Medius launches unique benchmarking capabilities for accounts payable automation

Medius, a global provider of accounts payable (AP) invoice automation solutions in the cloud, can now offer its customer base unique benchmarking capabilities as part of the MediusFlow AP invoice automation solution.
"Because MediusFlow is a true cloud solution we can consolidate data from hundreds of customers using the same standardized process and present unique benchmark figures based on real life business processes rather than interviews or estimates”, says Per Åkerberg, CEO of Medius.

Powerful analytics tools to measure AP process performance

MediusFlow customers will also get access to a suite of powerful analytics tools that allow them to measure and track accounts payable process performance on a number of key performance indicators (KPIs), such as:

  • Automation level: the percentage of invoices that pass through a fully automated and touchless process.
  • Lead time: the number of days it takes for an invoice to be processed, from import into the AP system to posting in the ERP.

Continuous improvement of the AP process

The new analytics tools along with a set of highly relevant benchmarks will help MediusFlow customers break down performance KPIs and pinpoint which parts of their organization are performing well/poorly, what suppliers are causing errors in the process, exactly what type of deviations or other problems these suppliers are causing, etc.

By introducing these KPIs and benchmarks we want to challenge our customers to review their current process, compare their performance with their peers and work on continuous improvements towards the goal of touchless AP invoice processing,” says Daniel Saraste, Global Product Director at Medius.

For more details on these new benchmarking capabilities, click here.

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About Medius

Medius is a leading provider of AP invoice automation solutions in the cloud. The solutions MediusFlow and Ascendo automate and simplify the entire P2P process. The company has 1,700 customers worldwide processing 45 million invoices annually, with high density in retail, manufacturing and services. Founded in 2001, Medius now has 200 employees working out of offices in Sweden (HQ), Norway, Denmark, Poland, the Netherlands, the United States, Malaysia and Australia.