Drive Focus to Mission-critical Functions with QX’s Accounts Receivable Services
A timely and effective order-to-cash cycle is vital for improved cash flow, and it plays a critical role in optimising business performance. However, the repetitive and time-sensitive nature of traditional accounts receivable processes can often drain a company’s limited resources.
At QX, we leverage best practices, industry expertise and automation to deliver less expensive and more efficient accounts receivable services. With clear performance benchmarks and SLAs, our services ensure that you achieve your cash flow goals while reducing operating costs.
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Improved Cash Allocation: Reduce unallocated cash to the lowest possible figure to boost working capital.
Transformation Support: Run digitised AR processes using intelligent, automation-driven workflow tools.
Consolidated Documentation: Integrate receivables data from various sources including printed documents, emails and other electronic data.
Improved visibility: Wide variety of reports, customised to meet your needs: Daily cash collection, monthly DSO, unallocated cash vs. target, performance dashboard, and more.
Cost Savings: Leverage a unique people-process-platform approach to optimise accounts receivable and achieve operational cost reduction of up to 50%.
The QX 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.
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Here are some of the most frequently asked questions around Accounts Receivable 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!
Most businesses choose to outsource their AR function to build scalable teams, bring down operational costs, overcome staffing shortages and streamline processes. An experienced AR outsourcing partner can introduce highly qualified accountants to your business and bring in their industry expertise to deliver significant cost savings. Modern businesses also leverage the expertise of accounts receivable and credit control service providers to accelerate their finance & accounting transformation.
Partnering with an accounts receivable outsourcing specialist can give your business access to a dedicated finance and accounting team to streamline the entire process for enhanced accuracy, timeliness, and efficiency. In addition, a specialist can also enable your business to avoid administrative costs and shift focus to more value-add functions.
An experienced AR outsourcing partner will have the capability to work with all major accounting and collection software systems. They are up-to-date with the latest technologies and adapt to them within very short time frames. Some of the major software packages you should look out for are FreshBooks, Oracle NetSuite, QuickBooks, Sage, Xero and FreeAgent. Additionally, you can leverage their expertise to automate many of the activities related to AR and credit control.
Most AR outsourcing providers offer the flexibility of either outsourcing the entire accounts receivable function, or certain key functions in the AR process. The offshore AR service providers work closely with on-shore teams to get the tasks done and deliver as per defined SLAs. This means that it is easy for your business to outsource just the specific accounts receivable tasks that are non-optimum to be done in-house.