According to the report, titled "Accounts Payables Outsourcing Case Studies: Benefits for Buyers, Sellers and Banks," companies stand to reap myriad benefits by outsourcing accounts payables functions. Done internally, these functions are manually intensive, fraught with error, and distract companies from their core competencies. Through outsourcing, companies actually save money, improve compliance with internal controls, and gain actionable data to improve their trading partner relationships and better negotiate trading terms. Evidence further shows that banks that offer these services develop closer relationships with their customers and achieve greater insight into their trading partner relationships, developing new revenue generation solutions.
"Outsourcing of highly manual, paper-intensive, non-core operations such as accounts payables is an excellent way for companies to reduce costs, improve controls and provide management with detailed, accurate and timely reporting," says Nancy Atkinson, senior analyst with Aite Group and author of this report. "While there are in-house software solutions, technology is advancing quickly, making it difficult for companies to stay on the cutting edge with in-house operations."
This 17-page Impact Note contains four Figures and provides case studies of accounts payables outsourcing implementations at one client each of Bank of New York Mellon's SourceNet Solutions, Inc. and Bottomline Technologies. It also briefly references the following vendors of accounts payables outsourcing technology: ACS, American Express Harbor Payments, AnyDocSoftware, BasWare Corporation, IBM, Infosys, IQ BackOffice, LLP, JP Morgan Xign, NextProcess, OB10, and Xerox.