This post attempts to identify few of the levers which can make the AP process automated, improve upon the overall-cycle time, increase accuracy levels and cut down the overall costs.
The potential of FP&A outsourcing has not yet been realized and it is important to analyze why customers have not adopted the outsourcing of FP&A in a meaningful way.
Developing solutions in-house vis-à-vis on-boarding an alliance partner (3rd party product companies in F&A space) to drive differentiation in F&A functions is a very tricky subject. Companies in F&A outsourcing business made different choices. We at Infosys BPO decided to focus on developing solutions in-house except in the case of a few strategic areas where developing solutions will have a long gestation period and there is network effect. In the last one year or so outsourcing companies have started to focus on developing solutions in-house as well.