• Dispassionate and strong control over acceptance and payment of bills prevents leak of profits and minimizes threat to stockholder value.
• Timely acceptance and payment of bills ensures continued enjoyment of competitive prices from your supply chain.
• Continuing and intelligent evaluation of discounts for early payments versus your cost of borrowing or cost of funds can increase your profitability.
• This low risk and auditable activity is a “low hanging fruit” to improve profit by reducing cost of back office operations by outsourcing to experts who can get the work done with high quality and low costs.  The cost saving can be as high as 50% from Day One.

We understand the processes involved in acceptance and payment of supplier invoices.

We can offer you all or a part of following services for you:

• Update and maintain a database of purchase orders
• Update and maintain a database of evidence of receipt of goods or services
• Update and maintain a database of supplier invoices
• Verify evidence of receipt of goods/services for each supplier invoice
• Ensure the invoice conforms to the terms of the purchase order
• Alert/escalate following instances: 
  • Instances of Purchase Orders issued without sufficient authority or sufficient budget (as per your business rules)
  • Instances of acceptance of goods/services without sufficient authority (as per your business rules)
  • Instances of invoices not backed by sufficient delivery of goods/services
  • Instances of invoices not in conformity with the terms of purchase order 
    • Goods/services supplied are short or in excess
    • Prices charged are not as agreed
    • Discounts (for volume, early payment, promotions etc) have not been extended as agreed
    • Taxes applied seem inappropriate
    • Amount payable is not computed correctly
• Follow up on “open” alerts/escalations until the issues are resolved
• Process invoices that pass for availability of a valid Purchase Order and satisfactory evidence of delivery of goods and services; determine the input taxes to be set off against output taxes; determine taxes to be withheld on payment; determine the accounting allocation of charges and credits; update Accounts Payable system
• Evaluate and recommend early payment (in consideration of a discount) vs payment on due date as per credit terms
• Account direct payments (through documentary credits) based on bank advices
• Prepare a list of 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 (Our insurers frown upon us executing payments on your behalf; we don’t do that)
• Set off invoices and payments periodically and at end of accounting periods
• Prepare Debit notes for reverse flow of goods or discovery of shortfall in services; debit notes and credit notes for changes in prices/discounts, early payment discounts and overdue interests as instructed by you
• 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 by vendor, by segment, by age
• Provide analysis of purchase history and trends in supplier prices

It is easy to start using us without any significant upfront investment. All you need to do is to acquire a firewall (if you don’t have one) so that we can have a safe/protected access to your system from our delivery center. You need to provide us access to your systems; and arrange for input documents to be scanned and uploaded into a simple document management system. We would take care of the rest Over a period of time, you would find the processes streamlined (thanks to our relentless pursuit to ensure all inputs are available and vendors are promptly paid the right amount.

• Dedicated professionals on a full time basis (starting from a fraction of an accountant to as many as you want) and charge you a “time based price” or
• Service on a “full responsibility” basis and charge you a “transaction based price” (of course after we gain reasonable insight or experience into the complexity surrounding your purchasing processes and practice).