Boston, MA, October 31, 2007
– A new report from Aite Group, LLC considers accounts payables functionality and makes a case for the outsourcing of this function. Through two case studies, it reveals how outsourcing the
function can resolve existing problems, lower costs and further improve processes, and efficiencies.
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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.
Clients of Aite Group's Wholesale Banking Service can download the report by clicking on the icon to the
right.
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