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Outsource Partners International’s Accounts Payable (AP) outsourcing solution works to transform the AP function from a paper based, labor intensive process into an efficient, automated function that can be used by leadership to better manage the business.
Our skilled professionals optimize AP by deploying a combination of process best practices in conjunction with enabling technologies. We draw upon document imaging and/or eInvoicing to digitize invoice data before routing information through workflow. Our flexible and configurable web-enabled workflow application then automates and manages the invoice coding and approval process, before exporting completed invoice data to our client’s ERP systems for payment. All the while, OPI’s highly skilled professional accounting staff work to centralize, standardize, streamline process flows, and reduce exception rates.
Most importantly, our outsourcing solution offers increased visibility and transparency into the AP function. With reporting at your fingertips, client management gains important intelligence that can be used within the larger source to pay cycle to manage terms with vendors, forecast cash flow, better manage profitability, improve compliance, and monitor customer service levels.
As with all of our services, our AP outsourcing offerings are entirely customized to each client’s needs.
Typical benefits include:
- Quick forecasting of daily cash outflow
- Real time invoice visibility from receipt to payment
- Easy retrieval of historical invoice payment and approval details – for research or audit purposes
- Identification of invoice/payment discrepancies and approval bottlenecks before they result in late payment penalties
- Improved and measurable productivity
- Guarantee that payment approval level policies are in place and followed
- Improved financial compliance and Sarbanes-Oxley controls
- Reduced processing management and oversight
- Savings of 30-60% over current AP costs
- Enhanced profitability
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> For more information, download the OPI Accounts Payable flyer.
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