Is there a book or Web site that lists formulas to help with AP benchmarking, for example, a set formula to measure the cost to process an invoice?”
“Our Web site has a calculator that can help you determine your processing cost. The Accounts Payable Network recently completed a survey of members on their AP volumes, and included in the survey was AP budget (cost of AP). Taking volumes and cost, the results include summary figures on total cost to process an invoice -here defined as the entire process from invoice receipt through payment. The results are based on total cost of AP divided by total invoices processed. There are a couple of other organizations that have surveyed clients for their cost to process an invoice. One asked the respondents to include “”all AP department costs including salaries but excluding corporate overhead, rent, etc.”” Another asked the respondents to document what costs they included in their number, and it offers this guide: “”the majority of companies include salaries & benefits in their cost calculation”” and then adds that the average cost of other components, such as rent, office supplies, etc., r
