Improving Performance and Creating Added Value through AP Outsourcing
As companies search for ways to improve overall performance and create added value, outsourcing non-core business processes such as low-value functions in the accounts payable (AP) process is a perfect place to start. The market for AP outsourcing has witnessed many changes in recent years and what was once an emerging trend is now becoming a natural element of corporate services. Organizations are now exploring AP outsourcing services that can turn a cost burden into a competitive advantage that provides significant potential to reduce costs, leverage capabilities and deliver sustainable business value. While outsourcing the entire AP process may not be practical for most organizations, many companies are choosing to outsource certain functions while keeping full control of other more strategic AP functions in-house. This modular approach to outsourcing is gaining momentum in the market and is helping more companies improve the overall performance of their AP department.
Accounts payable outsourcing services are now recognized as an effective management tool that works to streamline and optimize AP operations and deliver operational and strategic benefits. Companies are looking for ways to harness value beyond cost reduction through consolidation and automation, in addition to achieving the commercial benefits including accessing and building capability, scalability and flexibility that support the company’s core business strategy. More and more companies now incorporate outsourcing as a strategy in business planning. A strategy that lets the company focus on providing improved client service, produce better products, and do a better job overall, in a more cost effective way, by outsourcing non-critical business functions.
AP outsourcing can transform manual paper intensive AP functions into a fully automated process. Per invoice processing costs and cycle times are reduced while increasing visibility and control of the entire business process. These tasks are accomplished without the expense of acquiring, deploying and managing additional technology and resources. AP outsourcing solution providers have the functionality to tailor a solution to address individual company business rules and integrate with all leading Enterprise Resource Planning (ERP) and enterprise-wide financial systems to deliver a unique set of benefits.
PayStream’s new report titled Optimizing Accounts Payable: Improving Performance & Creating Added Value Through Outsourcing examines the current demand for AP outsourcing solutions and serves as a reference guide for AP decision makers considering an Accounts Payable outsourcing solution. This report also includes an overview of leading AP outsourcing solution providers and case studies, organized for easy comparison.
Download a complimentary copy of the report today.