Outsourcing

Business process outsourcing, or BPO, can alleviate much of the back office data entry functions of an accounts payable department, but not all implementations are brilliantly successful. The third-party outsource partner tends to take the blame when things don’t go smoothly, but often, they aren’t the culprits—it’s the failure to train and engage them… Read More

By Loral Narayanan Just staying in the game is the primary focus of most companies today. Issues like cutting costs, downsizing, reducing debt, and unloading underperforming properties are at the top of every CEO’s mind. There is no question that we are all in a very difficult situation. However, there can be a silver… Read More

By Mike Sbrocco, Director of Finance/Controller, Junxure Outsourcing in finance continues to be a growing trend. When facing a major initiative such as automating the AP process, many finance leaders are asking whether it would be more cost-effective to build the solution in-house or, rather, “rent” it from someone else. The specific trends in… Read More

Outsourcing has been a hot topic in the AP world for a number of years now. At one point, it looked as though entire AP operations would be shipped overseas, or—at the very least—parceled out. The reality has not been that dramatic. Rather than outsource the entire AP operation, many organizations are looking to… Read More

Outsourcing has been a hot topic in the AP world for a number of years now. At one point, talk of outsourcing became so prevalent that it looked as though AP departments everywhere soon would have their processes parceled out or shipped overseas. However, that projection has failed to materialize. To get a feel… Read More

Although IOFM research shows that more than 99 percent of all accounts payable transactions are handled correctly in most organizations, some payment errors do inevitably occur—even when organizations have strong internal controls.

Although a one percent error rate sounds rather insignificant, it can often result in a sizable loss. Payment errors can result when AP is dealing with multiple vendors, numerous discounts and allowances,… Read More

Software has made it easier for accounts payable departments to catch incorrect vendor payments before an invoice is paid. At the click of a mouse, AP can generate reports listing potential duplicate payments and fraudulent vendors. Thanks to these auditing solutions, businesses are capable of catching a majority of payment errors on their own.… Read More

by Jennifer B. Dunn, CTP Senior Vice President, BB&T The Challenge After years of ever-changing predictions and much debate about the eventual disappearance of the paper check, we are, at long last, seeing a decline in check volume as electronic payment volume increases. While likely a reflection of corporate efforts to move from paper-based… Read More

Outsourcing is a loaded word. It includes images of organizations sending their entire accounts payable operation to a low-cost overseas outsourcing firm. While this can be the case, outsourcing actually comes in several different flavors. Rather than outsourcing their entire departments wholesale, many organizations outsource specific duties or functions within AP. For example, an… Read More

Everyone has heard the stories of employees losing laptops filled with private records on the subway or of cyber criminals breaking into a company's computers and stealing customer data. With more and more information being stored electronically, keeping private records secure is a challenge all organizations face. Companies that outsource accounts payable functions face… Read More

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