Intuitive Dashboards to Provide Timely, In-depth & Accurate P2P Reporting
The procure-to-pay (P2P) process involves capital expenditure and businesses keep a close eye on cash outflows that end up increasing working capital. For mid-to-large businesses, the sheer number of transactions and the complexities associated with them often blur the bigger picture.
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 their business finances and optimize their procure-to-pay process.
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Accurate Data: Get full visibility and up-to-date information on items such as aged cash requirements, aged payables, overpayments, supplier transactions & reconciliations, exceptions and a range of other categories.
Automation Support: Identify key reporting needs, suggest and implement relevant reporting software, and automate a major part of your P2P reporting.
Enhanced Performance: Access detailed level reports on the offshore team’s performance across the P2P cycle, along with SLA and KPI reporting.
4 Proven Benefits of Outsourcing Your F&A Function
It is a mantra drilled into the mind and hearts of all QX F&A team members: walk the extra mile. Whether it is implementing a new accounting software or ensuring a smooth or transition a complex project rapidly, we go out of our way to make it work. ...
Here are some of the most frequently asked questions around P2P Reporting 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!
No. Reporting is a key element of the entire P2P cycle that can take up a significant amount of time & resources for an organization of any size and plays a key role in determining the overall company growth. While SMEs outsource their P2P reporting to better leverage financial data and add scalability to their accounting functions, smaller organizations usually consider such solutions to overcome the hassle & costs involved in hiring data scientists and gain competitive advantage over other businesses.
QX has been providing outsourced finance & accounting services to clients in the UK & US since 2003. Ever since our inception, we have continued to provide a wide range of P2P, O2C, R2R & FP&A and HR Support Services to clients spread across industries like student housing, recruitment, manufacturing and wines & spirits. Our unique partnership approach allows us to work closely with our clients to understand their specific organizational needs, devise customized solutions and ensure seamless transition to revamped systems.
When you outsource a function like P2P reporting to a business process management company, you inevitably end up sharing a lot of confidential data with them. Therefore, it is very important to enforce standard procedures to share your financial information in a secure manner. While picking a sourcing agency in the US, ensure that they comply to security standards such as SOC, ISO, EU-US Privacy Shield, and/or HIPPA and HITECH certifications.
It is also critical that client data is stored in highly secure servers with limited access on a need-to-know basis. So, feel free to ask your provider about how they manage these details.