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Data from Dun & Bradstreet reveal that 93 percent of companies receive late payments and this impacts their ability to reinvest or to meet operational expenses. Manual Errors: Traditional AR and AP processes involve manual dataentry, which is prone to human errors. Struggling with Slow Payment Processing?
Skilled in-house professionals can let the outsourced team keep track of all dataentry tasks and simply oversee the completed records to ensure they’re error-free. This is especially beneficial if they’re already handling the bookkeeping tasks and AR/AP management. Many even offer this as their only service.
AI automates some processes, including bankreconciliation, lease accounting, approval workflows, depreciation, etc. Outsourcing of Accounting Functions Thanks to the many benefits of outsourcing accounting functions , most businesses embrace the new trend of outsourcing accountants, CFOs, AR/AP executives, and more.
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