Is it Time to Outsource Your Accounts Payable?

Consider a world where one does not have to chase invoices any more, wrangle through spreadsheets or race against payment deadlines in the past. For many companies, however, this paradise can be achieved by outsourcing accounts payable (AP). But is it the right move for your business?

Signs You’re Drowning in Paper
Let’s admit it, managing AP can be such a bore and a time waster. Here are some unmistakable signs that your in-house system has started becoming a burden:

Invoice stacks that keep growing: Are there physical or digital invoices piling up forming an invoice processing backlog?
Scarce resources: Do you find it difficult to balance between AP tasks and other core duties?
Entering data manually: Are you spending useful working hours typing invoice details?
Missed deadlines or errors: Do you ever encounter late payments or mistakes linked to manual processing?
No visibility: Do you lack insight into your cash flow and spending habits?