Invoice processing is often a time-consuming and laborious activity, especially for accounting departments handling a significant amount of paper invoices. Processing errors, delays and duplication issues often have a negative knock-on effect on the entire P2P cycle.
QX helps businesses optimise the invoicing procedure, implement customised automation solutions and design an accurate, agile and efficient invoicing/billing process. With QX’s dedicated team working on your process in India, your onshore staff can focus on higher end activities, with the assurance of quality invoice processing.
We have partnered with many leading UK companies to transform the invoice process, moving from paper-based to digital and automated systems, using OCR tools. We can help you achieve electronic invoicing for straight-through processing.
Pay on time to avoid any late payment penalties, pay early when relevant to gain maximum rebates or early discounts and delay payments where practicable to optimise cash flow.
On-time payments and clear, timely communications pertaining to delays ensure that your relationships with vendors stay strong and your organisation stays on their preferred customer lists.
Gain control over the cost of accounting operations without losing out on quality with a dedicated offshore team. Easily expand the team on short notice to manage work spikes.
Our services are designed to deliver faster, more accurate and streamlined invoice processing. We also partner with our clients to identify, assess and implement digital solutions based on off-the-shelf OCR (Optical Character Recognition) and other intelligent automation tools. Some of the key services we provide include:
We focus on optimising the process to simplify and speed up the approval process. Our services ensure that approvals are received on time to avoid late payments and the status of each invoice is clearly visible to all relevant stakeholders.
We capture invoices by setting up a centralised email box or by downloading them from designated supplier portals. We can also scan physical invoices, if the process requires it.
Accurately matching invoices with POs, receipts and other relevant documents is critical to running an efficient P2P cycle. The QX team is adept at using various tools and technologies to perform this task on documents received from various channels.
Keeping a track of supplier contracts, we help you optimise cash outflow and ensure that your business extracts all the benefits related to early discounts and rebates, while avoiding any late payment penalties.
Timely resolution of vendor queries is essential to avoid damaging supplier relationship and ensuring timely payments. We use the right people, process and software to ensure timely and satisfactory resolution of vendor queries.
Our trained and experienced accountants are adept at managing intercompany invoicing and we help optimise your processes to increase efficiency.
We work with all major P2P and invoice processing software and can easily work with your existing platform as well. Some of the software we use on a regular basis include:
We can work with your existing PO system or use QX’s proprietary PO system to streamline and digitise your accounts payable process. For companies that do not already have a reliable software in place, these alternatives enable us to rapidly digitise and optimise the invoice processing procedure.