Best-in-class enterprises recognize the need for greater efficiencies, lower processing costs, and better visibility and control in time-sensitive business processes. To accomplish these objectives, companies have partnered with outsourcers in order to capitalize on greater economies of scale, specialized knowledge, and leading-edge technology.

However, companies have often been reluctant to outsource some financial processes, such as accounts payable (AP). Even though companies with best-in-class accounts payable processes are four times more likely than others to outsource their entire AP operations, just 16% of all companies currently do. Companies’ reluctance to outsource accounts payable is often based in unfounded fears and common misconceptions.