According to a company or business, accounts payable is something crucial. When markets are blooming on one side, on the other hand, accounts payable can be a tough challenge. Active accounts payable (AP) processes that advance working capital assist cash savings action, and empower long-term supplier relationship can help organizations to progress in the market and develop in changing economies. In spite of leading technology, a majority of the documentation is processed physically. Advanced accounts payable services should neglect this situation.
ADVANTAGES OF VSERVE’S ACCOUNT PAYABLE SERVICES:
- All invoices are thoroughly scanned and made available online within 24 hours for viewing, routing, and approval.
- Our solution will provide a 2-way match of invoice items to purchase order.
- Improved built-in-controls to ensure approval limits for non-purchase order invoices.
- An additional portal is included for the vendors to check invoices and the payment details.
- We strictly adhere to Generally Accepted Accounting Principles (GAAP).
- Your business operations will see an assured cost reduction.
- We give utmost importance to data security and confidentiality. Your data will be protected and will not be shared with anyone under any circumstances.
- You can take advantage of the latest technology and procedures, as we stay up-to-date on all best practices.
- Through consistent communication with us, you can be assured of Finance and Accounting BPO Outsourcing Services that are delivered with optimized transparency, flexibility and efficiency.
- We provide customizable services that are in alignment with your strategic goals.
- Consolidation and standardization across organizations that boost efficiency and reduce costs.
- Invoice automation to adapt data capture and processing, increase productivity and improve payment on time.
- Greater control to minimize and eliminate risks and revenue leakage.
- Invoice discount capture through efficient processes that reduce cycle time and realize savings.
- Working capital optimization to improve an organization's ability to pay on time, and enable better price agreement and cash flow.
- We capture data and manage all paper based payable documents by sorting, scanning and auditing.
- Check the transactions to eliminate the risk of duplicate payments.
- Resolution and proactive management of exception transactions through approval and exception routing and documented audit trail.
- The company will be eligible for the early pay discounts due to automated online routing and approval.
- Reduced costs and time-saving since routing and approval is simplified.
- Improved financial controls.
- Purchase order matches the invoices.
- On the whole accounts payable process is made easy.
- We provide effective risk relief services.
- Vserve solution gives accurate and efficient account payable services to its customers.
- The unique strategy followed by us reduces the payment delay.
- We offer detailed audit reports and process controls.
- Our approach provides measurable and significant impact, including greater accuracy, improved efficiency, faster cycle times, and lower processing cost.
- Your invoices will be paid before the due date.
- You can access monthly, quarterly or annual reports.
- Your vendor will ensure conformity to Sarbanes-Oxley Act.
- Match between checks issued & invoices that have received payment.
In current economic times, retailers find it difficult to manage back-office transactions. The reason is interrelated factors such as purchasing, receiving, bills, credits, vendor invoices, coupons, payments are increasing these days. Vserve has come up with a perfect solution that would help the retailers to meet their performance goals.
WAYS TO MANAGE DIFFICULTIES:
- Retailers must constantly fight low margins by effective operations and enhanced productivity.
- We help our retail customers by capturing every transactions along with associated documents and storing it electronically for easy access at times required.
- Retailers can retrieve the information regarding transactions and route it to respective person at any time.
- This workflow will enhance vendor relations and provide improved Days payable outstanding (DPO) ratio.