Your Trusted Payable Management Partner
Accounts Payable Service is used by organizations to simplify and speed up the accounts payable processes. Following a custom accounting approach with advanced accounting software, FinTax Experts India serves as a trusted partner to help our global CA/CPA firms manage their accounts payable in rapidly changing economies. We work closely with clients to reduce any unwanted entries, paper-less handling and result-oriented and easy-to-understand reports to help effectively manage Accounts Payable.
Not only this, FinTax Experts India has team of over 135+ CAs and Accountants with experience of working over One Million Hours of bookkeeping & accounting tasks and will efficiently manage your revenue, expenses, cash, profits, and everything else related to your financial system. In case of need of our clients, we can customize solutions that are designed to cater to specific financial requirements of small to mid-sized companies.
What Is AP Outsourcing & Should You Outsource It?
As a company when you buy goods on credit which needs to be paid later in a short period of time, the process is called as Accounts Payable. It can be also called as short-term debt payment and the due amount must be paid on time to avoid default. The due amount is displayed as liability on a company’s balance sheet and is recorded in the Account Payable sub-ledger.
Vouchered payment means the invoice is prepared for the payment and recorded in GL as outstanding payment. When you have a lot of workload, such payments are likely to be skipped, resulting in disputes with suppliers and vendors. This is where Outsourced Accounts Payable services come into the picture. Our team of trained accountants will keep record of every pending payments and invoices, with assurance of timely payments.
Benefits Of Accounts Payable Outsourcing
Increased Profitability
Accounts Payable outsourcing enables an efficient and professional system that allows businesses to pay their vendor invoices earlier or on time. Timely payments to clients means better vendor and supplier relationships, resulting in improved business efficiency.
Access to More Resources & Tools
Professional AP outsourcing companies are equipped with latest tools, software and expert accountants to help optimize AP processes. The clients gets access to technology and tools without investing in those tools and technology. So, always a win-win situation.
Reduced Errors
We have the teams of experienced professionals who use automated processes to ensure that Accounts Payable errors are reduced. The payments are made on time, frauds are reduced and there are better chances to grow business relationships with vendors.
Increased Efficiency and Productivity
Thanks to the automated systems used by Accounts Payable Outsourcing services, invoice processing is faster so the companies can deliver work faster as you know that your AP is handled by a proficient team.
Constant Coverage
Accounts Payable Outsourcing companies have professionals that are cross-trained under high standards to cover for absent in-house team members, resulting in proper balance of the workload so the job is done on time.
Industry best practices
Experts India is ISO 9001:2000 certified and ISO 27000 Accredited company so we ensure following practices that are compliant to your industry and country laws. Our goal is to ensure delivering complete peace of mind.
Accounts Payable Services We Provide?
With the right combination of advanced technology, industry practices, and innovative approach, your financial matters are secure with best rated Accounts Payable Outsourcing specialists and CAs at FinTax Experts India. To allow our global clients concentrate on core business areas, we offer a broad range of services to help you secure a sound financial future.
Mailroom & Document Scanning
Our mailroom and invoice scanning services are customized to allow businesses to help centralize receipt of all invoices. All the invoices are converted into digital formats, saving your time on unwanted paper work and data entry to help you focus on more strategic initiatives.
Invoice Data Capturing & Matching
FinTax Expert India’s automated invoice data capturing process is backed by advanced technology that ensures accurate invoice data extraction with zero percent error and maximum accuracy. We capture all the details and upload to your ERP system or any other place you wish these to be uploaded.
Invoice Exception Management
Most payments get delayed due to exceptions and errors in invoicing. It may result in loss of early payment discount opportunities. Our experts will carefully identify and manage invoice exceptions to resolve and expedite payments with your requestors / buyers and suppliers to avoid any such incident.
Invoice Payment Processing
FinTax Expert India provides invoice payment processing solutions to global businesses and CA/CPA firms to help make timely payments as per agreed contract terms. It helps improve cash flow and drive additional savings for the business by capturing early payment discounts.
Cost Recovery & Invoice Audit
We analyze invoices and vendor statements to validate cost recovery opportunities and help businesses reconcile and make financial recoveries. Our finance experts deliver an action plan to optimize your contracts and payment terms & consequently improved payment process.
Supplier set-up and maintenance
This is a process used by Accounts Payable, Purchasing, Inventory and Invoicing. Suppliers include all companies that you deal with or pay. We follow a custom approach and latest software for supplier set-up and maintenance services with all the payee information to see that these are managed effectively.
Direct debit set-up and control
We create Direct debit set up keeping in view contractual terms that involves collecting payment and receipts. This process for supplier set up allows businesses and suppliers to collect the due amount directly from the customer's bank through electronic funds transfer making the process faster and effective.
Supplier payment run
At FinTax Experts India, we have the highly trained professionals who can handle all your supplier payment run needs like ad hoc / weekly/ monthly including international payments and faster payments. The goal is to ensure timely and efficient payments so that there are regular supplies.
How It Works?
At FinTax Experts India, we have customized our Accounts Payable Outsourcing process that is flexible given specific business needs and models. Our Accounts Payable Outsourcing Services involves having detailed undertaking of accounting needs of the business and then executing the pilot project if our clients desire so.
Step-1
Invoice receipt - Customer’s Electronic Invoices are received.
Step-02
Image and Data Capture: All documents are stored as images and all invoice images are viewable.
Step-03
Process & Route – Documents are processed and invoices are routed to the relevant customer executives for approval.
Step-04
Book & Archive - After the appropriate tax reduction, the invoices are posted to relevant General Ledger.
Step-05
Report – We send timely reports with details of overall spent, cost centre wise spent or product wise spent with agreed frequency.
Software Platforms - We Work With
Custom Accounts Payable Outsourcing Solutions For All Your Business Requirements
Accounts Payable Outsourcing, being a specialized service, requires trained accountants and expensive software that are designed for the specific purpose. At FInTax Experts India, we use the premium packages of best available accounting software to ensure delivering the best of accounts payable services with maximum accuracy.
With certified and trained accountants handling your Accounts Payable needs, you can ensure payments to your vendors/suppliers are on time, while you keep full attention to your business.
Accounts Payable Services – Hiring Models
Flexible engagement models with no surprises!!! We understand every business has a different set of requirements. With this objective, we have engagement models linked to per hour working, block of hours or full time dedicated resource allowing you flexibility to choose the best model which suits your needs so you get the maximum benefit out of our services.
Pay-as-you-go (Ad-hoc) model
This is an ideal engagement model for business all sizes, small to large. Under this model, our clients pay only for the numbers of hours we have worked for them. This is a flexible hiring model that allows you to scale up and scale down your work as per your business needs and budget.
Dedicated resource (FTE) model
This is a custom hiring model, designed for the CA/CPA firms and large businesses that need a dedicated team or individuals to work on their project. Under this model, we work as your in-house team, working from a remote location with dedicated team working exclusively for you.
Block-of-hours model
This is very much similar to our Ad-hoc engagement model where clients can buy pre-paid blocs of hours i.e. 10, 20, 30, or 50 hours, depending upon their project needs with an attractive volume-based discount. As we work on your project, hours are deducted from the total number purchased.
Why Outsource Accounts Payable Over In-house AP?
At FinTax Experts India, we understand that managing your professional relationships with suppliers and vendors may be challenging and you should think of outsourcing this task to partner like FinTax because:
- We are over a decade old ISO 9001-2015 certified and ISO/IEC 27001-2013 Accredited Company.
- We have worked for over One Million hours for over 400+ clients across continents.
- A team of skilled 135+ skilled CAs and accountants having a wide range of experience in the area.
- We have multiple and flexible hiring models to match your business needs.
- We follow a strict policy of no outsourcing so all the job is done in-house by experts only.
IN THE MEDIA
At FinTax Experts India, we uphold our mission by working hard every day with an aim to bring value to our clients; which surely have been adequately recognized by way of honors and gratifications we have received from global publications. Few of recognitions reflect our excellence and commitment to client satisfaction & quality.
Dun & Bradstreet
Adreno Technologies India Private Limited is rated as one of “India’s Top 100 ITeS Emerging Companies by Dun & Bradstreet (NYSE:DNB), a FORTUNE Magazine’s Most Admired Companies Industry List Company.
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Spiegel Online
“SPIEGEL ONLINE” a leading online newspaper of Europe in its story “Butlers, designers and teachers talk about their work” published on August 5, 2012 included FinTax Experts among other companies.
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CIO Review Magazine
FinTax gets rated as one of the “20 most promising Finance Technology Solution Providers 2016” by CIO Review in their magazine edition of May 2016…the list of 20 includes many blue chip companies of India.
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Wall Street Journal
The “Wall Street Journal” in its story on "Outsourcing Your Life" in its June 2, 2007 edition covered two Indian companies. FinTax Experts feels pride in being one of the two such Indian companies.
Read StoryClients Speak!
FinTax Experts India boasts on the words of mouth by happy clients
Brandon Gawthorp
I decided to move in slowly with Fintax and start them with small tasks like monthly account reconciliations. After being assigned a team I was amazed with the professionalism, accuracy and speed of their work. I immediately started adding tasks until I was out of that office and was able to get rid of the employee. My assigned team leader Vijay is very helpful in fulfilling my needs.
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