Many small business owners prefer outsourcing their AP but an equal number of owners hesitate to avail of Accounts Payable outsourcing services. So, if you are debating about whether or not to outsource your AP process, consider these pros and cons first.
6. PROS
4AUTOMATED
TRACKINGEven though the task is being done by
outsourcing firm, the newest
technology allows to track each step
of the Account Payable process
instantly.
7. PROS
5 FEWER
ERRORSHuman errors can lead to the costly consequences.
However, outsourcing your accounts to firms can
mean fewer errors, thanks to the software involved.
8. .
THE CONS OF OUTSOURCING
ACCOUNTS PAYABLE
#1 Loss of Control
#2 Dependency on
the AP Firm
9. CONS
1 LOSS OF
CONTROLWhen you outsource your Accounts
Payable process, you do give up control
when it comes to how the AP is being
handled.
10. CONS
2DEPENDENCY
If you outsource your Accounts
Payable, you will depend on that firm
to do the work. If something were to
happen to them your AP would be
put at risk.