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Organizations continue to streamline procure-to-pay processes, but some sources of friction remain, while new ones may emerge. This first-of-its-kind index attempts to measure and track the forces that are hindering payment processes.

The Friction Index needs your input, but we appreciate that your time is valuable. That’s why you’ll automatically be entered to win an Amazon Echo Dot when you take this 2-minute survey—it’s our way of saying thanks for helping us learn more about P2P friction. Thank you in advance for your help.

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1. What size business do you work for?

Large (over 1000 employees)

Medium (100-999 employees)

Small (<100 employees)

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2. What sector does your business operate in?

Construction

Media and telco

Public sector

Financial services

Utilties and energy

Healthcare and pharma

Technology

CPG and retail

Other

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3. Are you involved in the procure-to-pay process for your company?

Yes

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4. Which of the following best describes your primary job function?

Accounts Payable

Procurement

Treasury

Shared Services

None of the above

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5. We’d like you to think about some of the factors that may cause friction in the procure-to-pay process. Please read the list below and click on the 5 factors that cause you the most friction with your Suppliers. (SELECT FIVE)

Poor integration between accounts payable and our ERP system

Inability to adjust for international taxes

Number of supplier inquiries regarding invoice or payment status

Supplier never set up in the vendor master file/missing TIN information

Lack of automated exceptions workflows

Too many non PO-based invoices

Fraudulent invoices

Ability to pay vendors on-time

Lack of internal visibility into invoice status

High percentage of paper invoices received

Paper-based purchase order requisition and presentment processes

Errors in vendor invoices

Lack of automated approval workflows

High percentage of supplier payments made via paper check

Difficulty matching invoices to POs and/or proof-of-delivery documents

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6. Please estimate the number of hours per week you and your P2P team spend dealing with the following P2P issues:

Manual processes like paper invoices and paper checks

Invoice exceptions & errors

Supplier inquiries on payment status

Compliance-related challenges like international taxes

Fraud

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7. For each of the following potential causes of friction in the procure-to-pay process, please indicate how you feel about where your company is today relative to 6 months ago.

	In a better place now than 6 months ago	In about the same place now as 6 months ago	In a worse place now than 6 months ago
Overall satisfaction with your P2P process	Overall satisfaction with your P2P process In a better place now than 6 months ago	Overall satisfaction with your P2P process In about the same place now as 6 months ago	Overall satisfaction with your P2P process In a worse place now than 6 months ago
Cost of processing invoices	Cost of processing invoices In a better place now than 6 months ago	Cost of processing invoices In about the same place now as 6 months ago	Cost of processing invoices In a worse place now than 6 months ago
Visibility into your P2P process	Visibility into your P2P process In a better place now than 6 months ago	Visibility into your P2P process In about the same place now as 6 months ago	Visibility into your P2P process In a worse place now than 6 months ago
Exceptions in your P2P process	Exceptions in your P2P process In a better place now than 6 months ago	Exceptions in your P2P process In about the same place now as 6 months ago	Exceptions in your P2P process In a worse place now than 6 months ago
Cycle times of your P2P process	Cycle times of your P2P process In a better place now than 6 months ago	Cycle times of your P2P process In about the same place now as 6 months ago	Cycle times of your P2P process In a worse place now than 6 months ago
Satisfaction of your Suppliers with your P2P processes	Satisfaction of your Suppliers with your P2P processes In a better place now than 6 months ago	Satisfaction of your Suppliers with your P2P processes In about the same place now as 6 months ago	Satisfaction of your Suppliers with your P2P processes In a worse place now than 6 months ago

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8. How big a priority is it to you to remove friction from the procure-to-pay process in 2018?

A top priority for 2018

A medium priority along with other initiatives

Not a priority for 2018

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9. About what proportion of your payments to Suppliers are on time?

100%

90% to 99%

80% to 89%

Less than 80%

Has never been calculated as far as I know

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10. What are the biggest hurdles that you face in paying your Suppliers on time? (Tick all that apply)

Slow internal processes

Managing cash flow

Administrative errors

Lack of automation

Team capacity to manage the volume

Other (please specify)

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11. What is the longest number of payment days a supplier has experienced waiting for payment of an invoice from your company?

Less than 30 days

30 - 60 days

61 - 90 days

91 - 120 days

121 - 150 days

151 - 180 days

180 days - 1 year

1 -2 years

More than 2 years

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12. Who in your business is responsible for ensuring on-time payment to suppliers? (rank in order of importance)

Finance department

CEO

IT team - providing the tech to make it happen

The government - to enforce legislation and guidelines

The supplier needs to chase it

Other

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13. What country are you located in?

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14. Thank you for participating in the Friction Index from Tungsten Network. Since we’ll need to reach out should you win the Amazon Echo Dot, please type in your full name, company, phone number and email address below.

First Name

Last Name

Company

Phone Number

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15. Please let us know if you'd like to be contacted about the results of the survey.

Yes

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16. Please let us know if we can contact you about other Tungsten Network initiatives.

Yes