I work with a professional organization in the Accounts Payable space that is currently spending a lot of time on bringing members together to network and to share ideas about best practices. There is no shortage of people that are willing to speak about their experiences. People are often eager to dispense anecdotal wisdom. What is more difficult to come by however, are the benchmarks and metrics that help to gauge and measure success. Either people to not want to reveal the the report card they have compiled along their bumpy road or they did not keep a report card to begin with.
Benchmarking, Dashboards, Metrics, Report Cards, these things are a lot like the vegetables of the corporate world. We all know that they are good for us, but we do not always want to partake. Not surprisingly however the people and companies that use tools to measure and improve their performance are usually in the best operational and financial health. They same can be said of physical health for those among us who love the green food group.
Find links to key industry benchmarking docs below. Take a look and see how you stack up. You will need to either download or become a member to view the data.