ACCOUNTS PAYABLE OUTSOURCING
Optimize your AP operations & Save on Operational Costs
Improve processing cycles across the end-to-end AP cycle
+44 (0)20 8175 4350
+44 (0)744 544 4585
greg@relianceil.com
AP | Invoice processing
Accounts Payable is a crucial component of a company’s financial management system, which involves tracking and managing the money owed by the organization to its suppliers or vendors. The primary function of Accounts Payable is to ensure that all invoices from suppliers are accurately recorded, tracked, and paid in a timely manner. This involves verifying the accuracy of invoices, matching them with purchase orders and contracts, and ensuring that all the necessary approvals are in place before processing payment.
Invoice process requirements may differ from client to client, so we establish a standard operational invoice processing procedure with our client to outline the step by step desired and effective way of doing the process. We dedicate a Team Lead/Project Manager (PM) to make sure the project runs successfully, and the PM will be the Subject Matter Expert (SME)
At Reliance International Limited BPO, we offer a comprehensive range of Accounts Payable services to help businesses streamline their financial operations and improve their cash flow. Our Accounts Payable services include:
- Invoice processing: We process all invoices in a timely and accurate manner, ensuring that they are matched with the corresponding purchase orders and contracts, and that all necessary approvals are obtained before payment is made.
- Payment processing: We manage the payment process, ensuring that all payments are made on time and in accordance with the supplier’s payment terms. We also manage the reconciliation of vendor statements and ensure that any discrepancies are resolved promptly.
- Vendor management: We maintain accurate vendor records and ensure that all vendor information is up-to-date. We also manage vendor inquiries and provide support to vendors on payment-related issues.
- Reporting and analysis: We provide regular reports to our clients on their Accounts Payable activities, including detailed information on outstanding balances, payment status, and other key metrics. This helps clients to gain a better understanding of their cash flow and financial performance, and to identify areas where improvements can be made.
A guide of our Structured Invoice Processing Procedure Flow Chart
AP RECEIVES INVOICE
We electronical recieve invoice via email inbox or scan
INVOICE VALIDATION
Capture and Code Invoice Information
INVOICE VERIFICATION
PO invoices require 3-Way Matching Non PO Invoices require Business approval
INVOICE APPROVAL
Send Invoice for approval or rejection
PAYMENT PROCESSING
Prepare and send invoice into the Payment Run
ARCHIVE
Archive Invoices for records and audits
Managing vendor invoices from receipt to payment to increase and improve the speed at which invoices are processed.
Benefits of Outsourcing with Us
- We are cost effective
- We give a quicker turnaround time
- Reduction in operational burdens
- We are transparent
- We follow all security protocols
- We are highly efficient
- Risk awareness
- We are local and accessible
WE ARE A CLIENT-CENTRIC BPO
We operate on a client-centric model where we prioritize our client's needs and preferences on each project. The support service agents we assign to your project will work as an extention of your business exclusively to ensure high product knowledge, to enhance your brand reputation and foster long-term customer loyalty.