However, while this level of efficiency is desired by all, in reality, most AP processes are subject to a large number of bottlenecks that often result in avoidable delays, late payments and penalties incurred for the same.
However, while automated OCR or optical character recognition has brought about a revolution in the standard invoice management process, it’s not enough on its own to carry out a successful accounts payable operation.
However, as outsourcing companies upgrade their services, the entire scope of business process outsourcing has expanded to incorporate business process improvement and business process automation as a part of a complete solution for operational excellence.
Is invoice management taking up most of your accounting department’s time? Do you constantly find yourself having to deal with delayed payments while struggling to clear an ever-increasing invoice processing backlog?
If so, then it’s high time you adopted a smart solution to streamline your processing workflow and outsourced your invoice processing services.
Businesses are relying on outsourcing to provide a more cost-effective and efficient solution for the wide-ranging tasks of Finance and Accounting. For many businesses, finance-related tasks, such as accounts payable, are time-consuming and repetitive. Outsourced Finance and Accounting Processes allow businesses to focus on business growth. Read More
Managing invoice processing can become quite a daunting task especially when a business starts to grow. As a result, it is common for businesses to utilize software such as Concur to help simplify the process and increase visibility. So why do businesses outsource their entire Concur expense management process? While the software helps to centralize the invoicing process, it still requires a good amount of time and effort for staff members to ensure accuracy. Internal resources already swamped with other tasks means the additional effort to balance both quality standards and deadlines can be difficult to maintain. Read More