Accounts Payable

Accounts Payable

Proziod Accounts Payable outsourcing services at India are focused at transforming our customer’s entire payment activity by effectively automating the processes of documents management, transaction management, exception resolution, elimination of duplication and disbursement-related services.

Our Accounts Payable Outsourcing Services at India offer our global customers the flexibility to outsource all or part of their accounts payable business functions.

The Accounts Payable Outsourcing Services provide you with the advantages of cutting edge technology and skilled staff without having to invest in these or buying and maintaining expensive software. We provide industry best practices including Sarbanes-Oxley compliance leading to reduced discrepancies and greater financial control which finally translates into enhanced profitability.

Our Accounts Payable Services

We provide Accounts Payable Services to customers all over the globe, including customers in UK and USA. The end-to-end solution includes the following:

Data Capture

Receipt and management of all paper-based payables documents. This includes:
  • Sorting
  • Batch preparation
  • Scanning
  • Document indexing
  • Document storage and retrieval
  • Receiving and processing incoming mail
  • Audit and reconciliation of scanned invoices
  • 100% availability of scanned invoices

Disbursement Services

All aspects of payments in minimal time to reduce customers’ floating costs:
  • Print and distribution of checks
  • Secured maintenance of check stock
  • Online check proofing
  • Return check handling
  • Electronic payment handling
  • Special invoice mail handling

Data Processing - Exception Management/Resolution:

Resolution and proactive management of exception transactions. This includes:
  • Approval and exception routing
  • Shortened month-end closing process
  • Documented audit trail

Suspect Duplicate Analysis

Audit and control mechanisms to eliminate the risk of duplicate payments and support recovery and reclamation through:
  • Manual and automated data entry
  • Three-way database matching
  • Electronic invoice processing

Outsource Accounts Payable Services

State-of-the-art Workflow Technology

Step 1
Invoice Receipt: Customers’ hardcopy and electronic invoices are received.
Step 2
Image and Data Capture: All documents are stored as images and all invoice images are viewable.
Step 3
Process and Route: Invoice documents are processed according to previously agreed upon business rules with the customer. Invoices are routed to the relevant customer executives for approval and final resolution.
Step 4
Disburse and Archive: An approved invoice is uploaded to customer’s A/P system for payment through standard interfaces on all accounting platforms. The invoices are then posted to the General Ledger as ’normal’. We also perform disbursements. The hardcopies are stored at our facility and the electronic images are searchable online.

Why Outsource Accounts Payable Services to India?

  • Efficiency and accuracy facilitated by our advanced workflow and imaging technology, adherence to industry best practices and high levels of quality.
  • Our processes provide customer up-to-the-minute information on invoice (amount, vendor, date) process stage, approvals (who approved it, when), exceptions (price discrepancy, quantity discrepancy) as well as all outstanding liabilities for the organization.
  • We provide 24x7 customer service to facilitate prompt response and resolution to customer/vendor inquiries.
  • Our web-based reporting system maintains the highest level of security of customer data at the same time allowing the customer real-time tracking.
  • Improved business intelligence facilitated by the big picture available to the management
  • Improved financial control made possible by our transparent processes and 24x7 secure web access to customers
  • Reduced invoice discrepancies and disputes
  • Strengthened Vendor relations
  • Online repository for easy access to invoice transaction audit trail and access to supporting documentation required for audits
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