How AR and AP Outsourcing Improves Functional Efficiencies

Nowadays, corporations are supervising a composite economy of partners, suppliers, operators, customers and in parallel are processing a huge number of documents relative to regulations and administration. This requires efficiency and accountability in documentation management for optimizing operational efficiencies and avoiding high resource consumption. Nevertheless, it is surprising that around about 70% of this documentation is being prepared manually. This is evidently labor intensive and doubtlessly influences companies’ results.

Companies processing huge invoice volumes benefit from electronic billing efficiency and the visibility for automating Accounts Receivable and Accounts Payable documentation processes. In today’s rush-hour business world, the mounting requirement is efficiency and accuracy. Businesses implementing Accounts Receivable and Accounts Payable automation technology for supporting processes are better prepared at delivering improved services to their customers and suppliers.

Success in an Accounts Receivable and Accounts Payable process is effective handling of inbound documents, controlling transaction costs from purchases to payments through to ordering and collection. It affords the organization the ability to process huge work volumes without scaling up the workforce. To maintain business aggressiveness and meeting the ever-demanding requirements, it is a given to automate and simplify the Accounts Receivable and Accounts Payable processes.

Velan’s AR and AP Outsourcing Services

With the latest technologies, the most secure and stable way to process Accounts Receivable and Accounts Payable is automation end-to-end. Velan has developed services that automate information entry, information validation, reconciles invoices against orders and delivery remarks, electronic approval workflows, and records payment invoices or collection follow-up. Our automation services help businesses create and maintain paperless processes empowering them to computerize their invoices.

Benefits of Velan’s AR and AP automation

Accounts Receivable and Accounts Payable automation allows for up to 80% in cost savings, as companies get rid of manual processing. Processes like printing, posting, digitization, entering invoice entry, reconciling, information entering, and filing away are all eliminated.

Velan invites you to check how much it costs your business for processing an invoice and compare it with others.

Velan’s automation process benefits: 

Eliminates manual information entry

Eliminates information entry errors

Minimizing invoice matching manual interventions

Minimizing invoice accounting manual interventions

Approval process document flow control

Time reduction in order-to-payment and order-to-collection cycles

Operational cost reductions

Employee cost reductions

Exceptional volume handling flexibility

Higher cash flow and spending control and visibility

Functional efficiency increases

Work-productivity increases

Improved supplier and customer service

Optimum management of Accounts Receivable and Accounts Payable results in a direct effect on cash flows. Automating your Accounts Receivables and Accounts Payables significantly improve a business’ profitability. By using less time to manage the Accounts Receivables and Accounts Payables processes, customers are able to quickly and efficiently provide their service. This results in better management of supplier relationships.

An outsourcing Accounts Receivables and Accounts Payables process strategy fosters reliable, stronger, and profitable relationships with your suppliers and customers.

Give us a call to know how Velan helps you in optimizing and transforming your Accounts Receivables and Accounts Payables processes.

Posted On:June 24,2019

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