would use the term KPI with reservation.
However, I would develop statistics along the lines of:-
Number of reconciliations
Number of Unreconciled items
Forecasting accuracy by ( Bank/AR/AP) %
Number of account coding corrections
Number of training hours
Number of PD Hours
Actual staff hours
Number of interdepartmental replies(non routine)
Number of external interactions (Non AR/Non AP related)
Number & $$$'s of unresolved items
Number & $$$'s of unexplained variances
Number & $$$'s of late fees Or penalties paid
AP/AR related indicators
Number of unplanned cheque runs
Number of stale dated cheques
Observe the trend for the Finance Dept. on month by Month basis and look for unusual high's/low's which should raise red flags
(A/P Manager at Verizon) | Oct 23, 2013
I have tracked the first three on the Payables list. It was necessary to track A/P aging and unbilled payables as it identified how we did in resolving vendor invoices and requesting vendor credit/rebills.
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Member's Profile
Steve Peterson
(VP Marketing and Channel at CellarStone Inc.) | Mar 4, 2013
How about the following in addition to above to measure efficiency:
* Budgeted time on projects vs actual
* Dollars saved from employee suggestions
* Accounting system downtime (during normal biz hours)
* Billing accuracy
* Managers time accessing general ledger
* Manual transactions vs automated transactions
* Number of customer calls in a test week (3rd week of each month)