Accounts Payable Outsourcing Provider
Today’s business environment is becoming more and more competitive. To stay on top, your company needs to run at greatest efficiency bycutting unnecessary costs with accounts payable outsourcing.
As one of the top accounts payable outsourcing companies, we can help save you up to 40% cost per invoice benchmark. Our average cost to process an invoice is less than your in-house department. Plus when we automate your accounts payable process, errors are reduced and ou cash flow is improved with better payment management.
Our flexible accounts payable services allow you to outsource, all or part of your accounts payable departmental processes. Using a secure, automated, and rule-based system we can lower your AP processing costs and improve your controls with our secure payment systems. As one of the top accounts payable outsourcing companies we process invoices from many different industries for major corporations across North America.
Before you consider accounts payable outsourcing companies in India contact us for competitive accounts payable outsourcing pricing. You will be pleasantly surprised by the comparison of value.
Here are the top reasons you should consider outsourcing accounts payable function:
Benefits of Outsourcing Your Accounts Payable Function
40% reduced costs for AP processing
100% detailed data for cost analysis to discover reduction opportunities
4-5 reduced days payable outstanding compared to traditional systems
- Reduce your accounts payable departmental expenses with no capital or personnel investment
- SOCII and HIPPA compliant
- Increase your productivity rate while decreasing invoice processing costs
- Invoices visible online within 24 hours
- Faster approvals and period closes for your accounting department
- Improve working capital usage through better payment management
- Tighter control over your accounts payable process
- Meet complex regulatory requirements
According to recent account payable case studies, these are top reasons why companies use APO (Accounts Payable Outsourcing) instead of processing their AP functions in-house; inefficient processes of manual data entry, invoice receipt in paper format, a higher number of discrepancies and errors, inability to approve invoices in time to capture discounts and lost missing invoices.
Research shows that the majority of the AP function needs are to convert from paper, fax and email invoices to electronic invoices and accounts payable vendor portals. As AP departments proceed to more automation many intend to outsource the labor-intensive paper portions of the process to avoid the tiresome, mistake-laden job of manual data entry.
AP Services Provided:
- Automate accounts payable process
- Scanning and OCR Invoice processing
- Approval and Signatory Management
- Check/ACH/EFT/Wire Disbursement Templates and Services
- Compliance and KYC (Know Your Customer) Security Services
- Tax Services and IRS Tax Form Management
- Standard and Custom Accounts Payable Reporting Available
The Benefits of Selecting Checkissing as Your Third Party Accounts Payable Solution
ONLINE CONTROL PANEL – Web-based control panel lets you automate your accounts payable operations. Easy systems integration, with top ERP (Enterprise Resource Planning) systems such as SAP, Peoplesoft, Oracle, Great Plains and more. Our electronic accounts payable system gives you complete control over payment management authorizations.
SYSTEMS INTEGRATION – Our account payable solution is geared toward helping you improve the operations of your back financial office without disrupting your existing systems, software or processes. CheckIssuing’s programs are capable of virtually seamless integration. Process include scanning and storing documents, interfacing with many accounting systems, automatically merging and error-checking data. Your vendors will have a wide range of payment options including checks, ACH direct deposit and wire transfers.
TAX COMPLIANCE – We help you collect the required tax forms from your vendors. Typically we collect the IRS required W-9 (Request for Taxpayer Identification Number and Certification). For non-US vendors, we will collect the submission of a declaration stating that they are not a “US Person” as per the IRS definitions and will ask them to complete the necessary W-8 paperwork.
WEB PORTAL & ELECTRONIC INVOICING – Our vendor portal provides a single point of entry for your suppliers. The portal gives them access to view document status, submit invoices and participate in the correction processes, manage reports, and more.
CUT YOUR ACCOUNTS PAYABLE PROCESSING COSTS – Businesses today are being pressed hard to reduce costs and get the maximum value from their expenditures. We will reduce your accounts payable automation processing expenses without no capital investment on your part while improving your regulatory compliance. Watch your cost per invoice benchmark go down as we substantially reduce your average cost to process an invoice.
Our Accounts Payable Processing System
CheckIssuing’s proven and innovative accounts payable solutions will put your accounting department back to work on your core business instead of managing mountains of invoices.
Our accounts payable outsourcing case study reports an improvement in average invoice processing time along with the pros and cons of outsourcing accounts payable.
While many organization outsources their entire accounts payable department to us, some organizations find it more practical to outsource some AP tasks and keep other functions in-house to maximize control. Either way, your productivity increases while your performance improves.
When businesses decide to outsource their accounts payable functions it is often done in a step by step manner. From our outsourcing view, we divide the AP process into three distinct segments; receiving and sorting invoices, approvals and discrepancy checks and automation of invoice payments.
Working with us is straightforward and direct. We get sent invoices or purchase orders directly. Based on your business requirements and approval rules, then we process the payments and send them to the appropriate vendors using a range of electronic payment options.
1- Receive invoices, and purchase orders, from your vendors and suppliers.
2- Evidence of your receipt of goods and services
3-Verification and approval of bills from suppliers matched with receipts and purchase orders.
4-Alert you to discrepancies when purchase orders are issued without budget or authority.
5-Notify you when goods are accepted by individuals not appropriately designated
6-Warning of no evidence of goods matching supplier billing
7-Non matched purchase orders and invoices and incorrectly calculated vendor bills are red flagged.
>>Learn ways to improve your business operations read our accounts payable blogs
Drastically reduce your processing costs
Businesses today are being challenged to reduce costs, collect the most value possible from expenditures, and meet a wide variety of regulations. Imagine reducing your accounts payable automation processing expense without capital investment while boosting regulations during the entire process. When you outsource the functions of your AP department to us, that’s what happens. Contact Us Today to see how we can help.