Your accounts payable process has a huge impact on your cash flow, regulatory compliances and supplier relationships. But many companies still struggle with manual data entry of paper-based documents, leading to costly discrepancies and inefficiencies.
QX will deliver higher accuracy and decrease operations costs through process excellence, standardized accounts payable (AP) practices, and strategic use of automation. By introducing efficiency to your processes, we help you improve management of working capital and enhance visibility of your financial liabilities.
Through our services, your organization will be able to exploit new avenues of cost savings, strengthen compliance and controls, and build smoother supplier relationships.
Who can benefit from QX accounts payable services?
During the last decade, we have worked with small businesses, SMEs and large, listed organisations in recruitment, healthcare, student accommodation, software engineering, media & publishing and manufacturing industries to deliver significant cost reductions with improved accuracy. Leveraging our bespoke software development capabilities, we have developed and implemented purchase order (PO) systems for our clients, successfully transforming paper-based processes to electronic.
Our services are ideal for any organization that wants to slash the cost of AP processing while benefitting from automation and process excellence.
Our services are designed to help you understand and control your expenditure through process efficiency. We offer a high – over 99.5% – accuracy rate, ensuring a smooth AP process that allows you to focus on your mission-critical and higher-end tasks. QX Finance & Accounting Services deliver:
Supplier set-up and maintenance
Supplier invoice posting in line with financial policies and checks
Maintain the supplier ledger and records
Document management with in-house customised DMS
Maintain details of authorised and disputed invoices
Direct debit set-up and control
Supplier statement reconciliation
Establish necessary controls in place throughout the process
Expense claim processing (temporary and permanent workers)
Supplier payment run: ad hoc/weekly/monthly including international payments and faster payments
Supplier Helpdesk – Dealing with chasers, supplier queries and escalating issues
QX Purchase Order system
We can work with your existing PO system or use QX’s proprietary PO system to streamline and digitise your accounts payable process. Please see below the features and the process flow of the QX PO system.
Easy supplier management
Seamless modular integration
Support for multiple locations
Role-based user management
Easy-to-use, attractive dashboard
Multiple approval system through automated email
Choose QX for hassle-free accounts payable outsourcing
Reduced processing costs
Paper-based AP processes relying on manual entry have high costs and can lead to losses. Our services bring process excellence and automation to slash costs by up to 50%.
Professional and dynamic leaders with over a decade of experience deliver value benefits which increase exponentially in the form of the learning curve effect. Strategic automation helps reduce risks of manual processes.
Control over finance fraud through a set up of robust internal controls and methods of prevention and fraud detection. Staff training for fraud awareness mitigates risk of human errors.
To ensure you remain in control, we follow a pre-agreed multilayer authorisation hierarchy for posting/disputing/paying any supplier invoice.
High visibility and accountability
Gain visibility on the AP processes on a daily and weekly basis with submissions on a process dashboard. Set up conference calls with a single point of contact.
We help implement cloud accounting using Xero or other preferred software. Receive bills electronically, improve inventory tracking, and get complete visibility of your spending.
We work with your systems to seamlessly integrate our service. The systems we use include the following but if you don’t see yours here, it doesn’t mean we cannot work with it – just let us know:
Looking for reliable and accurate accounts payable outsourcing services?
Our accounts payable specialists would love to help.
Off Mill Bridge
North Yorkshire BD23 1NJ
T: 0845 838 2592
F: 01756 703 890
18 Broad Street
T:+1 646 693 9695
201 GNFC Infotower
S. G. Highway, Bodakdev
Ahmedabad - 380054