ACCOUNTS PAYABLES OUTSOURCING

Most financial organizations spenda large part of their financial budget on processing Accounts Payables. This is due to the largeky manual effort required to enter invoices in to the accounting system and, if applicable, match those invoices to purchase orders and receipts.

While AccountsPayable is critical to ensure that authorised invoices are paid accurately, it is often not managed to world-class standards due to the time and expences required to implement best practices.

ISs your organizations untilizing Accounts Payable best practices to stay in control? If you can answer YES to the following questions, you are :

• We know how many invoices we receive on a monthly basis ?
• We have definesd and well-docimented business rules for matching invoice to PO's and receipts and approval levels that are followed explicitily by managers and Accounts Payable staff ?
• We catch all duplicates invoices and have very small tolerance for invoices that do not match the PO or receipt ?
• We know the number and dollar value of outourcing invoices (liabilities) befor they are approved ot matched ?
• We know how many of our invoives do not match the PO or receipt and why ?
• We know which of our managers have invoices in their inboxes waiting for approval and their dollar value ?
• We have images of all invoices and can look them up on the web to reduce the volume of phone calls to our staff ?
• Let our vendors llok up invoice informations and payment status on the web to reduce the volume of phone calls to our staff ?