Outsourcing invoice processing
As companies look to improve productivity while simultaneously delivering a seamless home/office working experience for their employees, they also need to keep a watch on their cashflow. Which is why many businesses are choosing to outsource their Invoice Processing and replace a fixed, overhead cost with a small, pay per invoice cost.
As explains, “Outsourcing and digitizing your invoice processing eliminates human touch points and communication issues, so that wherever your team are based, in the office, at home or a combination of both, it’s quick and easy for them to collaborate, deal with any issues (about 20%) and still pay your suppliers on time,” explains Jack Wright, Sales Director at YourDMS (www.yourdms.net).
“An outsourced service is like an extension to your accounts team. It uses the latest technology and processes to capture the data from your supplier invoices, check and match it against purchase orders, delivery notes and other relevant documentation, in compliance with your business rules, before rejecting or approving for payment,” continues Wright.
“Your Accounts Payable team are notified of approved invoices so they can pay them or are alerted to problem invoices so they can resolve them. You still have control over all payments to your suppliers and making them more promptly will improve your supplier relationships and can often qualify for a prompt payment discount.”
The YourDMS and Cumulus Pro platform (www.yourdms.net/solutions/oip/) automates inefficient, manual tasks and helps companies transform their business processes.
“The system is flexible and scalable, quickly adapting to fluctuations in your invoice volumes so that you only pay for what you need, when you need,” says Wright. “As you grow and your invoice volumes increase, you don’t need to increase the size of your team, saving thousands of pounds per year, that you can reinvest in the business. When your team aren’t overwhelmed with tedious, manual tasks, they can focus their time and attention on work that will benefit the bottom line.”