IQ BackOffice’s
Accounts Payable Outsourcing Services Provide Centralized Control
Over Payables and Other Best Practices While Reducing Costs by 25%
to 50% Annually
Most finance organizations spend a large part
of their Finance budget on processing Accounts Payable. This is due to the largely manual effort required to enter
invoices into the accounting system and, if applicable, match those
invoices to purchase orders and receipts.
Yet while Accounts Payable is critical to ensure that authorized
invoices are paid accurately, it is often not managed to world-class
standards due to the time and expense required to implement best
practices.
Is your organization utilizing Accounts Payable
best practices to stay in control? If you can answer YES to
the following questions, you are.
-
We know how many invoices we receive on a
monthly basis
-
We have defined and well-documented business
rules for matching invoices to PO’s and receipts and approval
levels that are followed explicitly by managers and Accounts
Payable staff
-
We catch all duplicate invoices and have very
small tolerances for invoices that do not match the PO or receipt
-
We know the number and dollar value of outstanding
invoices (liabilities) before they are approved or matched
-
We know how many of our invoices do not match
the PO or receipt and why
-
We know which of our managers have invoices
in their inboxes waiting for approval and their dollar value
-
We receive invoices centrally and route those
invoices to the managers that know whether the invoice is accurate,
no matter where the manager is physically located
-
We have images of all invoices and can look
them up on the web quickly and easily, eliminating time spent
filing and retrieving invoices
-
We let our vendors look up invoice information
and payment status on the web to reduce the volume of phone
calls to our staff
If you answered no to any of the above questions,
you should consider IQ BackOffice’s Accounts Payable Outsourcing Services. IQ BackOffice’s
Accounts Payable Outsourcing Services provide the following benefits:
-
25% to 50% annual A/P processing cost savings
without capital investment
-
Greater, centralized control over payables
across the enterprise, irrespective of physical location
-
World-class quality and accuracy from IQ BackOffice’s
ISO 9001-certified service centers, ensuring accurate matching
to PO’s and receipts and elimination of duplicate and erroneous
payments
-
Real-time tracking and reporting of all payables
from the time they are received from the vendor through disbursement,
for client employees and their vendors
-
Reporting of A/P matching exceptions by vendor
and exception type for improved procurement and vendor relations
-
Automated routing of payables for approval
by business unit managers irrespective of location, enhancing
control and manager productivity
-
Elimination of the headache of recruiting,
hiring and managing clerical staff
-
The ability to focus on strategic, pertinent
finance issues instead of non-value added activities such as
A/P
Click on a link below to get more information
on IQ BackOffice’s state-of-the-art solution
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