8 Key Electronic Invoicing Indicators

Feb 4, 2014 | Electronic Invoice

In any field, and especially in the business world, it is important to base decisions on reliable and effective parameters. In this article, we are going to include some of the main values that make up the invoicing indicators that can contribute to describing the evolution that the figure of the electronic invoice is having.

8 Electronic Invoicing Indicators

  1. Only 3 years ago in the IAPP 2010 report, we can see that 99.7% of the invoices were paper. The cost of archiving an invoice according to a Gartner study in 2002 was $20, while a badly archived invoice was $120.
  2. An Accounts Payable clerk processes on average between 60 and 80 invoices per day, according to data extracted from ACFE Benchmarking, which has an average salary of 20,000 euros per year (the European average is 27,000 euros). In Mexico, the average salary of an Accounts Payable clerk is 110,930 Pesos, while in the USA it is $28,578.
  3. According to IAPP 2003 report, for each 10,000 annual invoices a new employee is required in Accounts Payable. 
  4. With this in mind, we find that the cost of processing an invoice is 5.90euros in Spain, 17.30euros on average in Europe, 60.2 Mexican pesos and $19.80 in the USA.
  5. 98 % of Financial Directors use basic spreadsheets, updated manually, to analyse complex financial information. And in medium and large corporations, the financial directors cannot get the information that they need to efficiently measure the performance of the business.
  6. It is a process with many possibilities for improvement and optimization, principally through externalization, which experienced an interannual growth of 9.5% until 2007, according to Gartner, and which , in the following years has continued to increase. 
  7. Gartner, in one of its studies, advises that it is much better to save than to increase sales, given that each $100,000 saved on operating costs is equivalent to a sales increase of $1.5 million.

In conclusion, it is always good to review the data we have and analyze if we are not losing important opportunities to grow in the business because we do not have a global vision of the numbers, and the electronic invoicing indicators show us the area of the company where we can save and optimize the most: the Accounts Payable area.

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