Accounts payable outsourcing
The administration of accounts payable and receivable is an operational burden for any business. It is a burden because of the difficulty in employing processing staff and managing a host of suppliers, vendors, rates and information.
Our accounts payable and accounts receivable outsourcing service is designed to help you tackle this. While we take away your burden, you also will get a cost saving of about 50%.
We are happy to use your existing accounting or invoice processing software or we can recommend the right software based on your need. We can learn your systems, processes and do the work exactly as you do and prefer to do. Our accountants will study your process, create documentation and conduct trial runs before planning for the full transition.
Our services are totally customizable to suit your requirements. We can handle some or all of the accounts payable and accounts receivable processes for you:
- Receipt of Invoices – Receive your supplier invoices from all your suppliers by email or via post at our scanning centre in the UK
- Data capture – Data processing experts and OCR software to extract information from invoices
- Quality assurance – Data checking staff to match every line of captured information to ensure 100% accuracy
- Data porting – Export data to software of your choice like Oracle, SAP or any other accounting system
- Data matching – Invoices matched against POs and other data
- Approval – Code invoices with department codes and forward for approval to right people using a simple web interface
- Resolve issues – Create list of exceptions for internal resolution based on the pre-defined rules
- Storage – Store and maintain documents in the system for a minimum of 6 years and back-ups
- Reports – Produce custom reports, graphs and statistics
Why use our accounts payable service?
- 10+ years' experience working with UK businesses
- Up to 50% cost savings compared to in house accounts payable
- Qualified accounts payable experts with several years' experience
- Reduce processing time and increased efficiency
- Cloud technology and HMRC approved system