Are you thinking about saying goodbye to costly in-house accounts payable departments? Maybe you've heard about or even considered opting for outsourced accounts payable if you're a startup or micro-firm. In fact, even medium-sized and larger entities routinely outsource their AP functions for a variety of reasons. Here are three common scenarios when AP outsourcing can be a smart move, based on entity size:
- Outsourced accounts payable for medium-sized businesses: Owners of middle-sized corporations sometimes bring on a third-party accounts payable team to assist the in-house department during peak work seasons or special projects that demand "all hands on deck."
- Outsourced accounts payable for large companies: Larger entities often prefer to focus on core expertise, like manufacturing or engineering, while outsourcing AP to a trusted third party.
- Outsourced accounts payable for small businesses: Most smaller companies simply don't have a need for a full-time, in-house AP staff. Startups and micro-companies usually start their corporate lives with outsourced accounts payable teams to save money and time.
Why Hire Outsourced Accounts Payable Teams?
In general, owners opt for outsourced accounts payable for small businesses, outsourced accounts payable for medium-sized businesses, and outsourced accounts payable for large companies based on a number of factors. Often, they choose a third-party AP team for a combination of reasons, among the following:
- Coverage: Do you need 24/7/365 coverage without the cost and headaches that often come with maintaining a full-time, in-house AP team? Then outsourcing is probably a good fit for you.
- Tracking: Outsourced AP means you have access to all your detailed accounts payable data anytime of the day or night. Even though the function is not done in-house, you'll be able to track any metric or trend in real-time via online access.
- Error reduction: Professional, dedicated AP outsource teams can take your error-prone spreadsheets, clean them up, remove glitches, and streamline the entire process with fewer errors.
- Enhanced control: You'll never lose or lose track of an invoice when you opt for an outsourced accounts payable team. You'll never have to track, find, or research an invoice again. That means more time to focus on your company's core expertise.
- More resources: It's a fact that BPO (business process outsourcing) providers have larger, more experienced, and dedicated teams that focus on one or two specific functions, like AP, AR, or inventory control. When you hire an outsourced AP team, they're ready to work on day one, have the bandwidth to handle heavy or light workflow, and can put as many or as few people on a project as necessary.
Taking the Next Step
Whether you are in search of an outsourced accounts payable solution for your company, Atlanta-based Fusion CPA has the permanent, experienced team to get the job done. Our professionals have the depth of knowledge and years of on-the-ground experience to handle anything you need to grow your organization.
Maybe you need a hit-the-ground-running AP team to finish off a major project or work alongside your in-house squad during peak season. Regardless of the scenario, feel free to contact a Fusion CPA professional for a no-obligation Q&A session over the phone or face-to-face. We look forward to assisting company owners in every segment of the economy, from startups and micros to established Fortune 500 corporations. We look forward to hearing from you. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
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