Update at a Glance

January 25, 2007

New Aberdeen Research Predicts 2007 Will be Year of Accounts Payable Transformation

The accounts payable department is an area often overlooked for improvement, however, new research from the Aberdeen Group, the leading provider of fact-based research focused on the global technology-driven value chain, indicates that leading finance executives view AP as "the next frontier for improvement in the source-to-settle process". Aberdeen's Accounts Payable: Strategies for Success report shows that these executives are overhauling the function by redefining the department's mission, restructuring the organization, investing in automation and, in many cases, outsourcing.

Underwritten in part by SourceNet Solutions, Mellon's finance and accounting services arm, the report goes on to state that enterprises that automate the AP function see almost instant savings, while those that outsource their AP operations see an additional eight percent in overall savings from invoice processing alone. And, Mellon's AP experts estimate that, in addition to saving money, refining AP processes may help many companies:

• mitigate fraud and risk;
• boost productivity;
• improve recordkeeping; and
• improve planning and cash forecasting.

To download a complimentary copy of Accounts Payable: Strategies for Success, please visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410538&cid=3714

If you would like to discuss this report in more detail or have questions about AP outsourcing, I invite you to contact Mellon's AP experts at 1 866 768-7268 or business.development@sourcenetsolutions.com.