The tool helps Financial Directors and Accounts Payable Professionals to obtain one of the most decisive KPIs for the successful management of operations in the Accounts Payable Department.
easyap, an FPO (Finance Process Outsourcing) services firm has announced the availability of its Supplier Invoice Processing Cost Calculator , an on-line tool designed to help Finance Managers and Accounts Payable Managers evaluate one of the most important metrics in the management of its operations.
"Different surveys we have carried out have shown that two out of three CFOs in Spain are unaware of how much it costs their company to process an invoice, and less than half know precisely the number of invoices they process annually," said Gonzalo Delgado , CEO of easyap. "However, without these metrics, it is extremely difficult to determine the efficiency of the Accounts Payable department, which on the other hand is by far the function of the financial area most exposed to manual labor. By invoice, you can not optimize the costs if you do not know them before. Once the cost is available it is advisable to have a detailed action plan to improve efficiency and reduce that cost. Every Financial Director should know the Cost of Invoice Processing, you can not optimize the costs if they are not already known. Once the cost is available it is advisable to have a detailed action plan to improve efficiency and reduce that cost".
Supplier invoice processing cost calculator
With the easyap Invoice Processing Cost Calculator , available online at www.easyap.com/en/calculator-cost, anyAccounts Payable Officer can easily find out this important key performance indicator. It is only necessary to introduce values associated with the people involved in the process, the type of invoices received each year, and the annual costs of third parties that can be attributed to the process.
Once CFOs or Accounts Payable Managers have calculated their Processing Cost per Invoice, it is also useful to know how they compare with the average for their economic sector. Based on its market research, easyap has developed a set of best practices statistics for Accounts Payable that includes the Processing Costs for each economic sector in Spain, which are then compared with the result obtained using the calculator.
