Streamline your payables process with invoice processing, dynamic discounting strategies, and real-time payment tracking.
Accounts Payable Outsourcing
If you are still using in-house resources and manual AP processes, you are at a risk of experiencing a 30% error rate, causing delays, financial setbacks, and inaccuracies. Accounts Payable Outsourcing can help transform your payable process to maximize liquidity or boost vendor satisfaction. At Flatworld Solutions, we assess your current system for issues like manual invoice entry, process variability, and insufficient spend visibility. We follow standardized practices to cut exception rates, eliminate bottlenecks, and simplify operations.
Our tech-infused invoice processing, dynamic discounting, and real-time payment tracking convert outdated practices to modern efficiency. Our services boost transparency for better performance assessment and strategic improvements. We strengthen vendor relationships by ensuring timely payments and securing robust supply chain partnerships. Partnering with us means investing in an AP system that drives excellence and business success.
Transform your payables with our automated solutions. Contact us to enhance compliance, streamline transaction management, and expedite payment cycles.
Accounts Payable Services We Offer
Managing payable workflow requires adequate bandwidth, automation software, and significant resource allocation. With our expertise, we offer a comprehensive range of services including:
Invoice-to-PO Reconciliation
We use automated matching solutions to ensure seamless invoice alignment with purchase orders. It enhances vendor trust, reduces processing times, and optimizes reconciliation accuracy.
Purchase Order Management
We deploy workflow automation and real-time tracking to streamline purchase order processes. We help boost procurement efficiency and ensure compliance with vendor agreements and internal controls.
Debit Memo Administration
Our system-driven approach allows us to manage debit memos with precision. It minimizes revenue leakage for our clients and enhances financial transparency.
Standard Pricing Data Management
We use data validation protocols and dynamic pricing analytics to maintain our pricing accuracy. It supports consistent revenue strategies and eliminates pricing errors across all sales channels.
AR Aging Report Generation
Our analytics-driven reporting delivers precise AR aging insights. It enables us to perform effective credit control, accelerate cash flow optimization, and enhance debtor management strategies.
Monthly AP Ledger Management
We integrate ERP systems to ensure accurate ledger maintenance, which enhances financial governance, reporting precision, and compliance with regulatory standards.
Sales Tax Compliance Processing
Our tax compliance solutions ensure we adhere to regulations and reduce audit risks. They facilitate seamless tax remittance through automated calculations and comprehensive reporting.
Our Other Accounts Payable Services
As a leading AP service providing company, we also provide the following services -
Data Capture
Sorting
Batch preparation
Scanning
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
Approval and exception routing
The shortened month-end closing process
Documented audit trail
Suspect Duplicate Analysis
Manual and automated data entry
Three-way database matching
Electronic invoice processing
Disbursement Services
Print and distribution of checks
Secured maintenance of check stocks
Online check proofing
Return check handling
Electronic payment handling
Special invoice mail handling
Additional Accounts Payable Outsourcing Services
Utility bill management
Travel and expenses processing
Tax reporting
Supplier management
Special projects reports
Customer service
Enhance Your Accounts Payable Processes with Intelligent Data Capture
Our approach combines best-in-class accounts payable outsourcing processes with innovative automation to revolutionize your procure-to-pay process. We transform your accounts payable into a value-driven engine, enhancing vendor relationships and uncovering cost-saving opportunities. Our holistic approach boosts agility and ensures decisions are backed by insightful analytics.
At this initial stage, we receive your hard copy and electronic invoices. We categorize and store these documents for further processing.
Next, we automatically extract and digitize data from your invoices using optical character recognition (OCR) and machine learning (ML) algorithms. This step simplifies data entry and reduces errors, allowing your team to focus on strategic tasks.
In this stage, the processed invoice documents are routed to the relevant customer executives for approval and final resolution.
We streamline approval processes to ensure timely payment cycles, helping you avoid late fees and improve vendor relations.
Approved invoices are uploaded to the customer's accounts payable system for payment through standard interfaces across all accounting platforms. Once processed, invoices are filed in the General Ledger. Hard copies are stored at our facility, while electronic images are available online.
Our best-in-class tools provide real-time visibility into critical areas such as cash flow management, empowering you with agile decision-making capabilities.
What Makes Us a Top Choice Among Accounts Payable Outsourcing Companies?
With 20+ years in the industry, we offer turnkey solutions that streamline payments, improve compliance, and add value through optimized batch payments and dynamic discounting. The benefits of partnering with us include:
Streamlined Invoice Matching
We use AI-driven systems to automate invoice matching with purchase orders and contracts. Our services reduce processing times and minimize manual intervention, ensuring faster and error-free reconciliation.
Adaptive Order Automation
Our end-to-end automation of order processes—including creation, approval, and closure—enhances transparency and accuracy. This may lead to up to a 30% improvement in our clients' procurement cycle efficiency.
Proactive Fraud Risk Mitigation
We use advanced analytics tools to identify discrepancies, reduce errors, and mitigate fraud risks by implementing robust controls, thus safeguarding your financial integrity.
Standard Pricing Optimization
Our advanced analytics enable real-time updates and validation of standard pricing information. It reduces pricing errors and supports consistent revenue strategies across diverse markets.
Comprehensive AR Aging Insights
We provide custom AR aging reports that offer actionable insights into receivables. We use detailed, date-range-specific data to help create better collection strategies and cash flow forecasting.
Improved Vendor Relationships
Our offshore experts leverage timely payment processing and enhanced communication to strengthen supplier partnerships. We reduce supply chain risks and ensure a steady procurement flow.
Additional Services You Can Benefit From
Accounting Services
Track your finances, analyze your reports, and project your future profits with our proficient accounting services.
Accounts Receivable Services
Ensure timely payments, identify and recover delayed payments, and improve cash flow with accounts receivable services.
Tax Preparation Services
Prepare tax documentation, organize your finances, and gear up for the tax filing season with our tax preparation services.
Bookkeeping Services
Manage your finances promptly, maintain clean books, and keep your books updated with our bookkeeping services.
Invoice Processing Services
Process and log accurate invoices to get paid on time for your services and products with our invoice processing services.
Payroll Processing Services
Save time and pay your taxes on time with our quick, accurate, and efficient payroll processing services.
Client Success Stories
Accounts Payable Services Provided
Flatworld developed a cash flow system for a customer to regulate the processing of the customer's transaction-related documents (invoice proof of delivery, bill of lading, etc.)
Read MoreBilling Services for a Law Firm
A leading law firm was looking for a cost-effective and reliable billing service provider. Our team provided the services within a quick time.
Read MoreOutsource Accounts Payable Scanning Solutions to Streamline Payments
Effectively managing accounts payable demands advanced tools and a skilled team. Our 200+ experts trained in U.S. GAAP and IFRS ensure precision, streamlining complex tasks with critical thinking and adaptability. By fostering a culture of innovation and establishing a Center of Excellence, we offer ongoing support and drive high-quality operations. Partner with us to transform your AP cycles and ensure a strategic financial advantage for your business.
FAQs
USA
Flatworld Solutions
116 Village Blvd, Suite 200, Princeton, NJ 08540
PHILIPPINES
Aeon Towers, J.P. Laurel Avenue, Bajada, Davao 8000
KSS Building, Buhangin Road Cor Olive Street, Davao City 8000
INDIA
Survey No.11, 3rd Floor, Indraprastha, Gubbi Cross, 81,
Hennur Bagalur Main Rd, Kuvempu Layout, Kothanur, Bengaluru, Karnataka 560077