Production Schedule Adherence

Measures the percentage of invoices received that are free from errors in terms of pricing, quantities, and terms.

What it Measures ?

Measures how many invoices are correct.

Relevant StakeHolders 

Finance Teams, Accounts Payable

Why it Matters ?

Reduces errors in invoice processing.

In-depth Use Case / Real-world Example

A company producing electrical transformers tracks Invoice Accuracy Rate to ensure that suppliers submit accurate invoices. If the company receives 1000 invoices and 950 are free of errors, the Invoice Accuracy Rate is 95%. This KPI helps minimize disputes, reduce administrative overhead, and improve the overall efficiency of the accounts payable process.