Unlock Business Value by Leveraging our APO Services
We have been delivering high-quality accounts payable outsourcing services (APO Services), also known as Procure to Pay (P2P) outsourcing services, to customers for over 15 years, assisting them in increasing efficiency and lowering costs.
For our customers we ensure an efficient accounts payable (AP) system that manages cash flow and working capital effectively. Our accounts payable (AP) management services include 2-way and 3-way matching, GST and TDS compliance, recording unpaid GRN liability, vendor payments, employee expense reimbursements and tracking purchase order revisions.
Our partnership assists in improving your company's agility and compliance with regulatory policies. We also use OCR and RPA (robotic process automation) solutions in case of high volume accounts.
We track the workflow using cloud based solutions for complete visibility into process performance. Our APO solutions enable working capital optimisation with invoice processing and disbursements, vendor management, and accounts payable aging reports.
To streamline and outsource your organizations accounts payable process
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What We Offer
Benefits of Accounts Payable Outsourcing Services
- Increase efficiency in the entire accounts payable
process without additional manpower.
- Get access to useful MIS for enhanced
- Reduce expense in technology, equipment,
- Ensure accurate payment with reliability of
Maker – Checker system.
- Get access to latest technology when you
outsource accounts payable.
- Adherence to SLAs guarantees timely payments & healthy supplier relationship.
- Avoid interest liability by making timely payments to MSME registered suppliers.
Accounts Payable Services FAQs
Accounts payable (AP) is a term used in accounting to refer to the money owed to vendors or suppliers for products or services purchased on credit. This is covered by the “Procure to Pay (P2P)” process. Accounts Payable is also sometimes called “Sundry Creditors” On a company’s balance sheet, the sum of any outstanding payments owed to its suppliers is reported as the balance of accounts payable, whereas the cash flow statement will show the growth or reduction in total AP from the previous period.
Accounts payable has four steps in its process from start to finish:
- Purchase Order/ Service Orders/ Agreements with vendors which create the basis for subsequent process.
- Receipt of Goods or Services and creating payables liability in the company’s books.
- Invoice capture, 2-way or 3-way matching against purchase order and goods/ services received notes (GRN) for quality approvals, taking care of GST and tax withholding requirements.
- Payment Authorization and execution
The accounts payable process can lead to inaccuracies in performance and financial reporting, as well as prevent team members from engaging in higher-value activities that can help your bottom line.
Managing accounts payable in-house is often a daunting task. Thus, outsourcing your account payable services is very helpful and saves a lot of time. For outsourcing your account payable services, you can hire an account payable management service provider who has expertise in providing all the APO services effectively.
Accounts payable oversees processing and handling outgoing payments, as well as interacting with suppliers. Onboarding new suppliers, receiving invoices, checking payment information, updating ledger accounts, compliance with GST and TDS requirements and paying suppliers by the agreed-upon due date, as well as reconciling payments, are all standard activities.