Outsourced Accounts Payable and T&E Services
Improve cash flows and build better relationships as we streamline your payables
Discovery CallTransform Your Corporate Spending with Fast, Accurate and Effective Payables Services
Your accounts payable and T&E processes have a huge impact on your cash flow, regulatory compliances and supplier relationships. However, many businesses still struggle with manual data entry of paper-based documents or inefficient processes, leading to costly discrepancies and inefficiencies.
QX delivers high processing accuracy and decreases operations costs through process excellence, standardised accounts payable (AP) practices, and strategic use of technology. Through our services, your organisation will be able to exploit new avenues of cost savings, improve management of working capital, and build better supplier relationships.
For Business Enquiries
Benefits
Swift Query Resolution
Follow industry best practices and protocols, along with a proactive approach to rapidly record and address supplier queries.
Improved TATs
Work closely with clients to improve TAT for key metrics, via process reengineering and technology implementation.
Effective Supplier Management
Time payments to optimise spends and gain maximum supplier discounts. Build rapport with supplier credit control team to manage cash flow during cash crunch.
Digitisation Support
Get expert support for process optimisation, technology upgrade, centralisation efforts and digitisation plans.
Customised Reporting
Gain top-level and in-depth visibility in your AP and T&E spends with intuitive dashboards and customised reports.
Improved T&E
Simplify T&E to get in-depth insights into spends and deliver a better employee experience.
Our Services
Account Payable
- Supplier direct debit set-up and maintenance
- Supplier invoice posting in line with financial policies and checks
- Maintain the supplier ledger and records
- Document management with in-house customised DMS
- Maintain details of authorised and disputed invoices
- Supplier statement reconciliation
- Effective quality check at bottlenecks/failure modes in every process
- Supplier payment run: Ad hoc/weekly/monthly runs, including international payments
- Supplier helpdesk: Dealing with chasers, supplier queries and escalating issues
Travel & Expense
- New employee onboarding
- Travel & expense claim processing (temporary and permanent workers)
- Administer purchasing cards (P-cards)
- Weekly/monthly metrics based on expenses type/exception/approval analysis for better insights
Software Capabilities
The QX accounts payable team works with industry-standard software to streamline finance and accounting. Additionally, we are also flexible to incorporating any additional systems in our solutions to suit your specific organisational needs.
FAQs
Here are some of the most frequently asked questions around Accounts Payable outsourcing. If you have a question that isn’t answered here, please feel free to contact our sales team – they’ll be happy to help!
Businesses that make a high volume of purchases need to process bills efficiently. One of the first wake up calls for any business to consider AP outsourcing is if you are seeing too many errors, your operational costs are rising, or if you are finding it difficult to recruit and retain payables staff.
In addition, if you are also unable to gather data on vendor spends, losing out on potential volume rebates or struggling to maintain healthy supplier relationships, accounts payable outsourcing may have a positive impact on your business.
Manual, paper-based accounts payable processes can end up dragging down a company’s finance function – draining onshore resources and taking the focus away from strategic tasks. An experienced accounts payable outsourcing partner can give your business access to the right people, process and platform. This in turn, can bring about a whole range of benefits such as process optimisation, technology implementation and reduced operational costs.
Accounts payable is a key finance function that impacts supplier relationships and cash flow of businesses of all sizes, across industries. While startups usually consider AP outsourcing to eliminate costs involved in hiring AP professionals, SMEs look for such solutions to overcome business peaks & troughs and add scalability to their accounting functions.
In the traditional sense, outsourcing has often been associated with reduced business control. This can hurt businesses significantly, especially in cases where key functions like AP are involved – which is why, choosing the right outsourcing partner becomes the key. It is important to outsource AP to a partner that acts as extension to your onshore team rather than serving as a pick and dump. QX follows a unique partnership approach that allows us to devise customised solutions for our clients and ensure that you lose the cost and not the control.
Outsourcing accounts payable can introduce several risks, including data security breaches, compliance issues, and potential errors in payment processing. These concerns necessitate a careful approach to ensure the integrity and efficiency of financial operations.
Acknowledging the inherent risks of outsourcing accounts payable, QX is committed to actively managing and mitigating these concerns. We assess specific concerns, customise a plan to mitigate risks, and establish clear communication channels for transparency. Regular updates and open communication facilitate collaboration, while stringent measures ensure data security and compliance. Our team prioritises accuracy, minimising the risk of errors. Continuous monitoring and improvement are integral to our strategy, adapting to changes effectively. In summary, while risks exist, QX employs a proactive approach to manage and mitigate them efficiently.
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