Tuesday, November 30th, 2010
The first Accounts Payable Benchmark Report for Australia and New Zealand reveals that most companies do not benchmark their productivity and are unaware of their true productivity levels.

Launched today, the Accounts Payable Benchmark Report 2011 allows CFOs and finance managers to measure their performance against their peers in the region for the first time.

The report is the first of its kind to provide a benchmark for productivity and data about the impact of automation.

Mr Richard Bates, Managing Director of Scan Conversion Services, which sponsored the survey of 410 companies, says that the report reveals a huge disparity in productivity rates.

“There were dramatic differences between the lowest performing companies and the highest performing companies,” Mr Bates said. “But the most telling result was that the vast majority of companies do not benchmark their productivity at all and are unaware of productivity levels except to visually assess that ‘people look busy’.”

Mr Bates said that finance staff were typically besieged by data.

“They spend most of their time processing, chasing and filing invoices,” Mr Bates said. “Coupled with the increased skills shortages and increased incidence of fraud, this is a high pressure environment with little time left for analysis of business performance.”

The Accounts Payable Benchmark Report looks at the impact of different levels of automation in finance organisations.

“Our own and other studies found that staff could be wasting as much as two thirds of their time processing information that requires no action,” Mr Bates said.

“CFOs tell us they want to reduce their time spent on processing and increase their time analysing, yet the report shows that most are still mired in transactional mode. We sponsored this study to assist CFOs to drive change and achieve best practice.”

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the Accounts Payable Benchmark Report 2011

The Accounts Payable Benchmark Report is the first survey of its kind to measure the impact of automation on the productivity of Accounts Payable departments in Australian and New Zealand businesses.

The survey was designed to help businesses measure the current productivity of their Accounts Payable departments and compare them against industry best practice.

A total of 411 of companies, ranging in size from 1-50 employees through to 351-400 employees, responded to the survey. The statistics collated in the report show:

• Productivity Vs Level of Automation
• Number of Companies Surveyed Vs Number of Employees
• Number of Companies Surveyed Vs Turnover
• Industry Vs Productivity
• Cost Per Invoice Vs State
• Cost Per invoice Vs Level of Automation

The data was analysed by an independent statistician and the results were then compared to similar surveys from America and Europe.

For a copy of the Accounts Payable Benchmark Report 2010, please visit:
http://www.accountspayable.net.au/benchmark.html  or phone (08) 8227 0877.

CFOs who want to find out what kind of savings could be achieved from high levels of automation can use the investment calculator:
Leila Henderson
P: 0414 69 70 71
W: www.accountspayable.net.au/benchmark.html

Scan Conversion Services

Scan Conversion Services sponsored the Accounts Payable Benchmark Report to provide the first benchmarking data for finance organisations in Australia and New Zealand. The company has provided its scanning and archiving solutions to hundreds of corporations, professional services organisations and government agencies across the Asia Pacific region.

A Commonwealth Government Endorsed Supplier and winner of an Australian Information Industry Association iAward for Financial Services, SCS was founded in Adelaide in 1996, and has since expanded through partnering and mergers in Queensland and New Zealand.


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