Improve Operational Efficiency with AP/AR Outsourcing
Freight forwarders must continually manage a vast global ecosystem of suppliers, partners, carriers and customers and at the same time handle and process copious amounts of regulatory and corporate paperwork. This reality requires them to be nimble and efficient in handling of documentation and invoices, in order to optimize operational efficiency and prevent a drain on resources. However, the surprising fact is that, even today, despite huge advances in automation and technology, almost 90% of documentation is processed manually. This can be highly labor-intensive and can adversely affect the bottom line especially in the current unpredictable market scenario.
Freight Forwarders who handle large volumes of invoices can benefit from the visibility and efficiency gained from e-invoicing and achieving a fully automated AP/AR process. In a fast-paced environment that requires precision, accuracy, and efficiency, distributors employing the right back-office AP and AR automation technology, supporting the right AP and AR processes are best equipped to deliver better front-office service to suppliers and customers.
The key to success in the AP/AR operation is the efficient and timely processing of incoming document flow, controlling the cost of procure-to-pay and order-to-cash transactions, and ability to handle peak volumes without the need to significantly scale the labor force. To maintain competitiveness and meet the increasingly demanding requirements, it is imperative that freight forwarding companies streamline and automate AP/AR processes wherever possible.
Axe Bpo’s AP/AR Outsourcing Service
With the powerful technology available today, an end-to-end AP/AR Automation solution is the only way to do business in the Freight Forwarding industry. Using proprietary technology, Axe Bpo has developed an electronic application service that automates data entry. Our comprehensive AP/AR Automation service helps freight forwarders create a paperless conduit between companies, suppliers, and buying groups/purchasing co-operatives and their members, enabling them to manage 100% of their invoices electronically, both effectively as well as efficiently.
Benefits of AP/AR Automation
AP/AR Automation enables considerable cost savings, even up to 80%, as companies can get rid of time-consuming and manual processes, such as printing, filling envelopes, mailing, scanning, keying in invoice data, manual matching of invoices to orders and archiving.
The automation process offers the following benefits:
Reduced manual data entry processing
Reduced errors from manual data-entry
Reduced operational costs
Decreased spending on staffing
Greater visibility and control over cash flow and spend
Improved operational efficiency
Improved customer service
Managing payables and receivables has a direct impact on cash flow, so there’s no doubt that improving your AP/AR process can significantly enhance your bottom line. By spending less time handling internal AP and AR process issues, freight forwarders are better armed to speedily and comprehensively serve customers and manage supplier relationships.
Adopt AP and AR automation technology and foster stronger, more reliable and more profitable front-office relationships with suppliers and customers.
Contact us to find out how Axe Bpo can help you optimize your AP/AR process today.