Outsourcing Accounts Receivable
AP & AR are the most important and critical processes in every business. As when it comes to buying goods and services, businesses face significant, costly ,and flawed A/P Processes, so the improvements there may lead to a significant impact on an organization. IBN's Mission is to help organizations run their business process more efficiently and more profitably with their AP & AR Functions.
Accounts payable (AP) and Accounts Receivable (AR) today is a strategic business function that optimizes working capital, enables more significant savings for the business, and helps improve supplier relationships. Many companies are using IBNs Accounts Payable Outsourcing Services, and they find that they save up to eighty percent on the cost of labour alone. Additionally, they save money related to errors on invoices. IBN also provides Account Receivable Outsourcing Services, in that process that allows small businesses to sell their accounts receivables and other invoices to an external financing company.
IBN offers Purchase to Pay Services (P2P), Order to Cash services (O2C), and Record to Report (R2R) Services with detailed Aged Debtors Report (ADR) as per client's requirements clearly defined at the time of agreements and with well-defined SLAs in place.
The process of Accounts Receivable Outsourcing Services in USA begins early with a process known as image capture. In this process, the financing company uses different recording techniques in recording and analysing business transactions. The company indexes transaction documents such as purchasing orders and delivery notes by recording information such as name, date, particulars of the transaction and the invoice number. The company then stores this information digitally so that it can be retrieved with ease. Whenever the information is needed, the company can retrieve it from a computer.
The next step that Accounts Receivable Outsourcing Services in USA take is to scan the Proof of Delivery which is popularly known as POD. The financing company ascertains the signatures on the POD to ensure that the customer actually received the goods. After this, the company concentrates on the creation of invoice statement and when the due date arrives, it initiates the process of collecting cash from debtors. The accounts receivable outsourcing company focuses on good relationship with the clients while at the same time trying to collect money in the shortest time possible.
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