The Invoice Reconciliation and Payment Benchmark Report

The Invoice Reconciliation and
Payment Benchmark Report








June 2006

— Sponsored by —

The Invoice Reconciliaiton & Payment Benchmark Report
Executive Summary

nvoice Reconciliation and Payment (IR&P) is more than simply processing invoices
and paying bills. It is the foundation into gaining real-time visibility into costs and
supplier performance. In an economic environment with wild price-swings in busi-I
ness costs, IR&P should be providing information on spend and costs to manage the
enterprise and maintain competitive position.
AberdeenGroup received survey responses from approximately 150 industry executives
and managers to gain further insight on IR&P processes, strategies, processes, chal-
lenges, and successes. This report identifies the current priorities, top pressures, and spe-
cific strategies Best in Class enterprises are implementing to increase the business value
delivered from IR&P activities.
Key Business Findings
Aberdeen’s 2006 Invoice Reconciliation and Payment Benchmark Report reveals that
enterprises are seeking to reduce their costs through
maximizing liquidity and cash flow and headcount More than two-thirds, or 69%, of enter-
reductions. A key area of focus is improved visibil- prises report they have limited-to-no
ity into spending. Gaps in the source-to-pay lifecy- visibility into spending.
cle include processes where critical information is
not collected, data is poorly organized, ...