Business Office

Accounts Payable: % of invoices processed in under three business days of receipt in the AP/AR Unit

100.0%Jun 2022

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Partners
  • Department of Finance & Management
  • State of Vermont Treasurers Office
  • DVHA Vendors
  • DVHA Contractors
  • DVHA Grantees
Story Behind the Curve

This performance measure is important because it informs management and employees about how efficiently the unit is managing the financial and business aspects.

The Business Office utilizes KPIs to locate barriers to successful operations and design strategies that will lead to better performance.  Internal influences include properly trained Accounts Payable (AP) staff, and having trained backup staff to fill in when key AP positions are out of the office or vacant.  External influences include insuring that invoices are correct and ready to pay when received in AP. This may involve training other DVHA staff and reach out to vendors.  An annual influence is the June/July period.  Contract invoices received mid to end of June cannot be processed until July due to the Department of Finance and Management guidelines for year-end closeout. Because of this, the percentage of invoices processed more than three days after receipt greatly increases.

Due to the COVID-19 pandemic, the DVHA AP/AR Unit began working remotely on 03/16/2020.  New procedures for processing AP remotely were created.  The new procedure follows all policies, procedures and internal controls and is more timely than the procedure we have in the office environment. 

As of October 2020, the team has had an opportunity to re-evaluate processes and priorities which we feel will increase accuracy, process time, and all-around team knowledge of our activities. Our goal continues to remain at processing all invoices within 3 days and understanding our roadblocks when that goal isn’t met.

During the months of August & September 2021, our percentage decreased as a result of additional information needed from other units to process invoices and time constraints beyond AP/AR’s control.  In September 2021, the invoices that were processed over 3 days, were processed in no more than 5 days upon receipt.   

Last updated:  10/15/2021

Scorecard Result Container Indicator Measure Action Actual Value Target Value Tag S R I P PM A m/d/yy m/d/yyyy