How is the Straight-Through Processing Rate (STP) defined?

The Straight-Through Processing Rate (STP) is defined as the total number of documents processed divided by the number of documents processed automatically. This metric is crucial as it measures the efficiency and effectiveness of an automated processing system. A high STP rate indicates that a significant portion of documents is being handled automatically without the need for human intervention, which is a key advantage of automation.

By focusing on the proportion of documents that are successfully processed through automated means, organizations can assess the performance of their systems and identify areas for improvement. A higher rate typically correlates with reduced processing time and lower operational costs, which are primary goals for businesses implementing automation solutions.

In contrast, the other options focus on different aspects of document processing, such as manual reviews, corrections, or total time spent, which do not specifically reflect the efficiency and automation level represented by STP.