Procurement, or Procure to Pay (P2P), is a critical finance function that involves multiple steps and is pretty complex in nature. As you can imagine, this can result in manual errors, increased operational costs and take the focus away from value-driven initiatives.
QX Global Group offers a wide range of outsourced P2P solutions to clients in the US. Our deep industry expertise and unique partnership approach allows us to closely understand our client’s specific organizational needs and devise customized solutions. Propel your company’s P2P processes, implement latest technology, reduce spends and get your onshore teams to focus on core business with QX’s outsourced P2P solutions.
Process Optimization: Optimize P2P process to improve team efficiency and increase accuracy.
Experienced Teams: Team up with industry experts to stay on top of dynamic regulatory needs.
Digitization Support: Leverage latest technology & tools to add agility to your P2P processes.
Data Security: Ensure end-to-end data security and privacy for your company’s financial information.
Reduced Costs: Achieve cost savings of up to 50% by partnering with P2P specialists.
Customized Reporting: Gain access to insightful financial data and take smarter business decisions.
Accounts Payable and T&E Solutions
For a business, its accounts payable and T&E processes have a huge impact on its cash flow, regulatory compliances and supplier relationships. QX Global Group’s AP and T&E solutions allow businesses to discover new cost saving avenues, improve working capital management, and build better supplier relationships.
Invoice management is often a time-consuming and laborious activity, especially for accounting departments that handle a significant amount of paper invoices. Through its Invoice Processing solutions, QX helps businesses optimize the invoicing procedure, implement customized automation solutions and design a precise and efficient invoicing/billing process.
Business that handle a large volume of supplier-related transactions often find it challenging to ensure timely material & service delivery while maintaining healthy business relationships. QX’s Purchase Order Management solutions allow businesses to digitize and automate the ordering process, handle orders from multiple locations, improve order tracking, and gain better visibility on business spends through insightful reporting.
QX provides in-depth, timely and accurate reporting on all the key P2P aspects using intuitive dashboards. We are also capable of personalizing reports to fulfil the specific needs of your business, while adhering to industry best practices. This helps our clients stay on the top of business finances and optimize their procure-to-pay process.
Due to digitization, suppliers and vendors in today’s world expect easy access to information and responses online. QX’s Supplier Helpdesk Support solutions easily enable suppliers to access relevant information. These services help reduce supplier queries, while also recording and quickly resolving any queries that may arise.
Supplier Master Management
Any organization that handles a large volume of supplier-related transactions finds it challenging to extract relevant data and insights from supplier and item master records. QX’s Master Data Management solutions help organizations across industries to improve the accuracy of supplier/vendor data. Additionally, we help you unlock actionable insights for better decision making, while reducing the cost of accounting operations.
The QX team works with a combination of software to transform P2P processes for our clients. In addition, we are also open to working with your existing systems or any other software that might suit your business needs better.
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
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Here are some of the most frequently asked questions around P2P 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!
Whether you want to outsource the entire P2P function or just some tasks within it, is a decision that rests entirely with your business. The specialist partner can work with your onshore team to understand your specific organizational needs and devise solutions that are tailored to your needs. The offshore P2P professionals then work closely with on-shore teams to get the tasks done and deliver as per defined SLAs. Therefore, it is possible to outsource just the specific P2P tasks that are non-optimum to be done in-house.
No. Any business, irrespective of its size, can benefit from outsourcing the P2P function. Most businesses tend to benefit from outsourcing as it frees up onshore teams and allows them to focus on overall growth. In addition, outsourcing P2P also brings down operational costs and introduces expertise, which may not be available in-house.
Having said that, some of the biggest benefits become available with scale – so processes with large volume of transactions are likely to derive bigger benefits from outsourcing.
Choosing your outsourcing partner is a key business decision that can have a direct impact on your overall growth. While making this choice, it is important to consider the following things:
Most experienced outsourcing partners keep themselves updated with all major accounting software. In addition, these specialist service providers also offer the flexibility of working with any other systems that better suit your organizational needs Some of the major software packages you should look out for while outsourcing your P2P function are Yardi, SAP, DocuWare, KOFAX, RealPage, Access, MRI, Sage and Oracle, amongst others.