Streamlining Accounts Payable Process to drive additional cash flow and reduce working capital
Effective accounts payable (AP) processes that optimize working capital, sustain cash savings initiatives, and enable long-term supplier relationship management can help organizations maximize profits and thrive in rapidly changing economies. As a business scales up in terms of volume as well as geographical presence, Outsourcing of AP process becomes an imperative. It enhances an organization’s image and credibility by ensuring healthy vendor relations.
Axe Bpo combine process optimisation, analytics, and solutions to drive higher impact by enabling a more effective AP function. Axe Bpo outsourcing services encompass end-to-end AP processes, including:
- Document management
- Invoice processing
- Approval and resolution management
- Help desk
- Month-end and internal/external reporting
Our solutions are geared toward helping you improve the operations of your financial back office without disrupting existing systems or software. Our program is capable of scanning and storing documents, bridging and interfacing with numerous accounting packages, automatically merging and error-checking data, monitoring A/P spending and controlling payables on an individual vendor basis.
Improve Productivity- Improves the overall health of the AP process by ensuring that information delivered to the ERP is relevant and qualitative. Reducing time lost in error rectifications. Moreover physical paper-based processes and manual processes are streamlined to bring about standardization of process flows.
Axe Bpo helps your Logistics & Forwarding business streamline their AP process and derive the following benefits:
Improves the overall health of the AP process by ensuring that information delivered to the ERP is relevant and qualitative. Reducing time lost in error rectifications. Moreover physical paper-based processes and manual processes are streamlined to bring about standardization of process flows.
Provide process visibility, clearing out bottlenecks and enabling faster exception resolution.
Making payments to vendors systematically ensures metric based allocation of cash flow , helping in predicting cash requirements.
Enable your business to negotiate discount terms and better credit terms with suppliers and vendors.
Enabling timely payments and also allowing vendors across geographical locations to keep a status track on their invoice submissions.
By reducing incidents of penalties on late payments. Brings down overhead costs and moreover reducing errors through prevents financial penalties as well as loss of your corporate reputation.
Axe Bpo’s well organized and robust Accounts Payable process helps organizations boost performance by lowering costs. It impacts and defines two vital business functions, that of Cash Flow and External Vendor/Supplier Payment Management which are directly attributable to a firm’s profitability.