Accounts Payable Dashboard is an integrated data visualization system that allows measuring and monitoring the performance of accounts payable, or those invoice payments an organization must accomplishes for benefit of its suppliers, vendors and contractors. The dashboard provides various status reports which include a range of performance ratios and indicators.
Accounts payable dashboard plays an important role in supporting a company’s record-keeping process. It contributes to the achievement of the following objectives:
- Register financial information about a company’s debts and financial obligations to suppliers
- Verify payments with timeliness and accuracy
- Ensure payment audit and control
Any report created by accounts payable dashboard consists of certain key performance indicators. KPIs help gain insight into a company’s financial duty in terms of ratios, percentages, numbers and special metrics. Here are some examples of accounts payable KPIs:
- Prioritized payables accounts
- % of payments made to suppliers
- % of payments overdue
- Accounts payable aging summary
- Accounts payable to sales ratio.