What are the main benefits of outsourcing accounts payable and receivable services instead of hiring in-house bookkeeping staff?
Answered at 8:27 in Digital Tools & Outsourcing Tips with Sara Snyder · The Progressive Agency Podcast
What are the main benefits of outsourcing accounts payable and receivable services instead of hiring in-house bookkeeping staff?
Outsourced AP and AR services provide peace of mind with a professional team handling these functions. It eliminates the need to hire, train, and replace full-time staff, which reduces hiring costs and turnover. Outsourcing also frees up existing employees to focus on higher-value services rather than administrative tasks, and avoids the challenges of training people in a remote work environment.
Full answer and detailsRead the whole answer, key facts and every other question from this episode
In short
Outsourced AP and AR services provide peace of mind with a professional team handling these functions.
Sara Snyder, Lead CFO at Progressive Agency · Digital Tools & Outsourcing Tips with Sara Snyder · The Progressive Agency Podcast · answer at 8:27
Key takeaways
- Outsourced AP and AR services provide peace of mind with a professional team handling these functions.
Quote to remember
“You have a team that this is what we do all the time. You're not having to retrain people or show people your process.”
— Sara Snyder
The full answer · about 3 min
Outsourced AP and AR services provide peace of mind with a professional team handling these functions. It eliminates the need to hire, train, and replace full-time staff, which reduces hiring costs and turnover. Outsourcing also frees up existing employees to focus on higher-value services rather than administrative tasks, and avoids the challenges of training people in a remote work environment.
Key facts
- Sarah Snyder has been at Progressive Agency for approximately three years
- Bill.com processes payment methods including ACH, credit card payments, and check payments
- Common bill payment schedules: net 30, weekly processing, or specific dates like the 10th and 25th of the month
People, companies and topics mentioned
More answers from this episode
- 3:10How does Bill.com streamline accounts payable processing for remote teams in agencies?
- 4:10How does Bill.com detect and prevent duplicate invoice payments?
- 5:52What payment scheduling options does Bill.com offer for managing cash flow timing?
- 10:20What additional accounting services beyond AP and AR do agencies need for better financial management?
- 12:28How does understanding agency-specific accounting practices improve cash flow and tax planning outcomes?