Streamline financial operations, cash flow management, enhance accuracy and improve vendor relationships with our customized AP & AR solutions.
Experiencing delays in invoice processing due to manual accounts payable processes?
Missing payments or duplicate payments being rolled out due to inability in managing multiple vendors and suppliers?
Strained vendor relationships and financial losses due to lack of centralized AP processes?
Strained customer relationships leading to disrupted cash flow, bad debt, higher collection costs?
Facing difficulties in identifying patterns, and recurring issues due to lack of workflow automation?
Connect with our Experts
to get all Your Answers
As a finance leader, you don’t want to be in that spot where you lose earnest vendor partnerships due to delayed payments, do you?
All you need is an effective vendor management process in accounts payable!
Writing off the revenue as uncollectible is a heartburn to take, isn’t it? As a finance leader, you should always make an effort to keep the cash flow healthy with your customers paying invoices on time, don’t you?
This equates approximately to three business days!
As a finance leader, do you find it worth wasting your team’s productivity on tasks like collection while high-value tasks are suffering?
Accounts Payable is not just a transaction-oriented function. With the modernized business outlook, it’s a strategic business function that focuses on managing business capital efficiently to foster vendor partnerships.
Invoice processing and management
Vendor management and communication
Payment scheduling and execution
Expense Reporting and analysis
Purchase order management
Data entry and verification
Reconciliation of accounts payable records
Compliance and audit support
Vendor payment dispute resolution
Document management and storage
Invoice scanning
Invoice indexing
Invoice validation
Inter-company invoice processing
Non-PO/Expense invoices processing
Travelling & expense invoice booking
Freight invoices processing
Invoices stuck in the error queues.
Identifying duplicate invoices
Clearing out-of-balance invoices
3-way & 2-way matching, releasing the invoices for payment
Payment processing of PO & Non-PO invoices
Payments: Manual payments, Prepayments, Check payments, Check void and reissue, Wire payments, ACH payments
Managing Vendor accounts and resolving queries
Reconciliation: Vendor statement reconciliation, Inter-company reconciliation, GR/IR reconciliation (inventory reconciliation)
Manual Clearing
Supplier support via calls & emails
Vendor maintenance -new vendor creation, Address change, ACH set up, Change in banking details, Reactivation, Vendor merge/Factor Relationship, Vendor verification.
Month-end activities - Accruals & Provision
Vendor Debit balance working -Preparing debit balance letter.
Requesting refunds, resolving queries related to Dr balance, Sending warnings for collection letters.
Settlements
Credit memo processing
Credit reconciling
Chargebacks adjustment
Settlements
Are you losing even a percent of revenue as uncollectible or marking it as a bad debt?
You don’t need to do this, anymore!
With our dedicated accounts receivable services, you will be at peace with your worries about collectibles.
Invoice generation and delivery
Customer billing and payment processing
Collection and dunning letter management
Cash application and reconciliation
Customer account management
Aging analysis and reporting
Customer credit management
Payment reminder and follow-up
Bad debt management and recovery
Compliance with invoicing and taxation regulations
Invoice / Credit memo issuance
Payment /Cash application
Reconciliation: Debtors/Customer reconciliation & Bank Reconciliation
Collection letters
Customer service: Solving queries & providing support via calls & emails
Processing Sales returns
Customer aging reports and follow-ups
Manual Clearing
Accounts Payable is not just a transaction-oriented function. With the modernized business outlook, it’s a strategic business function that focuses on managing business capital efficiently to foster vendor partnerships.
Settlements
Are you losing even a percent of revenue as uncollectible or marking it as a bad debt?
You don’t need to do this, anymore!
With our dedicated accounts receivable services, you will be at peace with your worries about collectibles.
Manual Clearing
Inter-company reconciliation is another capability, that we offer.
To ensure consistent & frictionless internal procedures and foster stronger and long-term vendor partnerships.
Settlement services, month-end operations, and effective cash-flow management are some additional capabilities, that we offer. To help you streamline payment procedures & foster stronger customer relationships.
Inter-company reconciliation is another capability, that we offer. To ensure consistent & frictionless internal procedures and foster stronger and long-term vendor partnerships.
Settlement services, month-end operations, and effective cash-flow management are some additional capabilities, that we offer. To help you streamline payment procedures & foster stronger customer relationships.
Inter-company reconciliation is another capability, that we offer. To ensure consistent & frictionless internal procedures and foster stronger and long-term vendor partnerships.
Settlement services, month-end operations, and effective cash-flow management are some additional capabilities, that we offer. To help you streamline payment procedures & foster stronger customer relationships.
Payment processing is yet another overhead, that comes with great responsibility.
An inch here and there, and you land a hunch on your reputation.
All you need is the right accounts payable and receivable service partner – whom you can trust!
Payment processing is yet another overhead, that comes with great responsibility.
An inch here and there, and you land a hunch on your reputation.
All you need is the right accounts payable and receivable service partner – whom you can trust!
We start with verifying the accuracy and validity of the invoices received and proceed to the payment schedule based on due dates.
The invoices are then sent for approval to the relevant departments or individuals based on the organization's approval hierarchy.
Approved and verified invoices are scheduled for payment based on the organization's payment terms, cash flow, and vendor payment policies.
Payments are processed through the chosen payment method, such as electronic funds transfer (EFT), checks, or other payment systems.
The team reconciles the payment records with the bank statements to ensure accurate and complete payment processing.
All invoices, approvals, payment receipts, and reconciliation records, are filed and stored for future reference and audit purposes.
Vendor management plays a crucial role in both accounts payable and accounts receivable processes.
It involves establishing and maintaining relationships with suppliers and vendors to ensure smooth transactions, efficient financial management, streamlined operations and fostering of long-term partnerships.
Purchase orders are created timely, and tracked diligently. So that, the vendors are communicated about the order confirmation.
Invoices are matched with purchase orders before processing. This avoids discrepancies in adhering to the approval workflows.
We uphold vendor relationships to ensure streamlined operations & dispute- free, long-term vendor partnerships.
Vendor performance is monitored based on invoice accuracy, timely delivery & responsiveness to inquiries.
Vendor contracts are negotiated, managed, and renewed adhering to the set compliances with terms & conditions.
Risks are analyzed and managed with effective vendor assessments based on vendor financial stability & data security measures.
As a part of our account payable and receivable services, we can implement rigorous measures and utilize tools to detect and deter fraudulent behavior, to safeguard your organization’s financial assets.
Frauds like inflated or duplicate invoices, fictitious vendors, and altered payment details or any other irregularities are identified.
Unauthorized payments, check tampering, or fraudulent wire transfers can be detected through implementing robust payment monitoring processes.
Any signs of vendor fraud, such as collusion, kickbacks, or ghost vendors are identified by periodically reviewing existing vendor records.
Embezzlement, unauthorized access to financial systems, and manipulation of financial records are identified through internal control and periodic audits.
Unusual patterns, outliers, or suspicious transactions that may indicate fraudulent activities are identified by analyzing large volumes of data.
We implement robust internal controls, segregate duties, conduct regular audits, and employee training on fraud awareness and prevention.
Ans: With the help of a reliable accounts payable and receivable services company, you get to streamline your vendor & customer payments. Apt payment processing ensures that you foster lasting vendor partnerships and customer relationships. And besides the relationship part, you start practicing superior control of financial operations.
Ans: To ensure that we achieve complete accuracy and transparency with our accounts payable services, we practice a 3-way and 2-way matching mechanism. We also encourage the best practices to be followed whilst managing the vendor master data. In order to support your vendor queries with prompt responses, we have a vendor help desk in place.
Ans: Outsourcing accounts receivable services can bring you multifarious benefits such as improved and regularized inward cash flow, declining bad debt or collectibles, fostering customer relationships, and opportunities to focus on core business objectives.
Ans: We have a specialized team of experts that handles disputed invoices quickly and effectively, collaborating with vendors and customers to find amicable solutions and minimize disruptions to your cash flow.
Ans: Yes, certainly. It’s not something that you ask for, but something that we offer as part of accounts payable and receivable service. We offer you detailed insights into your financial performance, vendor and customer payment patterns, and trends. We believe this helps you in building better vendor partnerships and customer relationships.
With the help of a reliable accounts payable and receivable services company, you get to streamline your vendor & customer payments. Apt payment processing ensures that you foster lasting vendor partnerships and customer relationships. And besides the relationship part, you start practicing superior control of financial operations.
To ensure that we achieve complete accuracy and transparency with our accounts payable services, we practice a 3-way and 2-way matching mechanism. We also encourage the best practices to be followed whilst managing the vendor master data. In order to support your vendor queries with prompt responses, we have a vendor help desk in place.
Outsourcing accounts receivable services can bring you multifarious benefits such as improved and regularized inward cash flow, declining bad debt or collectibles, fostering customer relationships, and opportunities to focus on core business objectives.
We have a specialized team of experts that handles disputed invoices quickly and effectively, collaborating with vendors and customers to find amicable solutions and minimize disruptions to your cash flow.
Yes, certainly. It’s not something that you ask for, but something that we offer as part of accounts payable and receivable service. We offer you detailed insights into your financial performance, vendor and customer payment patterns, and trends. We believe this helps you in building better vendor partnerships and customer relationships.
Feel free to drop us a line at [email protected] & we will be happy to help you.
We look forward to prioritizing your success and transforming the way you do business.
We are a 20+ year old trusted Software Development Company based in Chicago with clients all over North America and Canada.
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