ATLANTA, Feb. 9, 2012 (GLOBE NEWSWIRE) -- The most recent publication of the PRGX Accounts Payable Productivity Index (APPI) report, released today by The Institute of Financial Operations (The Institute), indicates organizations across the globe are continuing to see improvements in key efficiency metrics that make up the APPI.
Developed in collaboration with APQC, the leading benchmarking and best practices research organization, the PRGX APPI measures productivity using eight core indicators of AP efficiency and effectiveness. The APPI provides valuable insight into AP performance trends, including best practices of top-performing organizations. It also gauges how AP performance is affected by process and organizational changes, as well as by the deployment of new technology.
The median APPI for 2010 increased by 2.5 percent over 2009, with improvements mainly driven by increases in efficiency in processing AP. This comes as more organizations and their suppliers continue to gain leverage through globalization, shared services organizations, electronic invoice processing, and advanced data-capture technologies.
Interestingly, the report showed that, while median APPI efficiency scores increased, top-performing organizations' efficiency scores decreased. This is a strong indicator that opportunities for enhancements become more difficult as organizations reach advanced levels of AP transformation maturity.
"The AP Productivity Index is a key focus of PRGX's investments in thought leadership in AP," said PRGX president and CEO Romil Bahl. "The report provides factual evidence regarding a number of best practices adopted by top-quartile-performing organizations, as well as potential ceilings for select productivity metrics."
"The Index has become a valuable tool for professionals in accounts payable," said Thomas M. Bohn, president and CEO of The Institute. "As we continue this joint research project with PRGX, we'll be able to establish benchmarks for AP departments to measure themselves against the best of the best," said Bohn. "CFOs and other top-level leaders can use insight from the AP Productivity Index to improve their organizations across the board."
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading provider of recovery audit services. With approximately 1,500 employees, the company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 30 global retailers. PRGX is also pioneering Profit Discovery™, a unique combination of audit, analytics and advisory services that improves client financial performance. For additional information, please visit PRGX at www.prgx.com.
For more information please contact:
PRGX Global, Inc.
Alexandra Gobbi, Vice President, Marketing and Communications
phone: +1-770-779-3253
fax: +1-770-779-3195
alexandra.gobbi@prgx.com
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
About The Institute of Financial Operations
The Institute of Financial Operations is the umbrella association comprising four membership affiliates for finance professionals: International Accounts Payable Professionals (IAPP), International Accounts Receivable Professionals (IARP), the National Association of Purchasing & Payables (NAPP), and The Association for Work Process Improvement (TAWPI). Based in Orlando, Fla., with offices in Boston and London, The Institute serves as a global voice, chief advocate, recognized authority, acknowledged leader, and principal educator for people in financial operations, with a particular focus on accounts payable, accounts receivable, procure-to-pay, automation, document management, and data capture. Combined, the associations have more than 6,000 members. Visit The Institute at www.financialops.org or contact:
Laureen Crowley, Editor in Chief
The Institute of Financial Operations
615 E. Colonial Drive
Orlando, FL 32803
phone: +1-407-351-3322 or 877-885-4277
fax: +1-407-895-5031
info@financialops.org
About APQC
APQC is a member-based nonprofit and one of the world's leading proponents of benchmarking, best practices, and knowledge management. Working with more than 500 member organizations worldwide in all industries, APQC provides organizations with the information they need to work smarter, faster, and with greater confidence. Visit APQC at www.apqc.org or contact:
APQC
123 North Post Oak Lane, Third Floor
Houston, TX 77024-7797
phone: +1-713-681-4020 or 800-776-9676
fax: +1-713-681-8578
apqcinfo@apqc.org