Benchmarking: Accounts Payable Management

Accounts Payable Management Benchmarking Consortium

To identify "Best in Class" accounts payable management processes, which, when implemented, will lead member companies to exceptional performance.

The Accounts Payable Management Benchmarking Consortium™ (APMBC™) is an association of companies whose members conduct benchmarking studies to identify the best practices surrounding Accounts Payable Management that improves the overall operations of the members.

Benchmarking is a collaborative learning process among a group of companies to focus on specific operating practices, compare measures and results and identify improved processes within their organizations.

Key Components

Data gathering in the form of detailed surveys of measures and processes;
Identification of best performers; and
Site visits to the best companies.
Benchmarking Looks at Best Practices

Internally among divisions;
Within the industry; and
Outside the industry - out-of-box.

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This service is provided by The Benchmarking Network, Inc., an international resource for business process research and metrics. We lead studies with over 140,000 process leaders in over 65 countries. We provide benchmarking training and research to individual companies, professional and trade associations, and industry and process based groups. Since 1992, our over 300 benchmarking studies have spanned virtually all processes and industries to identify measures and collect data.

Benchmarking is a continuous process

Becoming one of tomorrow’s leaders requires a long term commitment to improvement. Companies are constantly seeking higher and higher levels of performance. However, as organizations improve, competitors continue to redefine the term “Best”. A Benchmarking program can fit into and feed annual organizational planning and budgeting cycles. The results of Benchmarking can be used as a guide for developing short term plans in the organization and therefore prioritize the issues facing the organization. Executives can then make more informed decisions based on the best opportunities. As we discussed, one objective of Benchmarking is to achieve a real breakthrough in performance. Through the identification of practices that contribute to improvements in efficiency as well as quality, it is possible to leap ahead of the competition and establish a new standard of performance.