accounts receivable and payable services

Our managed accounts receivable outsourcing and accounts payable outsourcing services aid in improving profitability. Our team defines a meticulous approach to defining the strategic functioning of businesses and automating the cycle of AR and AP at a certain level using the best tools. Accounts receivable outsourcing will help you keep accurate records of received checks, deposits, and account balances. The team will also analyze and verify the bills, invoices, customer statements, debit memos, overdue debts, and more to make a 100% accurate and traceable process of account receivables. Accounts payable outsourcing will help streamline invoice management and implement a painstaking course of invoice checking and verification before processing. The team will also help in rectifying major concerns related to unauthorized or unallied budgets for certain purchase orders, mismatched bills, and other computational errors at the billing level to keep your vendor billing processing system highly accurate and the accounts payable process completely reliable.

Scope of Accounts Receivable Outsourcing Services:

  • Invoice creations as per the products/service delivery and Estimates
  • Invoice update onto the systems
  • Accounts receivable details update on time
  • Regular corresponding for receivables collection
  • Accounts receivables ledger update on receipts
  • Updating advances received, besides receipts against credit sales, etc.
  • Dealing with incomplete payments by raising appropriate queries
  • Preparation of account statements and updating clients for reconciliation
  • Updating clients/touch points for differences in the reconciliation of records in account statements.
  • Various accounts receivable analyses such as aging analysis, business segment analysis, customer area analysis, etc.
  • Cash Flow prediction based on outstanding receivables

Result-oriented Solution

Our Expertise

Independent Consulting Solutions Bermuda provides Accounts Receivable outsourcing and Accounts Payable outsourcing services. Businesses are a collaborative term that comprises multiple entities such as vendors, customers, payment & non-payment parameters, etc. For that, making some advanced systems and tracking of cash flow plays a vital role in managing the organization well. To handle the customers and business partners at the same time with a satisfying experience, it is mandatory to have constant tracking of income and investments for any business.

Scope of Accounts Payable Outsourcing Services :

  • Accounting system updates based on the purchase order, Bills, and goods receipt notes
  • Analyzing the vendor’s approvals based on the follow-ups with vendors as well as purchase orders
  • Resolving issues for the below-mentioned points:
  • Unauthorized or non-budgeted purchase orders
  • Unauthorized receipt of services/goods
  • Non-receipt of services/goods against vendors’ invoices
  • Miss-matching of vendors’ bills with purchase orders
  • Computational errors in vendors’ bill
  • Vendors’ bills posted onto the accounting system
  • Advice on premature payment and discount availability
  • Payment instructions drafting for the due payments
  • Different drafting for credit and debit notes as well as the statement for the vendor accounts
  • Vendor account statement reunion
  • Timely reporting for outstanding PO commitments, the unpaid number of supplies, etc.
  • Payables aging analysis, segment analysis, etc.
  • Vendors purchase history and price trends analysis

Result-oriented Solution

Streamline payment cycle for clients and vendors to strengthen the union with them using our Accounts Receivable Outsourcing and Accounts Payable Outsourcing services:

Managed AP and AR services from a top offshore accounts payable and receivable company will become a great asset for your business. Our experienced AR and AP experts possess a knack to administer and control the rolling payment from customers to businesses and businesses to vendors to validate that nothing is moving down the cracks. Outsourcing accounts receivable and payable services can help you manage end-to-end payment cycles at up to 68% lower cost than keeping and training an in-house team.

Analysis of different account receivables like customer area, business segment, aging analysis, and more.

Regular reporting of diverse account payables like outstanding PO commitments, premature payments, vendor bills, vendor account statements, and more.

Accurate account receivable statement management with accurate recordkeeping of received payments, advanced, cash against credit sales, and more.

Reconciliation of mismatched credit and debit records, bills and purchase orders, unauthorized goods bills, and more.

Accurate cash flow prediction with outstanding payables and receivables to aid further financial decision-making.