Today, companies manage a complex global ecosystem of suppliers, partners, operators, customers, ... and at the same time process a large number of administrative and regulatory documents. This reality requires agility and efficiency in the management of documentation and invoices, in order to optimize operational efficiency and to avoid a high consumption of resources.
However, it is surprising that today, despite the enormous advances in automation and technology, almost 75% of the documentation is processed manually. This situation is obviously very labor intensive and undoubtedly affects the results of the companies. Accounts receivable and Accounts payable outsourcing is the solution for this.
Ourtourcing accountant : What is it?
Accounting outsourcing is the subcontracting of third parties to take over certain accounting activities that are complementary to the main activity. It is the process by which a company outsources part of its activity, i.e. it hires an external company to manage part of the company.
Accounts receivable and Accounts payable Outsourcing in companies
Companies that process large volumes of invoices can benefit from the visibility and efficiency of electronic billing to model fully automated AP/AR processes. In an accelerated environment that requires precision and efficiency, companies that use AP / AR automation technology to support their processes are better equipped to provide a better service to suppliers and customers.
The key to success in AP and AR operation is efficient processing of incoming document flow, controlling the cost of transactions from purchase to payment and from ordering to collection, and the ability to handle maximum volumes, or peaks , without needing to scale up the labor force. To maintain competitiveness and meet ever more demanding requirements, it is imperative that companies simplify and automate AP / AR processes whenever possible. This can be achieve by outsourcing the accounts payable and receivable processes.
What does AP and AR mean in accounting
AR, accounts receivable, is used, if an invoice is issued. If there is any balance remaining to be paid, invoices will continue to be issued, usually on a monthly basis. AP, accounts payable is used, referring to the balances this company has to pay, does not apply to issuing an invoice.
Easyap Accounts receivable and Accounts payable Outsourcing Services
With the powerful technology available today, the most robust way to do business is through an end-to-end AP and AR automation solution. easyap has developed an electronic application service that automates data entry, validates received information, checks invoices against orders and delivery notes, conducts information through electronic approval or validation workflows, and finally records invoices in its ERP for later payment or follow-up of collection. Our extensive AP and AR automation service helps companies create a paperless pipeline between customers, suppliers and purchasing groups and their members, enabling them to electronically manage 100% of their invoices effectively and efficiently.
Accounts receivable and Accounts payable Outsourcing: Benefits of AP and AR automation
AP and AR automation allows for considerable cost savings, up to 75%, as companies can get rid of manual processes, such as printing, filling envelopes, mailing, digitizing, entering invoice data, matching, recording and archiving.
We invite you to use our Online Cost Calculator to accurately check how much it costs you to process a supplier invoice, and compare it with the companies in your sector.
Theautomation process offers the following benefits:
- Eliminate manual data entry
- Eliminate errors in data entry
- Minimization of manual intervention in invoice matching
- Control of document flows in the approval process
- Minimization of manual intervention in invoice accounting
- Significant reduction of the time in the cycles from the order to the payment and from the order to the collection
- Reduction in operational costs
- Reduction in employee costs
- Flexibility when faced with exceptional volumes, or peaks.
- Higher visibility and control over Cash Flow and spending
- Increased operational efficiency
- Increased Productivity
- Better service to customers and suppliers
The management of accounts payable and accounts receivable has a direct impact on the management of Cash Flow, so there is no doubt that improving your AP and AR processes can significantly improve your profitability. By taking less time to manage the internal AP and AR processes, easyap customers are in a better position to quickly and efficiently service their customers and better manage supplier relationships.
Adopt the strategy of outsourcing your AP and AR processes and foster stronger, more reliable and profitable relationships with yourcustomers and suppliers.
Contact us to find out how easyap can help you transform and optimize your AP and AR processes.