How can my Accounts Payable Department save money? 

A company’s accounts payable (AP) department can save money in several ways as defined below: 

1. Negotiating Payment Terms with Vendors: The Accounts Payable department can negotiate with vendors and suppliers for longer payment terms. It enables the company to save money in their accounts by delaying payment.  

2. Early Payment Discounts: Accounts payable departments can receive discounts offered by vendors for early payments. It allows companies to save on the cost of goods or services. It requires adequate cash flow in the company. Accounts payable outsourcing can help companies in effective cash flow management.  

3. Automation: Companies can automate their payment processes for accurate data with minimal human effort. Errors prolong invoice processing. Automation can reduce error-related costs. Reputed business process outsourcing companies, like ARDEM, can provide 99.7% accuracy using the latest technologies for invoice capture, data entry, validations, processing, etc. 

4. Outsourcing Trained Teams: Companies can outsource their Accounts payable department with ARDEM to avoid the costs of recruiting and training the staff. Scale up an Accounts payable team of skilled personnel quickly and conveniently.  

5. Reduced Processing Costs: Corporations, which shift to automation from manual Accounts payable can benefit from cost-effective invoice processing. Manual invoice processing can cost around $12-$13 per invoice. An automated Accounts payable system can reduce the cost per invoice significantly. 

Thus, companies can outsource accounts payable with experienced BPO (Business Process Outsourcing) service providers to leverage their latest technologies and business process automation.