Reduce operational cost of invoice by outsourcing to Axe Bpo
Invoice Processing is always a challenge in itself. The complexity arises because of too many stakeholders within and outside of the organization. Add to this, the diversified business entities and the operating models. What is forgotten is the key stakeholder in this exercise – the finance team. Finance predictions on cash flow goes for a toss due to inherent processing models and/or dependency created within to service.
A predictable process for cash flow against invoices will be a win-win for every one. It increases the visibility to finance, reduces stress on accounting team, frees up time for the purchase department against handling vendor queries and increases delight with vendor in-turn increasing the stickiness for long-term sustained business.
Of all the benefits of a streamlined invoice processing, the most important is predictability
- predictable TAT for end-to-end processing
- predictable cash flow for the next few days/months
- predictable receipt of payments by vendors and
- predictable business
How to make a predictable invoice processing environment is a combination of technology, domain expertise and a strategic vision.
AxeBPO has, over the years, built an adaptable invoice processing solution combining the strengths of technology and people with its years of outsourcing experience. The solution framework removes bottlenecks and improves agility on a continuous basis ensuring value to business from time-to-time. The combined solution helps organizations to outsource invoice processing and get benefitted in different areas like
- Multi-channel inputs
- Reduce TAT of invoice posting
- Validation and posting on one or multiple ERPs
- Information on top discrepancies for mitigation and hence reducing errors on a continuous basis
- Information on delays, reasons, stakeholders responsible and much more
- Reduce non-compliance on TAT/SLA through prior alerts and escalation mechanisms
- Automatic notifications on defined activities as status update avoiding external escalation
- Analytics based dashboard for continuous improvement
- And much more
For more information on how to outsource and improve invoice processing, please contact AxeBPO.