Accounts Payable Analytics
AP Analytics
Serrala AP Analytics: Dashboards & KPIs to Measure AP Performance
Today‘s finance organizations need access to fast, accurate information to gain deeper insights and drive better financial decisions – this is true for every part of the organization, including accounts payable. To effectively reduce processing costs, control spend and optimize vendor payments, AP requires fully digitized processes and robust reporting solutions to quickly and reliably measure AP performance from end-to-end. That´s where Serrala´s accounts payable analytics solution steps in.
Pre-built accounts payable analytics with interactive visualizations and dashboards
Serrala AP Analytics is a set of pre-built KPIs, reports and dashboards that deliver fast, accurate and relevant information to measure your AP process performance. Available as a cloud-based add on for your Serrala AP Automation solution, this structured, yet flexible analytics solution automatically aggregates data from across your organization to provide a 360 degree view of your AP processes.
Everyone from the CFO, through to Global Process Owners and AP Analysts can use the intuitive BI dashboards and reports to understand what’s happening in AP. The interactive charts, graphs, and tables are easy to navigate and easy to understand. Data visualizations enable users to identify patterns, trends, and correlations that otherwise might go unnoticed when using traditional reports, tables, or spreadsheets. With a simple click, users can drill from high-level summaries down to specific transaction details to perform a more detailed root cause analysis.
Accounts payable analytics enhance detailed process information and reporting capabilities
Meaningful dimensions (e.g., vendor, clerk, etc.) and flexible filter and selection functions make it faster and easier for users to gain insights into your accounts payable analytics and track the progress of essential AP metrics such as:
- Days Payable Outstanding (DPO)
- Invoice Cycle Time
- Receipt to Post
- Spend Analysis
- Invoice Source
- AP Automation Rate
- Auto-posted Invoices
- Duplicates
- Exceptions
- Cash Discounts @ Risk %
- Cash Discounts Lost
- Time with AP Department
- and more…
The sophisticated BI toolset provided with Serrala AP Analytics makes it possible to examine data in different ways. You can lasso data in charts and graphs, click on items in list boxes, move sliders, and select dates in calendars. Filtering of data will get instantly applied to the reports and dashboards.
Globally automate and standardize AP reporting
Each of the reports and dashboards can be quickly rolled out as standardized KPIs across a global AP organization. Data can be filtered based on the users’ business unit, location, cost center or other criteria.
Access to detailed accounts payable analytics has never been easier. The reports and dashboards can be viewed in a web browser or on a mobile device. Users can easily review data wherever they are, at any time. Commonly used reports, dimensions and filters can be saved for future use and easily shared with others. The cloud-based accounts payable analytics solution does not require users to have specialized reporting knowledge or tools in order to perform detailed analyses of AP performance.
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Calculate Your AP Automation ROI
Achieve your organization’s specific automation goals and save time and money with our AP automation calculator. See the potential savings that can be achieved by implementing our solution, which efficiently captures, validates, and processes vendor invoices, and start building your AP Automation ROI analysis today!
Benefits
Why you should use Accounts Payable Analytics
Meaningful Data Visualizations
Standardized Reporting Tools
Easy to Use & Collaborate
Automated - Fast, Accurate Data
Best-in-Class AP Metrics
Flexible and Informative Reporting
Still have questions?
Serrala optimizes the Universe of Payments
for organizations that seek efficient cash visibility and secure financial processes.
Accounts Payable Analytics: The eye-opener for your AP performance
In-Depth Analysis
Analyze information from different perspectives using filters and dimensions. Easily drill-down to transaction details and sort information according your preferences to understand the drivers behind the data.
Comparative Analysis
Select and compare various sets of information to spot trends and highlight anomalies. Benchmark your performance against historical and forecasted data to maintain focus and enable process improvements.
Mobile Data Discovery
Analyze data from anywhere with your mobile device or through a standard web browser. Executives can easily explore high-level summaries or detailed AP data to stay on track.
Advanced Charting
Discover new data patterns and relationships using interactive visualizations. Pivot tables, along with pie, line, bubble and stacked bar charts, help users make sense of their data.
Collaborative Discovery
Increase collaboration across departments and improve transparency in the decision-making process by enabling users to annotate, save and share reports to explore data collectively.
Customer Stories
Deutsche Bahn AG Automates Accounts Payable
We have been able to improve payment on time by 3% and increase capture of cash discounts by 4%. With 3.2 million invoices this adds up to quite a lot of savings.
Marcel Kaiser, Senior Specialist Digital Transformation & Processes Accounting, Deutsche Bahn AG
Johns Hopkins Reduces AP Backlog with Automated Invoice Exception Handling
Discover how Serrala´s SAP-integrated AP solution enabled Johns Hopkins to automate processes by up to 90% and cut processing costs in half.
Johns Hopkins
FAQ
A KPI is a quantifiable measure of performance over time for a specific objective. In AP, it’s important to use KPIs to monitor your progress and ensure you are achieving your process optimization goals. For example, by measuring the „Number of Paper Invoices “, you receive and comparing it against the „Number of Digital Invoices“ you receive, you will have the data you need to improve „Invoice Cycle Time“ by encouraging more vendors to send digital invoices. KPIs also make it easier for AP teams to demonstrate their value to the organization. For example by measuring „Discounts Taken / Lost“ or „Cost Per Invoice“, the AP team can demonstrate how they help support organizational cost savings measures and working capital initiatives.
There are many KPIs that AP departments can track to monitor performance, and every organization should choose the KPIs that align with their strategic goals and industry benchmarks. Serrala recommends that you consider tracking KPIs for the following process areas:
- Automation Rates: Straight Through Processing, No AP touch, Touchless Invoice Capture
- Process Cycle Time: Time from Receipt to Post, Approval Time, Time to Resolve Exception
- Errors and Exceptions: Duplicate Invoice, Missing Purchase Order, Incorrect Vendor Master Data
- Spend and Discounts: Discounts at Risk, Discounts Available, Spend by Vendor
- Days Payable Outstanding (DPO)
Serrala AP Analytics enables AP teams to gain valuable insights into the actual time taken in each phase of the invoice lifecycle. Typical process time measurements include: receipt to post, approval time, time to resolve exception. By using these measurements and analyzing data using the different dimensions and filters, you can discover the root-cause for process delays and take action to improve your process efficiency. For example, if a vendor repeatedly sends incorrect invoices, you could provide the vendor with training or an online portal that makes it easier to submit invoices with all the necessary information for faster processing.