The new Benchmarks dashboard empowers users to assess the performance of their organization’s processes by comparing key KPIs against industry averages and top performers. Example KPIs include Touchless Rate, Invoice Processing Days, Percentage of E-Invoices, On-Time Payment Rate and many more.
Users can tailor their benchmarking view by selecting a benchmarking industry, invoice volume range, and comparing performance against the top 5%, 10%, or 25% of best-performing organizations. Additionally, users can filter which invoices are included in the benchmark calculation based on invoice association (such as PO, non-PO, SP invoices) or invoice origin, allowing for more relevant and targeted comparisons.
This high level of customization provides actionable insights to identify performance gaps, adopt best practices, and drive continuous process improvement and operational efficiency.