Managing invoices and other accounts payable documents in a row is a cumbersome task for the organization. This activity consumes a lot of efforts and time of the Accounts Payable Department. Due service works appropriately to protect oneself from unprofessional activities. Due payable outsourcing service helps to organize many tasks including scanning, matching, approval and confirmation. This gives employees the freedom to focus on other important case business activities and helps increase processing time and quick payouts. Payable services help in carrying out various functions, which work without relying too much on the accounts payable department..

Benefits

• Cost Reduction Approach

  Making in-house accounts payable department can be very costly for organizations. However, opting for outsourcing can help in saving the cost and time of organization and accounts payable department. Giving a team of well-experienced professionals the duties and responsibilities of a payable department can reduce the cost of business.

• Boost Productivity

  Properly scheduled tasks double the company’s productivity and vibrancy. It is high-time for the organization&rsquoTo understand the fact that outsourcing of account payable services will surely end the extremely time consuming tasks. This ultimately enhances production allowing employees to work with a goal-focused mindset.

• Leveraging the expertise of an outsider’s Accounts Payable Outsourcing

  Recruitment of payable employees is a tiring and restless job. The organization must invest fully in employees to get the best out of them. It is necessary to train them and qualify them for every task assigned to them. On the other hand, moving forward with already experienced and expert professionals, you will get the benefit of accounts payable outsourcing.

• Alleviate Errors

  In the process of accounts payable, the possibilities of errors do exist. When the involvement of numbers is more, omissions are likely to happen. However, that doesn’tMeaning businesses will welcome errors. As modern business owners are leaving no room for mistakes, especially due to spreadsheet errors, they are offering their accounts for outsourcing. They feel secure with the coordination of experienced accounting professionals to manage their accounting services.

Part of GRIR reconciliation

We reconcile unit levels of purchase orders received with invoices being sent by vendors and report / clear any differences at frequent intervals. We coordinate with the procurement and accounts payable team to take necessary action and invoke a regular MIS for you. Now you can relax in the chair at the end of the year andn’t need to chase your team for the closure of financials on time.

Part of payment processing

All payments are under your control. Our team prepares for an aging of payments, highlights important invoices, tells top sellers, makes payment proposals in the accounting ERP system and makes your acceptance and payment file available to the bank. Whether you make daily or weekly payments, we provide all the necessary data for you to decide on your payments.

Part of statement reconciliation

We consolidate all vendor invoices and payments issued to them considering all applicable discounts / returns and update the vendor periodically for any differences in the vendor. We coordinate with the vendor's accounts receivable team for any necessary improvements.

Part of the vendor help desk

We have set up a dedicated mailbox and desk number so that your vendors can reach you. We log all queries received on shared mailboxes and help desk numbers and address them in a sophisticated and timely manner. We also share analysis of questions and formulate a solution plan so that such questions can be minimized. We build a team that makes query resolution an enjoyable experience for your vendors.

Per-defined workflow

Going digital with your invoices and generating a workflow can help a business manage the flow of vendor invoices through undergoing multiple approvals and quality check processes. It also provides assurance by proposing small technical changes to the existing system and generates a workflow according to the accuracy and timeliness of the pay cycle.

Need of Proper Invoice Processing

Supplier’s The role is important in the development of an organization. They pay on time which harmonizes the healthy flow of money in the organization. An accurate processed invoice allows hassle-free withdrawals and also offers a discount on early payments.

Some importance points in Payment Processing and Payable Processing

Credit duration is an important aspect to be managed by the organization as it directly affects the cash flow in the business. On the one hand, paying early provides additional leeway and thus saves money for the business and on the other hand, paying on due dates allows the business to fully enjoy the credit period and keep working capital available at all times. is.

The role is important in the development of an organization. They pay on time which harmonizes the healthy flow of money in the organization. An accurate processed invoice allows hassle-free withdrawals and also offers a discount on early payments.

Credit duration is an important aspect to be managed by the organization as it directly affects the cash flow in the business. On the one hand, paying early provides additional leeway and thus saves money for the business and on the other hand, paying on due dates allows the business to fully enjoy the credit period and keep working capital available at all times. is.

Are your payments applied to the correct invoices? Are you charged with the late fees on the statements? Do not let yourself struggle with the dispute merely due to the fact that your statements are not reconciled on time and avoid any undue late fees. Now you can easily focus on issuing 1099 forms on due dates and meet deadlines of annual returns.

Part of vendor data management

While setting up initial we get the required details and tax certificates from your vendors and they are updated from year to year. We also address vendor requests whenever they want to convert their details to name, tax capacity, nature of business and contact information.

Servzone procedure

We will conduct an index of your PO and non-PO invoices / expenses and then contact the necessary approval authority. The workflow will help us get a complete MIS for visibility of invoice status in real time and also maintain all your geographies.

Servzone process

In servzone we have a team of professionals with complete account information that is a payable process that efficiently manages all types of invoices ie, PO based invoices, non-PO invoices, service or material invoices, accuracy Work order with precise level of. Enforce taxes, and help update your business in a timely manner.

Main points of vendor data management

Do you have a large number of vendors? Are most of them one time or frequency suppliers? Are you concerned with setting them up correctly in your accounting ERP system so that they are reported correctly in your returns? Therefore, correctly updated and managed vendor databases help ensure smooth running of day to day transactions as well as accuracy tax potential at the end of the year.

Importance of Vendor Help Desk

Some organizations are doing equally well for you and their books need to be folded on time. A dedicated AP help desk team addresses all queries coming from your vendor. This is necessary so that your vendors are well heard to strengthen the organizational relationship.