Accounts Payable is a credit that your business can avail from suppliers. Accounts payable function cannot be ignored as this will only disrupt cash flow and ruin supply chain and supplier relations. It affects working capital, which will lead to the reduction of the profit. A prompt payment can enable you to avail discount when it payment is made before the due date for payment. Also, not paying on time might have a more significant issue like breach payment terms with your suppliers and end up in litigation. Accounts payable outsourcing services can be the perfect solution for managing all your payable's needs.

AFCOS understands that accounts payable is handled well and it can avoid uneven cash flow. We provide outsourced accounts payable services which will help to process accounts payable efficiently and is supported to all business. We prepare periodic reports as per clients' requirements. We can offer efficient online accounts payable services and help you improve cash flow and also maintain supplier relationship.

Is outsourcing accounts payable service beneficial?
Businesses outsource accounts payable because it is effective and easy when compared to having the same developed in-house especially for businesses with a high transaction volume. Businesses can focus on their core business activity and be assured that they do not default on any payment. Accounts payable services provider assist businesses in ensuring that they do no lack behind in accounts payable tasks, which can disrupt cash flow. Outsourcing account payable service to AFCOS, will enable you focus on other operational matters like delivery etc.

​

Accounts Payable Automation Services We Offer

We provide the following Accounts Payable Automation Services:

​

Data Capture

Management of paper-based documents that includes

• Sorting

• Indexing Documents

• Auditing & Reconciliation

• Storage of documents & retrieval

• Processing and receiving the incoming mail

Data Processing
Management of the exception transactions that include -

   •  Exception and Approval
  •  Reduces month-end process of closing activities
  •  Audit trail
 

Control over Duplication
Control and auditing mechanism -

• Manual data entry services

• Database matching

​

Efficient Disbursement

• Return check handling

• Invoice & Mail handling

• Electronic payment advice for easy payment

​

Other Accounts Payable Services

• Supplier Management

• Expenses & travel cost management

• Tax reporting   

​

Benefits of Outsourcing Accounting Payable Services

Efficiency Improvement - Outsourcing tasks like accounts payable helps you focus on your core areas of business.
Optimum Personnel Cost - Accounts Payable Outsourcing pricing when compared to hiring in-house resources works out to be more cost-effective.
Tracking – AFCOS will act as your outsource partner and can act as a continuous tracking service provider, thus helping to pay off payables on time.
Omission / Error Free Service – AFCOS will enable to utilises accounts payable automation software that enables the reduction of any errors.

​

Advantages Offered by AFCOS

AFCOS will provide the following advantages to your business

• Timely payment of invoices

• Confidentiality of data shared

• Safe and secure access to your data

• Regular reports

• Cross-examining checks issued with the paid invoice

• No capital investment on expensive software

• Adhere to compliance with on-time payment

• Experts without incurring overhead costs

• Digitisation of the Accounts Payable function