St. Paul, MN – (Market Wire) – January 16, 2007 – API Outsourcing, Inc., a leading Business Process Outsourcing (BPO) provider of state-of-the-art invoice automation solutions, announced today the completion of an accounts payable research study entitled Accounts Payable: Strategies for Success. The research was conducted by one of the preeminent independent research companies, AberdeenGroup (a Harte-Hanks Company) with underwriting support provided by API.
The research conclusions highlight the characteristics of Best-in-Class enterprises in efficiently processing invoices, in optimizing cash flow and maintaining competitively stronger trading partner relationships. These Best-in-Class leaders achieve an average invoice processing cost of $2 compared to an average of over $27 per invoice for other companies participating in the study. The use of outsourcing and cost-effective automation tools were found to be the key enablers to the leaders’ success.
“The business climate is ripe for Accounts Payable teams to accelerate their delivery of hard dollar savings to the bottom line and strategic value to the enterprise’s financial operations.” notes Andrew Bartolini, Direct of Research at Aberdeen Group. “Our research has shown that outsourcing the A/P function from firms like API can provide clear and compelling bottom-line savings. We believe that companies that fail to focus on driving value through this function in 2007 will lose ground on their competition.”
API sponsored this research to help further education on how businesses can best optimize their accounts payable processes. J. Peter Donlon, Executive Vice President, stated “Increasing buyer demand across all industries for accounts payable automation solutions has been closely followed by heightened organizational confusion over the most appropriate and realistic automation route to pursue. API decided to partner with the AberdeenGroup to assist companies in their efforts to make better informed decisions on how to best achieve success. Not only does the report provide key A/P benchmarks, it also provides specific action steps for implementation. We partnered with the AberdeenGroup to complete this unbiased, objective research as part of our own Company’s continuing commitment to Best-in-Class accounts payable thought-leadership.”
About API Outsourcing, Inc.
API Outsourcing, Inc. (API) is a leading Business Process Outsourcing (BPO) provider of invoice automation solutions for mid-size to Fortune 1000 companies. API delivers solutions to transform clients’ manual paper-dependent accounts payable, billing and document management processes into innovative automated processes. Headquartered in St. Paul, MN, the company currently manages over 280 million transactions for clients annually. Clients benefit from the significant increase in process efficiency, profitability and financial control. API uses Six Sigma techniques to deliver high quality, consistent service. API’s clients include Rayovac, EDS, Randstad North America, Affinity Plus Credit Union, G&K Services, AMN Healthcare and Lee Enterprises. Please visit www.apioutsourcing.com or call 651.675.2600 to learn more.