ISO/IEC 27001:2022
We strive to follow the international regulations of ISO /IEC 27001:2022 for handling and processing accounts receivable documents.
10+
Years Of Experience
Explore how our data conversion services enhance productivity.
Keep Your Accounts Receivable Process Organized and Up to Date
Is managing AR activities time-consuming and daunting? Offshore India Data Entry, the provider of offshore accounts receivable services in India, is here to help businesses to manage AR activities efficiently. From invoice generation & distribution outsourcing to remittance processing, we offer customized services to businesses in the USA, UK, and Australia to keep their financial records accurate and structured.
Whether you want short-term assistance or ongoing support in accounts receivable, you can approach us, and we shall deliver solutions with 99.95 accuracy.
Outsourcing vs. In-House Accounts Receivable Support
| Benefits | Outsourcing | Inhouse |
|---|---|---|
Cost Efficiency | Minimizes the need to invest in an accounts receivable team, infrastructure, and technology | Requires spending on hiring and training experienced financial professionals and technology |
Access to Expertise | Access to skilled financial experts with wide knowledge in accounts receivable | Requires hiring and training employees to handle activities related to accounts payable support |
Scalability and Flexibility | Accounts receivable support can be scaled easily and efficiently | Scalability is time-consuming and expensive |
Quicker Processing | Dedicated financial experts use advanced technologies and manage the accounts payable process efficiently | Processing depends on the expertise of the in-house team |
Operational Continuity | Experienced support helps maintain accounts receivable activities up to date always | Staff shortages and limited resources can sometimes affect daily operations |
How Does Offshore India Data Entry Help Overcome Accounts Receivable Challenges?
Managing invoices, generating invoices, tracking payments, and receipt posting are activities that take away considerable time and resources from companies. Understanding this, we offer accounts receivable service that help businesses overcome these challenges and carry out their AR activities better. Leveraging the power of experienced financial experts and technologies, we support businesses in handling these operations while allowing their financial experts to focus on other core activities.
- We create accurate invoices by collecting data from approved orders and billing information.
- Our experts share invoices through email, customer portals, and other agreed channels securely.
- We review the entire invoices to ensure accuracy before final delivery.
- We track outstanding customer balances and invoices that are approaching due dates.
- Our experts send alerts or reminders based on the agreed communication methods.
- OIDE, the trusted accounts receivable outsourcing in India, keeps an organized record of customer responses
- We compare the incoming customer payments with the appropriate invoices.
- Our experts process a small volume of payments and bulk remittances based on your requirements.
- We post receipts accurately to appropriate accounts.
- We create and issue customer statements as per the agreed schedules.
- Our experts process remittance advices and cross-check payment data against the invoice records.
- OIDE, the trusted accounts receivable outsourcing in India, identifies the differences between the records and shares them for review.
- We generate aged receivable reports mentioning the outstanding dues.
- Our experts at OIDE, track indicators to understand the collection performance.
- OIDE supports credit checks for new customers and delivers relevant data to support businesses in keeping suitable limits for the credits.
- We use AI-powered tools to capture marked data from checkboxes, surveys, answer sheets etc
- We include AI-powered OCR and ICR to identify and analyze marked responses.
- Our AI OCR solutions will help businesses to manual effort in processing large volumes of OMR sheets and improve accuracy in OMR data capture.
- We collect data using AI-powered OCR software and convert them to specified formats.
- Human experts are included to validate the accuracy of extracted data
- Help businesses to use data on digital platforms where different formats are supported.
Why Choose Our Accounts Payable Support?
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 150+ clients in accounts receivable service.
Case Studies on Accounts Receivable Support
Case study 1
A wholesale distribution company in the UK struggled to manage high volumes of invoices every month. From payment posting to creating customer statements and overdue follow-ups, there are many activities their team had to handle. Understanding the requirements, we supported the company by deploying a strategic workflow. That is, our experienced AR experts handled activities including invoice processing, receipt posting, statement creation, and payment follow-ups on time. With our service, the company gained 99% accuracy in processing and reduced the workload of their in-house team.
Case Study 2
A logistics company in Australia approached OIDE when they needed support in reconciling payments and tracking outstanding invoices. We helped them by processing 2000 invoices within the given time and identifying unmatched payments and account errors. Through our customized accounts receivable service, the company was able to gain a clear understanding of their overdue accounts and minimize manual workload. We also provided regular reports which helped the finance team to track receivable data more accurately.
Accounts Receivable Service Frequently Asked Questions
01
Accounts receivable means assigning specific receivable tasks to an external service provider. If you are planning to partner with OIDE, you can expect support in the following domains
- Invoice Generation & Distribution
- Credit Control & Payment Chasing
- Cash Application & Receipt Posting
- Customer Statement & Remittance Processing
- Dispute Logging & Escalation
- Aged Debtor Reporting & Credit Checks
By picking our relevant accounts receivable service, businesses can reduce routine workloads and keep organized financial records.
02
Not necessarily. We can handle your needs by following the communication procedures and requirements set by your brand.
03
The cost of accounts receivable service varies on the basis of invoice volumes, number of customer accounts, complexity, and service frequency. To know the price of your service, you may contact the experts at OIDE, the provider of the trusted accounts receivable outsourcing service in India.
04
We conduct strict quality checks to identify errors and inconsistencies. If any unclear information is flagged, we connect with the client to clarify it.
05
You can start by sharing your project requirements, complexity, data volume, and expected scope of support. Through our personalized accounts receivable service, you will be able to manage tasks efficiently and maintain strong accounts receivable records.