Why not to measure the price per invoice, when looking for an effective P2P process?
The current industry measure for the effectiveness of an organisations invoice process is the percentage of those invoices that are straight through processed (STP). i.e. invoices that require no manual intervention or rework to approve and pay the invoice.
Ensuring the correct process design is implemented and operating as effectively as possible is the goal of the Oxygen Early Payment Programme – to enable as many invoices to process automatically through the system, with payment made to the supplier within 1 banking day (or day 7 for disputed invoices).
We have therefore focused our solution on those designs and best practices that deliver this goal. A summary of some of the key principles that drive efficiencies and business benefit are: