Update at a Glance

January 30, 2008

New Aberdeen Research Indicates AP Function is Ripe with Opportunity for Makeover

The accounts payable department is often overlooked as a tactical, back-office function, however, new research from the Aberdeen Group — the leading provider of fact-based research and market intelligence that delivers demonstrable results — indicates that the AP function is "ripe with opportunity for a makeover." Aberdeen's Accounts Payable Transformation: Better Faster, Cheaper report states that best-in-class enterprises credit outsourcing and automation of AP functions with enabling them to excel in many performance metrics, demonstrating:

• Invoice processing costs 88 percent lower than those achieved by their peers.
• Invoice processing cycle times that are 52 percent faster than those attained by their peers.
• 66 percent higher rates of on-time payments.

Underwritten in part by SourceNet Solutions, The Bank of New York Mellon's finance and accounting services arm, the report goes on to state that more companies are realizing the significant savings and operational efficiencies that can be delivered from AP through automation and outsourcing services. And, The Bank of New York 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 Transformation: Better Faster, Cheaper, please visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410538&cid=4188

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