ACCOUNTS PAYABLE

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Benefits   |    Implementation

AGHAZ Consulting’s Accounts Payable Outsourcing Services Provide Centralized Control Over Payables and Other Best Practices While Reducing Costs by 25% to 50% Annually


Most finance organizations spend a large part of their Finance budget on processing Accounts Payable.  This is due to the largely manual effort required to enter invoices into the accounting system and, if applicable, match those invoices to purchase orders and receipts.  Yet while Accounts Payable is critical to ensure that authorized invoices are paid accurately, it is often not managed to world-class standards due to the time and expense required to implement best practices.

Is your organization utilizing 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 defined and well-documented business rules for matching invoices to PO’s and receipts and approval levels that are followed explicitly by managers and Accounts Payable staff

  • We catch all duplicate invoices and have very small tolerances for invoices that do not match the PO or receipt

  • We know the number and dollar value of outstanding invoices (liabilities) before they are approved or matched

  • We know how many of our invoices 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 receive invoices centrally and route those invoices to the managers that know whether the invoice is accurate, no matter where the manager is physically located

  • We have images of all invoices and can look them up on the web quickly and easily, eliminating time spent filing and retrieving invoices

  • We let our vendors look up invoice information and payment status on the web to reduce the volume of phone calls to our staff

If you answered no to any of the above questions, you should consider AGHAZ Consulting’s Accounts Payable Outsourcing Services.  AGHAZ Consulting’s Accounts Payable Outsourcing Services provide the following benefits: 

  • 25% to 50% annual A/P processing cost savings without capital investment

  • Greater, centralized control over payables across the enterprise, irrespective of physical location

  • World-class quality and accuracy from AGHAZ Consulting’s ISO 9001-certified service centers, ensuring accurate matching to PO’s and receipts and elimination of duplicate and erroneous payments

  • Real-time tracking and reporting of all payables from the time they are received from the vendor through disbursement, for client employees and their vendors

  • Reporting of A/P matching exceptions by vendor and exception type for improved procurement and vendor relations

  • Automated routing of payables for approval by business unit managers irrespective of location, enhancing control and manager productivity

  • Elimination of the headache of recruiting, hiring and managing clerical staff

  • The ability to focus on strategic, pertinent finance issues instead of non-value added activities such as A/P

 


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