AxiomBPM‘s accounts payable service is transformational, to say the least. Our top of the line automation system guarantees impeccable document management due to our constant hard work on updating and improving it.
Human errors such as duplications are a thing of the past. We also flawlessly handle transaction management, exception resolution, and disbursement related services.
AxiomBPM offers extremely practical solutions in all aspects of outsourcing your accounts payable. Instead of having to hire your own staff and handling all their salaries and bonuses then training them. Not to mention the expensive software licensing and constant updating.
We use the latest techniques and practices including Sarbanes-Oxley compliance which results in a great reduction in discrepancies and a significant increase in the financial control. All that translates into improvements for your bottom line.
The Accounts payable services we offer:
We are up to date on all the needs and legalities required for our customers from the USA and UK.
Our End to End solutions include:
Data Capture: Receipt and management of all paper-based payable documents. This includes:
- Batch preparation
- Document indexing
- Document storage and retrieval
- Receiving and processing incoming mail
- Audit and reconciliation of scanned invoices
- 100% availability of scanned invoices
Data Processing – Exception Management/Resolution: we resolute and manage all exceptional transactions. This includes:
- Approval and exception routing
- Shortened month-end closing process
- Documented audit trail
Suspect Duplicate Analysis: Audit and control mechanisms to eliminate the risk of duplicate payments and support recovery and reclamation through:
- Manual and automated data entry
- Three-way database matching
- Electronic invoice processing
Disbursement Services: finalize all aspects of payments in the least amount of time possible to reduce customers’ floating costs.
- Print and distribution of checks
- Secured maintenance of check stock
- Online check proofing
- Return check handling
- Electronic payment handling
- Special invoice mail handling
Our accounts payable services are very inclusive, our services include utility bill management, accounts payable reports, processing of travel and expenses, tax reporting and supplier management.
Not to mention the grade A customer service and special projects report most of our clients have gone accustomed to during their interactions with us.
Our workflow is simple yet elegant:
Step 1 – Invoice Receipt: Customers’ hard copy and electronic invoices are received.
Step 2 – Image and Data Capture: All documents are stored as images and all invoice images are view able.
Step 3 – Process and Route: Invoice documents are processed according to previously agreed upon business rules with the customer. Invoices are routed to the relevant customer executives for approval and final resolution.
Step 4 – Disburse and Archive: An approved invoice is uploaded to customer’s A/P system for payment through standard interfaces on all accounting platforms. The invoices are then posted to the General Ledger as ’normal’. We also perform disbursements. The hardcopies are stored at our facility and the electronic images are searchable online.
Five reasons why you should outsource your Accounts payable Services:
- Your invoices will be paid well before its due date:
This is thanks to our automation system that procures and processes all your bills and allocates their payment before their due time.
- We send you monthly, quarterly or annual reports depending on your needs:
No need to search for a needle in a haystack. Each and every single month we’ll send you a clear and detailed report containing all bills processed and all the updates on your accounts.
- View co-relations between checks issued and invoices that were already paid:
Another benefit to our automation system is that there is no room for human error such as duplication. Each bill is marked by a serial number, and once payment is issued for that bill, it cant be repaid again unless done with a manual command
- All your vendors will be ensured to compliance to SOX
- Instead of having to hire an entire staff and train them, you can fully utilize BRAND’s team and all their expertise and training of payable accounts
So why choose Axiom over anyone else to handle your Accounts payable?
- Our workflow and automation system is highly effective and is up to date on the latest and most optimum practices in the industry.
- We can guarantee you 24/7/365 of active online communication to help you with any question or inquiry you my have.
- We can boost your relations with your vendors.
- Significantly drop the number of invoice discrepancies and disputes.