Outsource Accounts Receivable Services
Optimize cash flow, reduce operations costs and implement smart automation.
Discovery CallImprove Working Capital Management with QX’s Accounts Receivable Solutions
Order-to-cash cycles play a critical role in determining a company’s cash flow and eventually, in optimizing business performance. However, your finance department may often not have enough time, or at times expertise, to follow the best practices for the laborios accounts receivable process.
Leveraging best practices, industry knowledge and smart automation, QX delivers highly effective accounts receivable solutions to clients across the US & UK. Partnering with QX ensures that your company meets your cash flow goals while bringing down operating costs by up to 50%.
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Benefits
Reduced Unallocated Cash
Deploy a dedicated team of accounts receivable and credit control experts to reduce unallocated cash to the lowest possible figure.
Transactional Visibility
Generate a wide range of customized reports like daily cash collection, monthly DSO, unallocated cash vs. target, performance dashboard, and more.
Document Consolidation
Integrate receivables data from various sources including emails and printed documents.
Digitization Support
Get expert assistance in identifying & implementing digitized accounts receivable processes.
Cost Reduction
Leverage QX’s unique people-process-platform approach to optimize your AR fucntion and achieve cost savings of up to 50%.
Services
Solutions
- Customer set-up and maintenance
- Set up AR follow-up mechanism
- Raise invoices based on occurrence & send for authorization
- Customer queries resolution
- Invoice chasing, escalation and resolution
- Maintain sales ledger accurately
- Invoice discounting
- Customized AR reports
- Cash application for receipts
- Revenue reconciliation on weekly and monthly basis
- Monthly MIS reports
- AR aging reports
- Issuing refund checks and credit memos
- AR deductions management
- Write offs
Software Capabilities
The QX accounts receivable team works with industry-standard software to streamline finance and accounting. We are also flexible to incorporating any additional systems in our solutions to suit your organizational needs.
FAQs
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 we’ll be happy to help!
Rapidly expanding businesses often end up spending extensive time and resources in activities related to accounts receivable. Outsourcing the same to an expert can help build scalable teams, bring down operational costs, overcome staffing shortages and streamline processes. Working with an experienced AR outsourcing partner allows businesses to introduce highly qualified accountants and achieve significant cost savings. Modern businesses also leverage the expertise of AR service providers to accelerate their finance & accounting transformation.
Partnering with an AR outsourcing specialist can give your business access to a dedicated finance and accounting team to streamline the entire process for improved efficiency, accuracy and timeliness. In addition, a specialist can also enable your business to avoid costs related to administrative activitiescosts and allow your accounting team to shift focus to more strategic functions.
An experienced specialist 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 your outsourcing partners experience to accelerate your digitisation and automation related initiatives.
Most AR outsourcing providers offer the flexibility of either outsourcing the entire AR function, or certain key functions in the AR process. The offshore accounts receivableAR 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 only those specific accounts receivable tasks that are not worth doing in-house.
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