Outsource Accounts Payable Services

Outsource2india’s Accounts Payable outsourcing services at India are focused at transforming our customers entire payment activity by effectively automating the processes of documents management, transaction management, exception resolution, elimination of duplication and disbursement-related services.

Our Accounts Payable Outsourcing Services at India offer our global customers the flexibility to outsource all or part of their accounts payable business functions.

The Accounts Payable Outsourcing Services provide you with the advantages of cutting edge technology and skilled staff without having to invest in these or buying and maintaining expensive software. We provide industry best practices including Sarbanes-Oxley compliance leading to reduced discrepancies and greater financial control which finally translates into enhanced profitability.

Our Accounts Payable Services

We provide Accounts Payable Services to customers all over the globe, including customers in UK and USA. The end-to-end solution includes the following:

Data Capture: Receipt and management of all paper-based payables documents. This includes:

Sorting
Batch preparation
Scanning
Document indexing
Document storage and retrieval
Receiving and processing incoming mail
Audit and reconciliation of scanned invoices
100% availability of scanned invoices

Data Processing - Exception Management/Resolution: Resolution and proactive management of exception transactions. This includes:

Approval and exception routing
Shortened month-end closing process
Documented audit trail

Suspect Duplicate Analysis: Audit and control mechanisms to eliminate the risk of duplicate payments and support recovery and reclamation through:

Manual and automated data entry
Three-way database matching
Electronic invoice processing

Disbursement Services: All aspects of payments in minimal time to reduce customers’ floating costs.

Print and distribution of checks
Secured maintenance of check stock
Online check proofing
Return check handling
Electronic payment handling
Special invoice mail handling

Outsource2india’s Other Accounts Payable Services: Our Accounts Payable Services also include accounts payable reports, utility bill management, travel and expenses processing, tax reporting, supplier management, special project reports, and customer service.

Read about O2I’s reliable, flexible accounting services for UK companies using Sage Accounting Software.

State-of-the-art Workflow Technology

Step 1 - Invoice Receipt: Customers’ hardcopy and electronic invoices are received.

Step 2 - Image and Data Capture: All documents are stored as images and all invoice images are viewable.

Step 3 - Process and Route: Invoice documents are processed according to previously agreed upon business rules with the customer. Invoices are routed to the relevant customer executives for approval and final resolution.

Step 4 - Disburse and Archive: An approved invoice is uploaded to customer’s A/P system for payment through standard interfaces on all accounting platforms. The invoices are then posted to the General Ledger as ’normal’. We also perform disbursements. The hardcopies are stored at our facility and the electronic images are searchable online.

5 Key Benefits of Outsourcing Accounts Payable Services

Your invoices will be paid before the due date
You can access monthly, quarterly or annual reports
Your vendor will ensure compliance to SOX
View co-relations between checks issued & invoices that have received payment
You can leverage accounts payable expertise while cutting down on costs

Why Outsource Accounts Payable Services to India?

Efficiency and accuracy facilitated by our advanced workflow and imaging technology, adherence to industry best practices and high levels of quality.
Our processes provide customer up-to-the-minute information on invoice (amount, vendor, date) process stage, approvals (who approved it, when), exceptions (price discrepancy, quantity discrepancy) as well as all outstanding liabilities for the organization.
We provide 24x7 customer service to facilitate prompt response and resolution to customer/vendor inquiries.
Our web-based reporting system maintains the highest level of security of customer data at the same time allowing the customer real-time tracking.
Improved business intelligence facilitated by the big picture available to the management
Improved financial control made possible by our transparent processes and 24x7 secure web access to customers
Reduced invoice discrepancies and disputes
Strengthened Vendor relations
Online repository for easy access to invoice transaction audit trail and access to supporting documentation required for audits

We have over 18 years of experience when it comes to offering accounts payable services. Read our article on AP automation predictions for 2017 and beyond to know what's in store for accounts payable in the future.

If you want to outsource financial analysis services, read more about Outsourcing Financial Analysis Services to Outsource2india and its advantages.