5 reasons why you should consider outsourcing invoice processing…
- Accurate and on-time processing
Timely payment of invoices is the key for businesses. Default on payment and your reputation is at stake, late inward receipts can be a disaster for your working capital requirements. An outsourced company will keep track of all receipts and payments. Upload the invoices and the outsourced company will scrutinize them to verify their accuracy. These will be uploaded in your system through highly secured transfer protocol. Monitoring of the dates and ensuring timely payments and receipts will be done by them.
- Increase business efficiencies
It is natural that you can plan ahead once you can forecast the inflow and outflow of funds with a great deal of accuracy. This is what an outsourced invoice processing company will help you achieve, thereby increasing your business efficiencies. Consistent monitoring by these services ensures that any invoice entered in the system is closed and dealt with as per fixed time frames.
- Cost-cutting while benefiting from advanced software
Invoice processing companies use advanced software for this activity whereby the speed and accuracy of processing is guaranteed. You get the benefit without having to invest heavily or set up the required software in-house. All data whether in electronic or paper form is captured with precision and is then transferred to your system. Specialised recognition technology guarantees that all fields of the invoice like date, amounts, vendor ID, due date and specific instructions are accurately noted. Being precise at this stage is crucial as it will help eliminate any controversies in payments or receipts in the future.
- Track invoices on a real-time basis
You have so much on your hands as a business owner that is almost impossible for you to keep track of your invoices. Opting to outsource the invoices, can ease your concern. Every invoice processed by an outsourcing company is date stamped so that at any point of time you can track the due dates and plan your finances accordingly. Your advantage is that you get updated reports and hence can monitor invoice payments almost on a real-time basis.
- Advantage of centralised processing
For businesses, monitoring of hundreds of invoices is a major problem. But by having one outsourced company that processes all invoices, right from scrutinizing them, entering them in the systems and following up on receipts and payments, you have better control over your invoices. This lets your staff some free time to take care of other priority work and focus on your core business strategies.
We at Pendragon have the required invoice processing systems and a highly qualified and experienced team. To know more about the benefits and advantages of outsourcing invoices and assistance with the same, don’t hesitate to contact us on 02 9407 8700 or reach us at [email protected]