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The current recession is forcing corporate management to seek new ways to contain costs. One approach being used is to outsource corporate functions that can be performed as efficiently but less expensively by outside providers than by in-house staff. Accounts payable is a function that is often seen as a prime candidate for outsourcing. Other likely candidates are payroll, other accounting functions, human resources, and benefits administration. Despite all of the hype or success stories you hear, outsourcing is not always successful. Achieving the desired goals of efficiency and cost-effectiveness requires that companies conduct a comprehensive internal analysis to determine their outsourcing needs and a thorough search to find the provider that can best serve those needs.
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