Accounts Payable
Up to 80% Savings With Accounts Payable Outsourcing Services

Accounts Payable Outsourcing Services

What are the Accounts Payable outsourcing savings? The hunt for lower AP costs has led many businesses to Accounts Payable outsourcing. It’s a great way to improve performance, streamline operations and reduce costs. How much cost savings can companies realize? Switching to an automated, electronic invoice outsourced provider can generally reduce the cost per invoice from $10.00 to less than $3.00.

  • Did you know?

    Companies report up to an 80% reduction in labor and its associated costs by outsourcing.

    Have questions, need a quote, let us help – 800-211-5988

Accounts Payable Outsourcing Reduces Processing Costs

Processing accounts payable invoices can be expensive for your business. But can you save money with an accounts payable outsourcing partner? A survey conducted by the International Accounts Payable Professionals (IAPP) found that it costs, on average, $8 to process an invoice manually; other firms report processing costs are as high as $10-$20 for a single paper, fax or email invoice! Located in St. Louis and Farmington, MO, we process accounts payable at cheaper rates than those headquartered out of east and west coast data entry companies. Save money by outsourcing to a company with low midwest rates.

Calculating the Cost of Processing Invoices

Many organizations often don’t know how much it costs them to process each individual invoice, but “cost per invoice” is an important metric to understand, and it isn’t difficult to calculate. If you have a dedicated Accounts Payable department, simply divide the cost of running the department by the number of invoices processed. For example, if it costs $10,000 to run your AP department each week and they process 1,000 invoices. Each invoice costs your organization $10. (There are many ways to calculate your company’s cost per invoice. This survey does a great job of covering some of the most popular options.)

What Does it Take to Outsource Accounts Payable?

To achieve the greatest value from outsourcing Accounts Payable, the entire process should be fast and require a minimal implementation to keep internal costs, set-up and training at a minimum. Even with outsourcing, it’s important that the organization keep an accounting team for invoice decisions that can require an accountant’s review. The vast majority of invoices, however, can be easily automated with business process automation software – meaning your staff won’t need to review items that don’t need human expertise.

Accounts Payable outsourcing offers many benefits to businesses including:

  • Reduction in labor costs – companies report up to an 80% reduction in labor and its associated costs.

  • Lower per invoice costs – on average under $3 per invoice.

  • Fast, seamless implementation into your existing enterprise systems

  • Custom configuration for your business – systems can be cloud-based, installed locally at your location, or a combination of the two.

  • Improved accuracy – businesses have reported paying up to $50-75 to handle each invoice error. A strong outsourcing partner uses sophisticated error identification and correction systems to reduce errors and costs.

  • Complete audit trails and instant record and reporting systems.

  • Routing of invoice deviations via smartphones or web browsers.