KPI Benchmarks : Percentage of Invoices Received as PDFs
- Benchmark Range
- Benchmark Average
- Benchmark Sample Size (n) 30
* Is High or Low Best: Lower is Better
Percentage of Invoices Received as PDFs
The Percentage of Invoices Received as PDFs is an indicator of invoice submission quality, and its potential impact on productivity, error rates, costs, and overall work quality within the company's Accounts Payable (AP) Department. A high volume of invoices in PDF format may put increased workload on AP staff members - in most cases, these invoices must be manually keyed into the company's invoice processing system. Even in instances where PDF invoices can be input into company systems using optical character recognition (OCR) technology, the completeness and accuracy of these entries may be subpar as compared to fully electronic processing formats, such as Electronic Data Interchange (EDI). If the company is unable to receive and process invoices electronically, data input accuracy and completeness must be diligently monitored and enforced by AP managers to keep invoicing and payment errors to a minimum.
The number invoices received (from company vendors/suppliers) in PDF format by the Accounts Payable (AP) Department divided by the total number of invoices received (electronic, paper, PDF) by the AP Department over the same period of time, as a percentage.
KPI Best Practices
- Set procedures with vendors to submit invoices electronically
- Offer multiple options for vendors to submit invoices electronically
- Segment suppliers by likelihood to adopt electronic invoicing
KPI Calculation Instructions Percentage of Invoices Received as PDFs?
Two values are used to calculate this KPI: (1) the number of invoices received in PDF format, and (2) the total number of invoices received by the Accounts Payable (AP) Department over the same period of time. Invoices received as PDFs are typically transmitted via email, or submitted through the company’s supplier "portal," or similar. Invoices manually submitted in paper format without an accompanying PDF document should not be included in the numerator for this calculation. Invoices submitted on paper, as a PDF or electronically (through an Electronic Data Interchange, or EDI, platform), with or without an accompanying purchase order, should be included in the denominatorfor this calculation. Included invoices received from all company vendors/suppliers in this calculation.
KPI Formula :
(Number of Invoices Received as PDF / Total Number of Invoices Received) * 100