Supplier Bills & Payables

Minimizing fraud and increasing profitability

Processing and paying supplier bills is an area where “best of breed” practices can add value to your business by providing:

• External control over acceptance and payment of bills which minimizes fraud
• Timely payment of supplier invoices which ensures competitive prices from Suppliers
• Ongoing and intelligent evaluation of discounts for early payment which can increase profitability
• A low risk, easily achievable and auditable activity which improves profitability.

Components of Accounts Payable processes

We understand the processes involved in invoice payment services.

We can manage all or a part of the following accounts payable services for you:

• Update accounting systems with:
  • Purchase orders
  • Evidence of receipt of goods/services
  • Supplier invoices
• Verify and approve Supplier bills (after matching with purchase orders and receipt of goods/services)
• Alert/escalate instances where:
  • Purchase Orders are issued without authority or budget
  • Goods/services are accepted by a person not designated to do so
  • Supplier bills are not backed by evidence of delivery of goods/services
  • Supplier bills do not conform to terms of vendor purchase order
  • Supplier bills are incorrectly computed
• Follow up on “open” alerts/escalations until the issues are resolved
• Process Supplier bills that are acceptable; update Accounts Payable system
• Evaluate and recommend early payment of invoices where a cash discount is attractive enough for paying supplier invoices early.
• Account direct payments (through documentary credits) based on bank advice
• Prepare a list of supplier payments due; take approval from your Treasury for payments to be made; prepare disbursement instructions (direct transfer instructions or checks) and transmit for your signature and dispatch
• Prepare Debit notes or Credit Notes where necessary
• Maintain Accounts Payable records
• Prepare Statements of account for Vendors
• Reconcile Statements of account from Vendors with our books
• Provide analysis of open PO commitments, unbilled supplies etc...
• Provide analysis of amounts owed to Vendors; summarize by segment, by age
• Provide analysis of purchase history and trends in supplier prices

Outsource processing of supplier invoices to reduce the post-delivery cost of purchases. Use our accounts payable outsourcing services to reduce your exposure to fraud.