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The Australian Benchmark Initiative was established to build a set of Finance benchmarks and facilitate the sharing of Finance better practice between Australian companies.  The 2015 benchmark initiative studies have now been completed, with a focus on:

 Purchase to Pay
Receivables
Payroll

The studies will allow you to assess: 

What does good look like?
How am I performing against my peers?
What are the attributes of a high performing function?
What is the optimal headcount for my team?
What should the cost of my function be?
What are the key trends?

In 2015, 95 of Australia’s leading organisation participated. With median revenue of $850 million, median headcount of 1500 employees, and 35% being ASX listed, the studies provided a good quantity and quality of respondent. 

RSVP FOR 2015 PUBLICATION LAUNCH!

The 2015 study is now closed, and results will be published via webinar on Friday 12 February 2016.   For more details, and to RVSP, please click here.

The reports will be free for those who participated, and will provide you with:

> A detailed analysis on better practice, including “what does good look like
> Benchmark key metrics by quartile - “poor”, “average” and “good"
> An understanding of future improvement strategies and trends
> An analysis of your performance against other organisations

Benchmark and better practice reviews

Many organisation's are looking to understand how they are performing against benchmark results and better practice process maturity.  The Australian Benchmark Initiative offers both desktop assessments (questionnaire based) and accelerated assessment (interviews & workshops) based on the benchmark studies.   These assist organisation's in rapidly identifying improvement opportunities to realise benefits.  More information can be found here.

Our sponsors

The Australian Benchmark Initiative is proudly sponsored by optim2 and optiBPO:

 

optim2 is a management consultancy that works with leading Australian companies to assess and improve their Finance organisation.  optim2 has deep expertise in:

> Strategic reviews of the Finance organisation
> Re-designing Finance processes
> Measuring the performance of Finance
> Leading Finance transformation initiatives

optim2 has built an enviable client list, with a large number of ASX listed, multinational and private enterprise references.

www.optim2.com

optiBPO assists Australian & New Zealand companies setup offshore operations in the Philippines.  The optiBPO model is unique, in that it sits between traditional outsourcing, and setting up your own offshore business.

www.optibpo.com

Benchmark metrics

Along with a range of qualitative information in relation to process attributes, a range of metrics are collected and analysed.   The Australian Benchmark Initiative has attempted to choose a straightforward set of metrics that would be easily understood across the broad range of participants.

In 2015, for each metric quartile measures will be provided (bottom, median, top) for the following:

Purchase to Pay

1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Invoices processed per FTE
4. Purchase Order penetration
5. Purchase Orders after the event (%)
6. Matching tolerance ($ and %)
7. Payment cycles (#)
8. Standard payment terms


Payroll

1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Payruns per pay cycle type

4. Headcount processed per pay cycle
5. Timesheets processed per pay cycle
6. Percentage of "out of cycle" payments


Receivables

1. Full Time Equivalents (FTEs)
2. Average gross salary
3. Active customer accounts managed per FTE
4. Days Sales Outstanding (DSO)

5. Percentage of debtors > 60 days
6. Remittances processed per FTE
7. Payment types (electronic/cash)
8. Standard trading terms

Chartered Magazine article

Chartered Magazine, in their April 2014 edition ran an article on the Australian Benchmark Initiative.   That article can be downloaded here.