Accounts Payable Outsourcing Services
Transform procurement with reliable accounts payable and T&E solutions
Discovery CallRevolutionize Your Corporate Spending with Quick, Precise and Effective Payables Solutions
For a business, its accounts payable and T&E processes have a huge impact on its cash flow, regulatory compliances and supplier relationships. However, many businesses continue to struggle with manual data entry of paper-based documents or inefficient processes.
QX delivers high processing accuracy and low operational costs through process excellence, standardized accounts payable (AP) practices, and strategic use of technology. With our solutions, your business will be able to exploit new cost saving avenues, improve working capital management, and build better supplier relationships.
For Business Enquiries
Benefits
Improved TATs
Work closely with clients to improve TAT for key metrics, via process reengineering and technology implementation.
Swift Query Resolution
Leverage best practices and a proactive approach to rapidly record and address supplier queries.
Digitization Support
Get expert support for process reengineering/optimization, technology upgrade, centralization efforts and digitization plans.
Effective Supplier Management
Time payments to optimize spends and gain maximum supplier discounts.
Improved T&E
Maintain strong adherence to business’ T&E policy and get in-depth insights into spends.
Customized Reporting
Gain in-depth visibility in your AP and T&E spends with customized reports and intuitive dashboards.
Our Services
Accounts 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
- 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. We are also flexible with incorporating any additional systems in our solutions to suit your specific organizational 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!
Processing bills efficiently is one of the biggest challenges for businesses that make a high volume of purchases. There are several early signs that you should constantly be on the lookout for. If you are facing too many errors, dealing with high operational costs or find it difficult to recruit and retain payables staff, then you must consider AP outsourcing for your business.
In addition, if you are also losing out on potential volume rebates, struggling to maintain healthy supplier relationships and unable to gather data on vendor spends, accounts payable outsourcing may just be the key to optimizing your finance function.
Rapidly growing organizations often end up struggling with manual, paper-based accounts payable processes which can drain onshore resources and drive the focus away from strategic tasks. Working with an experienced payable outsourcing partner allows businesses to leverage the right people, processes and platforms. This in turn, can bring about a whole range of benefits such as technology implementation, process reengineering and reduced operational costs.
As accounts payable is a key finance function, it affects cash flow and supplier relationships of businesses of all sizes. On one hand, SMEs often consider AP outsourcing to overcome business peaks & troughs and add scalability to their accounting functions. On the other hand, startups usually consider AP outsourcing to eliminate costs involved in hiring AP professionals.
In some cases, outsourcing can lead to reduced business control – which is why, picking a reliable outsourcing partner becomes the key. It is important to select a partner that works as an extension to your onshore team rather than serving as a pick and dump. We, at QX, follow a unique partnership approach that allows us to work closely with our clients to devise customized solutions, ensuring that you lose the cost and not the control.
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