Accounts Payable & Receivable Services
Streamline financial operations, cash flow management, enhance accuracy and improve vendor relationships with our customized AP & AR solutions.
- Accounts Payable Services
- Accounts Receivable Services
- Payment Processing
- Reconciliations
- Vendor Management
- Fraud Detection
What brings you here?
Experiencing delays in invoice processing due to manual accounts payable processes?
Missing payments or duplicate payments being rolled out due to inability in managing multiple vendors and suppliers?
Strained vendor relationships and financial losses due to lack of centralized AP processes?
Strained customer relationships leading to disrupted cash flow, bad debt, higher collection costs?
Facing difficulties in identifying patterns, and recurring issues due to lack of workflow automation?
Connect with our Experts
to get all Your Answers
- 20+
- Years In Business
- 85+
- CLIENTS SERVED
- 1150+
- PROJECTS DELIVERED
- 250+
- EMPLOYEE Strength
Our Esteemed Clients
Why Invest in Accounts Payable and Receivable Services?
94% -of businesses experience a negative impact due to late payments!
As a finance leader, you don’t want to be in that spot where you lose earnest vendor partnerships due to delayed payments, do you?
All you need is an effective vendor management process in accounts payable!
1.5% to 2% -An average of total revenue being written off as uncollectible!
Writing off the revenue as uncollectible is a heartburn to take, isn’t it? As a finance leader, you should always make an effort to keep the cash flow healthy with your customers paying invoices on time, don’t you?
15-20 Hrs -Average time spent weekly by businesses on collection activities!
This equates approximately to three business days!
As a finance leader, do you find it worth wasting your team’s productivity on tasks like collection while high-value tasks are suffering?
Accounts Payable and Receivable Services We Offer
Accounts Payable Services
Accounts Payable is not just a transaction-oriented function. With the modernized business outlook, it’s a strategic business function that focuses on managing business capital efficiently to foster vendor partnerships.
List of Accounts Payable Services Offered:
- Invoice processing and management
- Vendor management and communication
- Payment scheduling and execution
- Expense reporting and analysis
- Purchase order management
- Data entry and verification
- Reconciliation of accounts payable records
- Compliance and audit support
- Vendor payment dispute resolution
- Document management and storage
Invoice Processing:
- Invoice scanning
- Invoice indexing
- Invoice validation
- Inter-company invoice processing
- Non-PO/Expense invoices processing
- Travelling & expense invoice booking
- Freight invoices processing
- Invoices stuck in the error queues.
- Identifying duplicate invoices
- Clearing out-of-balance invoices
3-WAY Matching & Vendor Management
- 3-way & 2-way matching, releasing the invoices for payment
- Payment processing of PO & Non-PO invoices
- Payments: Manual payments, Prepayments, Check payments, Check void and reissue, Wire payments, ACH payments
- Managing Vendor accounts and resolving queries
- Reconciliation: Vendor statement reconciliation, Inter-company reconciliation, GR/IR reconciliation (inventory reconciliation)
- Manual Clearing
- Supplier support via calls & emails
- Vendor maintenance -new vendor creation, Address change, ACH set up, Change in banking details, Reactivation, Vendor merge/Factor Relationship, Vendor verification.
- Month-end activities - Accruals & Provision
- Vendor Debit balance working -Preparing debit balance letter.
- Requesting refunds, resolving queries related to Dr balance, Sending warnings for collection letters.
- Settlements
Chargebacks & Credits
- Credit memo processing
- Credit reconciling
- Chargebacks adjustment
- Settlements
Accounts Receivable Services
Are you losing even a percent of revenue as uncollectible or marking it as a bad debt?
You don’t need to do this, anymore!
With our dedicated accounts receivable services, you will be at peace with your worries about collectibles.
List of Accounts Receivable Services:
- Invoice generation and delivery
- Customer billing and payment processing
- Collection and dunning letter management
- Cash application and reconciliation
- Customer account management
- Aging analysis and reporting
- Customer credit management
- Payment reminder and follow-up
- Bad debt management and recovery
- Compliance with invoicing and taxation regulations
- Invoice / Credit memo issuance
- Payment /Cash application
- Reconciliation: Debtors/Customer reconciliation & Bank Reconciliation
- Collection letters
- Customer service: Solving queries & providing support via calls & emails
- Processing Sales returns
- Customer aging reports and follow-ups
- Manual Clearing
Reconciliation
Accounts Payable Reconciliation
Inter-company reconciliation is another capability, that we offer.
To ensure consistent & frictionless internal procedures and foster stronger and long-term vendor partnerships.
Accounts Receivable Reconciliation
Settlement services, month-end operations, and effective cash-flow management are some additional capabilities, that we offer. To help you streamline payment procedures & foster stronger customer relationships.
- Invoice reconciliation
- Payment reconciliation
- Aging report reconciliation
- Vendor statement reconciliation
- Sales reconciliation
- Aging report reconciliation
- Customer payment reconciliation
- Customer statement reconciliation
Payment Processing
Payment processing is yet another overhead, that comes with great responsibility.
An inch here and there, and you land a hunch on your reputation.
All you need is the right accounts payable and receivable service partner – whom you can trust!
Initiation
We start with verifying the accuracy and validity of the invoices received and proceed to the payment schedule based on due dates.
Approval
The invoices are then sent for approval to the relevant departments or individuals based on the organization's approval hierarchy.
Scheduling
Approved and verified invoices are scheduled for payment based on the organization's payment terms, cash flow, and vendor payment policies.
Execution
Payments are processed through the chosen payment method, such as electronic funds transfer (EFT), checks, or other payment systems.
Reconciliation
The team reconciles the payment records with the bank statements to ensure accurate and complete payment processing.
Records
All invoices, approvals, payment receipts, and reconciliation records, are filed and stored for future reference and audit purposes.
Vendor Management
Vendor management plays a crucial role in both accounts payable and accounts receivable processes.
It involves establishing and maintaining relationships with suppliers and vendors to ensure smooth transactions, efficient financial management, streamlined operations and fostering of long-term partnerships.
Purchase Orders
Purchase orders are created timely, and tracked diligently. So that, the vendors are communicated about the order confirmation.
Invoice Processing
Invoices are matched with purchase orders before processing. This avoids discrepancies in adhering to the approval workflows.
Vendor Relationships
We uphold vendor relationships to ensure streamlined operations & dispute- free, long-term vendor partnerships.
Vendor Insights
Vendor performance is monitored based on invoice accuracy, timely delivery & responsiveness to inquiries.
Manage Contracts
Vendor contracts are negotiated, managed, and renewed adhering to the set compliances with terms & conditions.
Risk Management
Risks are analyzed and managed with effective vendor assessments based on vendor financial stability & data security measures.
Fraud Detection
As a part of our account payable and receivable services, we can implement rigorous measures and utilize tools to detect and deter fraudulent behavior, to safeguard your organization’s financial assets.
Invoice Fraud
Frauds like inflated or duplicate invoices, fictitious vendors, and altered payment details or any other irregularities are identified.
Payment Fraud
Unauthorized payments, check tampering, or fraudulent wire transfers can be detected through implementing robust payment monitoring processes.
Vendor Fraud
Any signs of vendor fraud, such as collusion, kickbacks, or ghost vendors are identified by periodically reviewing existing vendor records.
Employee Fraud
Embezzlement, unauthorized access to financial systems, and manipulation of financial records are identified through internal control and periodic audits.
Anomalies
Unusual patterns, outliers, or suspicious transactions that may indicate fraudulent activities are identified by analyzing large volumes of data.
Prevention
We implement robust internal controls, segregate duties, conduct regular audits, and employee training on fraud awareness and prevention.
Why Choose Accounts Payable and Receivable Services from Integrative?
Years in Service
Top-Notch Expertise
Customer First Policy
Frequently Asked Questions
1. What is the importance of efficient accounts payable and receivable management?
Ans: With the help of a reliable accounts payable and receivable services company, you get to streamline your vendor & customer payments. Apt payment processing ensures that you foster lasting vendor partnerships and customer relationships. And besides the relationship part, you start practicing superior control of financial operations.
2. How can your services streamline our accounts payable processes?
Ans: To ensure that we achieve complete accuracy and transparency with our accounts payable services, we practice a 3-way and 2-way matching mechanism. We also encourage the best practices to be followed whilst managing the vendor master data. In order to support your vendor queries with prompt responses, we have a vendor help desk in place.
3. What benefits can we expect from outsourcing accounts receivable services?
Ans: Outsourcing accounts receivable services can bring you multifarious benefits such as improved and regularized inward cash flow, declining bad debt or collectibles, fostering customer relationships, and opportunities to focus on core business objectives.
4. How do you handle disputed invoices?
Ans: We have a specialized team of experts that handles disputed invoices quickly and effectively, collaborating with vendors and customers to find amicable solutions and minimize disruptions to your cash flow.
5. Can you provide insights into our financial performance through accounts payable and receivable data?
Ans: Yes, certainly. It’s not something that you ask for, but something that we offer as part of accounts payable and receivable service. We offer you detailed insights into your financial performance, vendor and customer payment patterns, and trends. We believe this helps you in building better vendor partnerships and customer relationships.