Every day, the business world gets more competitive, fast and complex; In such an environment your company needs a way to improve your services and stand out from the competition while also cutting costs. Outsourcing accounts payable is a viable solution for companies wanting to do just that. Effective accounts payable processes optimize working capital, sustain cash savings initiatives, and enable long-term supplier relationship management. This can help organizations maximize profits and thrive in rapidly changing economies.
Vendor payment is very important to continue receiving essential services for businesses. Business owners run with many problems with vendors such as non-payments due to so many vendors, double payments, short payments, excessive charges etc. Many business owners employ separate person just to manage accounts payable which is expensive.
We at Hybrid Accounting with the help of our experienced team help you to come out of this hassle at a fraction of cost of employing a separate employee and provide you services that provide you maximum benefit with less input of management teams time.
Accounts Payable Service Overview:
Invoice / Receipt imaging and storing
Approval for payments
Online installment endorsement
Check processing / ACH payment setups
Cash & Trade discount management
KEY BENEFITS OF OUTSOURCING ACCOUNTS PAYABLE SERVICES
Your invoices will be paid before the due date
You can view monthly, quarterly or annual vendor transaction reports
Verification of vendor on compliance with contracts and terms
Ensuring that all bills are recorded and verified with vendor statements
No duplicate payments
Early payment discounts and payments as per cash flow situation