accounts receivable and accounts payable outsourcing

Improve operational efficiency through Accounts receivable and Accounts payable Outsourcing

Today, companies manage a complex global ecosystem of suppliers, partners, operators, customers, ... and at the same time process a large number of administrative and regulatory documents. This reality requires agility and efficiency in the management of documentation and invoices, in order to optimize operational efficiency and to avoid a high consumption of resources. However, it is surprising that today, despite the enormous advances in automation and technology, almost 75% of the documentation is processed manually. This situation is obviously very labor intensive and undoubtedly affects the results of the companies. Accounts receivable and Accounts payable outsourcing is the solution for this.

Reasons for outsourcing accounts payable

10 reasons to consider outsourcing Accounts Payable tasks (Part II)

Our last post consisted of the first part of the reasons for, or that should at least be considered, in the outsourcing of AP tasks.  In that post we spoke about the justifications, such as cost optimization, process automation, application of workflow technologies and solutions, cost flexibility or the standardisation of costs.  

outsourcing accounts payable

10 reasons to consider outsourcing AP tasks (Part I)

95% of companies listed on the NASDAQ have outsourced part or all processes associated with Accounts Payable (AP), while in Spain, currently only 17% of companies in the IBEX have adopt this strategy of outsourcing. Many AP departments use outsourcing as a way to improve the operation of its processes, but outsourcing does not have to be complete, hence, depending on what is not outsourced, and to what extent, benefits arising are different.

eliminate the I in ROI

Remove the "I" of ROI (Return On Investment) in Invoicing processes

Ironically, the phrase “To save money you have to spend money” is accepted as an axiom.

Based on the concept of "return on investment" for years companies have invested huge amounts of money on the latest and most efficient technologies with the expectation of maximizing profit, only to be disappointed in the long run.

Policies based on outsourcing are based on financial strategies transforming CAPEX into OPEX strategies.

business process outsourcing

Business Process Outsourcing: Why not Outsource Accounts Payable?

We all know the answer to the question: What can potentially be outsourced? Those processes and tasks that do not add value to the company or are not aligned with the main business objective the Company are likely to be delegated to third parties.

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accounts payable outsourcing

How the cost per invoice changes when outsourcing accounts payable

The area of accounts payable is one of the areas that allows a large saving in the company if orientated adequately.  Externalization is one of the best forms ways of achieving this saving and efficiency.  

However, to evaluate this possible improvement and  to be able to compare it, it is necessary to quantify it in a way which is real and close to the true cost of paying an invoice.

accounts payable outsourcing

Accounts Payable Outsourcing: competitive advantage for the company

Gaining a competitive advantage allows the companies to, among other things, move more quickly, increase profitability and gain market presence.  Generally the easiest process to control to increase profitability is the reduction of costs, ahead of the more complex strategies to increase sales.

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