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.
Pay on time to avoid any late payment penalties, pay early to gain maximum rebates 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.
Transform the invoice process, move from paper-based to digital and automate systems, using OCR tools.
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.
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:
An award-winning company that is both SOC 2 and GDPR Compliant
ACCA- approved Gold Employer
ISO 27001 compliance for security & ISO 9001 compliant for quality management
A steady stream of qualified accountants through the QX Academy
Stay on top of all accounting jobs with QX Tracker App
Flexible engagement models catering to all requirements, whether big, minor, temporary, or permanent
Here are some of the most frequently asked questions around Invoice Processing 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!
Rapidly expanding businesses often find themselves struggling with a spike in number of invoices. Additionally, paper-based invoicing systems can also severely restrict process efficiency. Not only can this process get extremely laborious and time-consuming, but also makes the P2P function prone to costly errors & discrepancies. Some of the key Invoice Processing tasks that you can outsource to a vendor are:
Working with an experienced invoice processing outsourcing provider can allow your business to implement all industry-standard software systems. In addition, these partners also offer the flexibility of working with any additional software to address your specific organisational needs. Some of the major software packages you should look out for include:
QX has been providing a range of outsourced P2P services, including invoice processing to clients in the UK since 2003. Our clientele includes medium to large-sized companies spread across industries like student housing, recruitment, manufacturing and wines & spirits amongst others. We follow a unique partnership approach that allows us to work closely with our clients to devise customised solutions.
Most businesses often consider outsourcing their invoice processing to a business process outsourcing company in order to bring down operational costs. However, the exact amount of money that a company can save with such a project depends on its size and volume of work. Typically, businesses have saved costs ranging between 40-60%. In addition, streamlined processes and improved efficiency also adds to the overall savings.