The orders made and the subsequent invoices received and processed can be visualized with dashboarding. Based on this, KPIs can be defined that provide guidance to improve various sub-processes in the purchase-to-pay process. In addition, insight can be gained into supplier performance. This information can be included in the source to contract process.
A good Supplier Spend dashboard shows details of how spending is distributed within the organization. It allows users to analyze spending and break it down by suppliers, departments and orders within and outside the contract. It also helps identify opportunities to optimize spend by creating visibility into controlled versus uncontrolled spend.
This gives users insight into how vendor invoices contribute to inefficient processing in Accounts Payable due to missing data, exceptions, etc.
Understanding supplier quality helps Procurement develop better procurement strategies, build high-performing supply chains and reduce risk.
A Supplier Quality dashboard captures data on lead time, order fulfillment and delivery quality. A good Supplier Quality dashboard provides insight into in-depth analytics that procurement teams need to improve supplier performance.
If your financial administration operates as a shared service center for other organizational units, there may be a contractual agreement of this service. For example, the SLA may state that you must have 90% of invoices circulated for approval within two days of receipt.
To report on SLAs you have agreed to as a shared service center, a dashboard set up for accounts payable lends itself well.
By adopting electronic invoicing, companies can not only reduce paper use within the organization, but also enhance their green reputation by reducing CO2-emissions.
With a Carbon Footprint Index for invoices, users can view carbon emissions per invoice and compare the index to similar companies. By displaying the environmental impact, users are constantly visibly reminded how even small actions can lead to big savings.
