Accounts Payable Outsourcing UAE
Accounts Payable Outsourcing is an important aspect in every business as it holds the relationship bridge with the vendor/Supplier in paying the bills in due course. As your business grows you will get piled up with an invoice and managing it becomes a stumbling block if there are limited resources in your accounts payable department.
Accounts payable departments are still dependent on paper invoices, checks, and costly systems like optical character recognition. In an era of technological improvement accounts payable is becoming automated by which it handles the payment tasks efficiently, cost effectively, and accurately. This gives a company gaining a cutting edge over its competitors.
Our Workflow in Accounts Payable
- Perceive your business operations and control
- Setup your workflows
- Invoice and file management (digital /hardcopy)
- Invoice processing (Validation and approval)
- Payment processing (Cheque/Electronic)
- Reconciliations and records management
- Month/Year-end financial/Analytics reports
- Vendor maintenance support.
Importance of accounts payable
- Paying in due course
- Prevent duplicate payment
- Cost Effective
- Maintaining a good relationship with vendors
- Refrain fraudulent activities
- Time Efficient