, touchless capture rate, and automatic routing rate. It discusses trends in KPI performance, indicating areas where AP teams can enhance efficiency through increased automation and the integration of artificial intelligence technologies. The report outlines the methodologies used for data collection, which includes anonymized and aggregated invoice processing data from the Medius customer community. Furthermore, it emphasizes the impact of e-invoice mandates on touchless processes and highlights success stories from companies that have improved their AP operations through automation. Recommendations for enhancing performance in invoice processing are also provided, focusing on strategies such as automating data capture and optimizing AP configurations.