CHRIS McCANDLESS
Portland, OR

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Finance

NO BUSINESS IS AN ISLAND

By on July 20, 2017

Have you ever heard of the phrase “No man is an island”? It’s a classic statement that implies that no man can survive on his own. If you think about it, it’s actually very true. Just try imagining living in a world where it’s you and you alone. Sure, you could learn how to fend for yourself. But, having no one to socialize with is emotionally and mentally detrimental. If that’s the case for a person you could go as far to say that it also applies to a business. Any type of enterprise will need help one way or another. Outsourcing has become a popular maneuver several businesses undertake because it frees so many resources for them. They don’t have to worry about training, manpower, or even office space. There are businesses with the sole purpose of providing these outsourcing capabilities.

Invisible but Important

One popular service that businesses choose to bring in from independent providers is the account payable process. Any business owner knows that this step is integral to their success. It may not be something the public sees but that doesn’t mean it’s any less important. When you’re running a business, you know how many payments and bills are accumulated over time. If you visit an office that does this sort of work, oftentimes you’ll see piles and piles of paper shuffling around. These are basically bills with payments due to them. It is a critical process because companies can get in very big trouble if they have delayed payments.

Accounting No More

That’s why several companies hire the help of independent 3rd part agencies to take this on. It’s like an all-in-one package. These service providers offer end to end ownership. From organizing the accounts payable documents, streamlining processes, and offering insights and solutions, these are unique capabilities that businesses seek help in. Of course, the owning business is still accountable for the results and must keep a vigilant eye on the accounts payable services. But, it means they don’t have to burden themselves with thoughts of adding more headcount and office space just to process their bills. The training for that could even take a long time and require a lot of capital just to get off the ground.

Systematic and Automatic

For an entrepreneur, it’s exciting when your business rapidly grows. You get more customers, hire more people, and get a bigger and newer office space. One of the “good” problems you face, however, is learning the ropes of processes that you didn’t have to deal with when your business was of smaller size. Being bigger means having more consumers to please. Looking towards accounts payable services can create automatic solutions for you. They’re more equipped and know the ins and outs of providing top of the line services. Plus, it’s a great way to learn a process that you may not be totally familiar with. If you hire the experts, there’s no other direction for your business to go but up.

 

 

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