ISO/IEC 27001:2022
We strive to follow the international regulations of ISO /IEC 27001:2022 for handling confidential financial documents.
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Manage Your Accounts Payable More Efficiently
Are thousands of invoices taking up your finance team’s time? Processing invoices is time-consuming and has to be carried out efficiently to avoid financial losses. Hence, Offshore India Data Entry, the trusted accounts payable outsourcing company in India, is here to help you with our accounts payable service.
By combining technology with experienced financial professionals, we support businesses in the USA, UK, and Australia to manage simple and complex accounts payable tasks more easily and efficiently. You can think of OIDE, the trusted accounts payable outsourcing company in India, when you want to process your invoices with 99% accuracy.
Outsourcing vs. In-House Accounts Payable Service
Choosing between in-house OCR/ICR and outsourcing depends on your particular requirements.
| Factors | Accounts Payable Support Outsourcing | In-House Accounts Payable Support |
|---|---|---|
Cost Efficiency | Minimizes the need to spend on technology, infrastructure, and skilled financial experts | Requires investment in salaries, recruitment, and other resources |
Access to Expertise | Access to professionals who have relevant knowledge and expertise in accounts payable | Need to hire professionals with high expertise and provide regular training to keep them updated on financial trends |
Scalability | Accounts payable support can easily be increased | Difficult to scale up the services as they depend on the available resources |
Research Speed | The dedicated Accounts Payable team can complete the tasks within the defined timeframe | Processing capacity depends on the available in-house resources |
Data Validation | Accounts payable experts verify the entire data before the final delivery | Validation depends on the internal resources |
How does OIDE, the Leading Offshore Data Analytics Outsourcing Company, help overcome challenges in Accounts Payable Support?
Accounts payable experts often deal with challenges like repetitive invoice processing, multiple approvals, and time-sensitive payment schedules. Recognizing these, OIDE, the leading provider of accounts payable services, supports you in overcoming these hurdles with our dedicated professionals and strategic workflows. Whether you want to process a few invoices or large volumes of invoices, we can handle them efficiently and deliver customized solutions. Partner with us, when you want to improve payment visibility and keep clean financial records.
- We collect invoices through various channels like portals, PDFs, email etc
- Our experts gather and transfer invoice details accurately to specified platforms.
- We analyze the entered data to identify inconsistencies and fix them in real time
- Our experts compare the invoices against the purchase orders and goods receipts to validate the details.
- We also conduct double audits to ensure the accuracy of data.
- Our service helps businesses ensure smooth and accurate transactions.
- We route invoices to the appropriate approvers.
- Our experts track the pending invoice and do the necessary follow-up at the proper time.
- Through our service, we help businesses to maintain clear records of invoice status.
- We create payment runs based on approved invoices.
- Our experts review the pending invoices and requirements.
- We share the payment details with the client for review before invoice processing.
- The finance and accounting experts at OIDE review supplier statements against the ledger data to identify differences.
- We identify missing details, duplicates, and errors.
- Our experts coordinate with the supplier teams to fix the issues.
- The accounts payable experts at OIDE manage the queries related to invoices and outstanding dues.
- Create accurate records of supplier communications.
- Generate reports and provide personalized support for month-end closing activities.
Why Choose Our Accounts Payable Support Services?
HIPAA and SOC 2 Type 2
Our processes are designed to support key practices of HIPAA and SOC 2 Type 2 to ensure the security and integrity of your financial data.
300+ Projects Delivered
We have supported 100+ clients in accounts payable support services.
Case Studies on Accounts Payable Support
Case study 1
A manufacturing company in the UK needed support in managing the data entry and approval follow-ups of 1,500+ invoices. We helped the company by handling the data entry of invoices and approval tracking within the given timeframe. In addition, our team also supported the company by reviewing the invoices for missing details.
As a result, we delivered solutions with 99% accuracy, helping the company improve invoice record accuracy and reduce the internal finance team's workload.
Case Study 2
A logistics company in the USA was struggling to reconcile over 300+ supplier statements each month, and they approached OIDE for support. Understanding the requirement, we deployed a strategic approach to carry out the project efficiently. As part of this, our financial experts reviewed the supplier statements against the records, identified the issues, and followed up on the unresolved items.
With our service, the company could reconcile every supplier statement for the given months, and they were able to keep more accurate supplier records.
While functions including data extraction, data classification, OCR recognition, and primary validation were managed with AI, we involved our experts to manage complex documents and final validation. By using 65% AI potential and 35% human expertise, we completed the digitization of entire records within the deadline.
The result was that the client was able to access, manage, and share their documents quickly and effortlessly.
Our AI document processing service reduced patient onboarding time by 40% while maintaining 99% accuracy and full adherence to HIPAA standards.
Accounts Payable Support Frequently Asked Questions
01
Accounts payable support includes the activities related to outgoing payments. From invoice data entry to purchase order matching and AP reporting, there are many tasks involved in accounts payable support. Businesses can outsource accounts payable to India to reduce day-to-day workloads and keep the records clean and organized.
02
Yes, we extend continuous accounts payable support based on your business requirements. That is, whether it is regular invoice management, report creation, approval tracking, or any other related activity, we can handle it efficiently and accurately.
03
Yes, we can check for data duplicates and prevent them in payable records. With our accurate duplicate detection process, businesses will not only be able to reduce duplicate payments but also keep clear and more organized records.
04
We can support the payment processing by collecting and organizing payment data from the approved invoices. In addition, we will also help businesses monitor due payments and respond to supplier queries effectively.
05
Our team performs comparisons and quality checks to identify the errors, and inconsistencies. If any unclear data are found during the quality checking process, we contact our clients and clarify them before we enter them into the records.