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Accounts Payable Outsourcing On The Rise: Keys to a Successful Implementation

July 14, 2021 12:00 pm

Finance Outsourcing is on the rise, and Accounts Payable is a key function that more CFOs in the United States are looking to move to a trusted BPO partner.  The Nearshore Procure-To-Pay Outsourcing market alone is projected to grow over 26% in the next five years.

Inflation, increasing wages, high turnover, and manual processes and inefficiencies in AP are some of the key reasons why outsourcing done right can solve many headaches for Finance Organizations that have “bigger fish to fry” than worrying about processing invoices and paying vendors on time.

With over 25 years of experience in Finance & AP Transformation, watch this recap with our Auxis experts to learn practical insights on what it takes to outsource AP for long-term success, and key considerations to watch out for when selecting your outsourcing partner.

Key topics for discussion:

  • Key benefits you should expect from outsourcing AP and how to position its value
  • What processes to outsource and what to retain across your end-to-end AP function
  • How to benchmark the performance of your current AP team to identify optimization opportunities as part of your outsourcing migration
    • Number of FTEs and total cost of your AP function based on your revenue size
    • Invoices processed per FTE
    • Cost per transaction
    • Processing accuracy & exception rates
    • And more
  • Key AP automation tools and capabilities to look for in your outsourcing partner
  • Location alternatives – onshore vs. nearshore vs. offshore
    • Costa Rica as a top destination for Shared Services & Outsourcing
  • The business case of AP outsourcing – typical savings and payback
  • How to structure a successful outsourcing migration & key lessons learned