Pros and Cons of Outsourcing Accounts Payable Services
The Day-To-Day Dealings Of Outsourcing: The Reasons Why You Should Choose Our Services
We can tell you first hand that there are pros and cons to everything in life. Sometimes, though, the pros far outweigh the cons. That is true when it comes to outsourcing your accounts payable services.
The first thing we need to do is clarify the difference between outsourcing and automation because some people confuse the two. The main difference is how you handle your accounts payable services. Through automation, the company uses software to streamline everything, making your Ap department more efficient.
When you decide to outsource your AP services, you hire someone or a company to come in and do the work for you. There is a big difference there, concerning outsourcing AP.
Outsourcing Accounts Payable Services
The Darkness In The Cloud
Outsourcing has only a few downsides, but you still need to be aware of what they are.
1) Some feel there is a lack of control when you outsource your AP services. Some feel that using in-house staff to control what happens is more direct and efficient, and to a certain extent, they might be right. You do give up a certain degree of control. The person or party that comes in takes the reins and does the work.
Some people get finicky over the way someone else does something because it is not “their” way. Sometimes a person feels lost when they are no longer holding the reins. Say, for example, control freaks. They are known to exhibit that sort of behavior.
2) What happens when something goes wrong(and it will)? Some bosses feel there is no way to correctly navigate through the issue. The person might bring an issue to your attention(something that they found and you did not) and you might not know how to handle that.
3) What happens when the person or company you choose for your outsourcing accounts payable services has an internal issue? There might be a security breach of some kind. You might be left to pick up the pieces when something happens with the company you chose to outsource. You will be depending on this person or company for a great many things.
That is why you need to be very careful about which company you pick. Picking the wrong company could land you in some hot water.
4) There are exceptions for every company. Sometimes when you outsource AP, you find they are very selective. That means they will only process a few invoices(here and there)and leave the rest for you. Some outsource AP staff feel they can afford to be picky, particularly if they are getting paid a low wage for every invoice. You could walk away feeling as if you are not getting your money’s worth.
That might not be a deal-breaker(necessarily), but for some it is. Everyone has a preference. Something to keep in mind, though.
5) You could wind up with duplicate invoices. That means you are paying more money than you make. That is not something you want to deal with. That is why you need to be clear with the person or company you hire on how they will handle the problem.
The Benefits of Accounts Payable Services
The Silver Lining In The Cloud
It is time(now) to talk about the benefits of Accounts Payable Services. We want to be clear that the benefits are what you should focus on while keeping the other aspects in mind as you choose.
1) You can reduce the costs in a very big way. Some people get confused and shake their heads. They assume that outsourcing is just pushing the responsibility to someone else.
Here’s the thing, sometimes you have to pay your staff more to do a job we can do for less. There is the training and the extra time spent getting them to do the work.
An outsourced company or person(like us)comes in and does the job for less money, The only difference is you walk away feeling your money was well spent.
The other thing to think about is how you pay your staff. Your staff is paid by the hour. Our company is paid for each invoice we process. That is a game-changer right there. Our company will reduce your costs by at least thirty-percent(give or take depending on the job).
You will be making better business choices as long as you hire the right person.
2) Some people on your staff require more time for learning how to do something. Our outsourced staff comes in with the knowledge and experience in hand. We will do the work in less time than it might take to train someone from your staff. They will also use less paper. Since most companies are choosing to go paperless nowadays, that makes more sense.
3) You need to keep in mind that you are responsible for coverage at all times. What happens when the person who does the AP department is out sick or on vacation? It could be a few days before the person comes back. That person will have a lot of catching up to do when they do come back.
That could prove to be more of a hassle than it is worth.
We come in and delegate different positions to our staff. Our company trains a lot of people across a multitude of platforms(if that makes sense). Our company will leave no stone unturned. That means you do not have to worry about anything. You concentrate on the task at hand. Let us handle the job you hired us to do.
4) We have the technology to stay on track with things, even when we are not on-site. Our technology keeps you posted on everything in real-time. That proves beneficial if we have to step out for an hour or two. We cannot be there 24/7, and with our technology, we do not have to be. The work will be completed as if we are though.
5) Some people worry about control, as we discussed above. Our company reduces your worry and anxiety. You might have invoices you forgot or cannot keep track of. We will take care of that.
Simply put, we provide better resources at half the cost.
Please, do not forget to visit our site after you have read this. Let us know how we can help. Fill out the form. Leave a message in the box. Either way, someone from our team will respond very soon.
Portland AP Services
For professional Portland accounts payable services at a fraction of the cost of any Portland CPA contact us for all your accounting solutions. Overall, outsourcing your accounting tasks to a bookkeeping company should free up your time so you can concentrate on growing your business. Yes, this type of service does involve costs, but those are probably less than employing a full-time bookkeeper, and you get the benefit of having part-time services with full-time presence.
With accurate accounting in place, you can have peace of mind that any decisions you make will be informed, considered and right for your business. Fill out our quick questionnaire for a free custom consultation or send us a message on Facebook if you have something more specific to ask.