AP AR Outsourcing

Improve operational efficiency through AP and AR 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.

"Whoa, we are not so bad" in AP productivity

"Whoa, we are not so bad",  exclaimed a famous football club president facing his critics.  This, we are not so bad, is our conclusion after observing some of the results of a study carried out by mineraltree, a reputable American software company that offers solutions for AP automation.

Sistema Inmediato de Información del IVA - SII

The SII-Immediate Provision of Information is also an opportunity to improve - "And now what ..."

As we mentioned in our previous article on the Immediate Provision of VAT Information (SII), from last December 2, 2016, the SII has an already established date of entry into force: July 1, 2017.​

Why paying as late as possible can be reckless.

Waiting to pay a bill as late as possible may be a very short-term strategy, but it can be significantly penalizing.

Getting the most out of the Accounts Payable Department

Getting the most out of the Accounts Payable Department (part III)

This article is the third in a series of three, under the title "Getting the most out of the Accounts Payable Department", deals with the basic concepts that influence the productivity of Accounts Payable departments:

Getting the most out of the Accounts Payable Department (part II)

This article is the second in a series of three, titled "Getting the most out of the Accounts Payable Department", dealing with basic concepts that affect the productivity of Accounts Payable departments. In the first article in the series we talked about the cost of the process of Accounts Payable, in this second we deal with the improvements derived from automation and error rates, and the third will discuss fraud and duplicate payments, financial Controls and provider satisfaction. 

Getting the most out of the Accounts Payable Department (part I)

Effective management of working capital, defined as current assets minus current liabilities, is one of the oldest practices of financial management. Following this practise the maxim was developed that short-term needs should be financed with short-term cash; and long-term needs should be financed with long-term sources. The underlying goal for the business is therefore essentially to reduce operational risks and costs of financing.

Accounts Payable Indicators

3 essential indicators in Accounts Payable Management

A recent "Metric of the Month" from CFO.com shows us the damage that late payments can cause in the relationship between buyer and seller.  

Reasons for outsourcing accounts payable

10 reasons to consider outsourcing AP 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.  

foco en lo importante

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.

 

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