This document provides an overview of key accounting operations benchmarks within Small and Medium-sized Businesses (SMBs) in the Industrial/B2B Manufacturing sector. The metrics presented herein encompass critical aspects of finance and accounting processes, offering valuable insights for firms aiming to optimize efficiency and performance.
P r ocess Benchmark T ime Unit Sour ce Not es M o n t h - E n d C l o s e 5 – 1 0 B u s i n e s s d a y s A u t o m a t e d t e a m s : 3 – 5 d a y s ; S M B s w i t h p a r t i a l a u t o m a t i o n : 5 – 1 0 d a y s A c c o u n t R e c o n c i l i a t i o n s ~ 3 0 % o f f i n a n c e t e a m t i m e % o f t o t a l f i n a n c e e f f o r t M a n u a l r e c o n c i l i a t i o n s c o n s u m e ~ 3 0 % o f t i m e ; t o p p e r f o r m e r s s t i l l s p e n d ~ 4 0 % o n d a t a g a t h e r i n g I n v o i c e P r o c e s s i n g 2 – 5 B u s i n e s s d a y s I n c l u d e s r e c e i p t , v e r i f i c a t i o n , P O m a t c h i n g , a p p r o v a l a n d p a y m e n t s c h e d u l i n g C y c l e T i m e : I n v o i c e → S y s t e m E n t r y 2 4 H o u r s M e d i a n f r o m i n v o i c e r e c e i p t t o d a t a e n t r y i n A P s y s t e m ( A P Q C m e a s u r e ) E…
- P r ocess Benchmark T ime Unit Sour ce Not es M o n t h - E n d C l o s e 5 – 1 0 B u s i n e s s d a y s A u t o m a t e d t e a m s : 3 – 5 d a y s ; S M B s w i t h p a r t i a l a u t o m a t i o n : 5 – 1 0 d a y s A c c o u n t R e c o n c i l i a t i o n s ~ 3 0 % o f f i n a n c e t e a m t i m e % o f t o t a l f i n a n c e e f f o r t M a n u a l r e c o n c i l i a t i o n s c o n s u m e ~ 3 0 % o f t i m e ; t o p p e r f o r m e r s s t i l l s p e n d ~ 4 0 % o n d a t a g a t h e r i n g I n v o i c e P r o c e s s i n g 2 – 5 B u s i n e s s d a y s I n c l u d e s r e c e i p t , v e r i f i c a t i o n , P O m a t c h i n g , a p p r o v a l a n d p a y m e n t s c h e d u l i n g C y c l e T i m e : I n v o i c e → S y s t e m E n t r y 2 4 H o u r s M e d i a n f r o m i n v o i c e r e c e i p t t o d a t a e n t r y i n A P s y s t e m ( A P Q C m e a s u r e )…
This report is for CFOs, controllers, and finance leaders at $30–150M companies.
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