Benchmarking In AP, Procurement and Shared Services: How Do You Compare? Survey

Question Title

* 1. What is your main industry or specialization?

Aerospace and Defence

Automotive

Banking, Insurance and Finance

Food and Beverage

Government

Oil and Gas

Consumer Goods Manufacturing

High Tech

Healthcare and Pharmaceuticals

Telecommunications

Business and Consumer Services

Retail

Non-Profit

Other (please specify)

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* 2. What is your organization’s annual revenue, or its budget if governmental?

Less than $100 million

$100 - $250 million

$250 - $500 million

$500 million - $2 billion

$2 billion - $10 billion

$10 billion +

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* 3. How do you see new advances in technology, such as robotic process automation and artificial intelligence, changing Accounts Payable? Please tick all that apply

I think it will lead to mass job losses for AP professionals.

I think the technologies will allow organizations to streamline their processes and become more efficient.

I think the technologies will allow strategic changes within AP organizations.

I don’t think there will be massive changes in AP.

Other (please specify)

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* 4. Is your organization well prepared to take advantage of the opportunities cognitive computing and AI offer?

Not prepared at all

Still work to do

Very well prepared

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* 5. Which of the following vendor risk management practices do you have in place in your Accounts Payable operation? Please check all that apply

Business sponsor identified before any new vendor (a.k.a., supplier) master record created

Second approval (like business sponsor’s manager or category manager) before vendor master setup

Vendor profile/setup form, capturing critical supplier information, prior to setup

Duplicate vendor check

Vendor data authenticated, by vendor maintenance team or others, against official data sources prior to setup

Bank account verification (routing number, account number, penny tests, or ownership)

Prohibited/Sanctioned vendor list checking (OFAC, Interpol, Bank of England, etc.)

Minority/Diversity status verification (e.g., certificates required, verification against government databases)

Anti-bribery checks (Politically-Exposed Persons)

Contact data capture and verification (legitimate email address)

Industry-specific verification (e.g., government contractor, healthcare registries)

Employee match (banking, tax ID, address, phone number)

Segregation of duties – Vendor Maintenance team cannot request new vendors, enter invoices, or execute payment runs.

Conflict minerals certification

Independent reputation/Compliance checks (e.g., negative news, liens, bankruptcies, child labor)

Question Title

* 6. How do you capture your vendor data?

Vendors created when the first invoice arrives using data on the invoice

Paper, PDF or Excel form completed by Procurement or Requester

Paper, PDF or Excel form completed by the supplier

Online supplier request form completed by Procurement, Requester, or other internal user

Online supplier form completed by the Supplier

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* 7. Do you agree with the following statement about your vendor data? “I have complete confidence that my vendor data is accurate and up to date.”

Agree

Disagree

Neither agree or disagree

Comments

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* 8. How often do you cleanse and/or enrich your supplier data?

Never

Ad hoc – when needed

Every 2-3 years

Annually

Quarterly

Monthly

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* 9. How frequent is your review of high risk/at-risk vendors?

Continuous monitoring in real time

Monthly

Quarterly

Annually

Not reviewing

Other (please specify)

Question Title

* 10. How many standard payment terms are available to your vendors across your ERP platform(s)?

None

Immediate

Net 30

Net 45

Net 60

Net 75

Net 90

Greater than Net 90

A discount payment term

Other (please specify)

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* 11. What is your organization’s average cost per invoice in US Dollars?

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* 12. What is your discount capture rate (invoices are processed in time to capture an early payment discount)?

Don’t know

None – we do not support early payment discounts

<50%

50-75%

76-90%

91-99%

100% - we always take the discount, whether paid in time or not

Question Title

* 13. If you would like exclusive access to the 2018 Benchmarking Report, please fill in your email below.

Question Title

* 14. Would you be interested in completing our longer benchmarking survey? It will take approximately 30 minutes, and in return you will receive a personalized benchmarking report on your position in the industry.

Yes

If yes, please enter your email address below

Benchmarking In AP, Procurement and Shared Services: How Do You Compare?

How does your organization compare to its peers? Take our 3 min survey and find out.

Question Title

* 1. What is your main industry or specialization?

Question Title

* 2. What is your organization’s annual revenue, or its budget if governmental?

Question Title

* 3. How do you see new advances in technology, such as robotic process automation and artificial intelligence, changing Accounts Payable? Please tick all that apply

Question Title

* 4. Is your organization well prepared to take advantage of the opportunities cognitive computing and AI offer?

Question Title

* 5. Which of the following vendor risk management practices do you have in place in your Accounts Payable operation? Please check all that apply

Question Title

* 6. How do you capture your vendor data?

Question Title

* 7. Do you agree with the following statement about your vendor data? “I have complete confidence that my vendor data is accurate and up to date.”

Question Title

* 8. How often do you cleanse and/or enrich your supplier data?

Question Title

* 9. How frequent is your review of high risk/at-risk vendors?

Question Title

* 10. How many standard payment terms are available to your vendors across your ERP platform(s)?

Question Title

* 11. What is your organization’s average cost per invoice in US Dollars?

Question Title

* 12. What is your discount capture rate (invoices are processed in time to capture an early payment discount)?

Question Title

* 13. If you would like exclusive access to the 2018 Benchmarking Report, please fill in your email below.

Question Title

* 14. Would you be interested in completing our longer benchmarking survey? It will take approximately 30 minutes, and in return you will receive a personalized benchmarking report on your position in the industry.

Question Title

* 15. If you have any questions, comments or thoughts regarding this survey, please let us know below.