Accounts payable outsourcing services in USA

When you outsource your company's accounts payable process, a third party is hired to run it. These BPO providers can carry out your company's accounts payable operations because they have the necessary equipment and technology. At Avidity, we have qualified experts to satisfy the demands of our clients and go above and beyond their expectations.

Our outsourcing clients require timely vendor bill payments and accurate invoice processing. We at avidity provide a Full Package of Solutions. For your procedures, we build an Accounts Payable Team specifically for you. We can work on our cloud platforms and connect to your systems to push files, or because our teams are agile, we can simply adapt to your current systems. Team Size That Can Be Scaled to Support Your Changing Accounts Payable Needs We will manage your team, whether it has five people or more. We are experts at adding automation to your existing process. Our Center of Excellence (COE) practice adds value to our customers.

Your present operations will be immediately improved by outsourcing your accounts payable.

That will give your Account payable department high-quality processing in a significantly quicker cycle time. Your month-end closing cycle will be reduced as a result. Our accounts payable analysts have experience with and training in various accounting systems. As a result, the job can be transferred smoothly to your outsourced team. So that your staff may move on to duties that bring more value, let us handle the process from receipt to approval and payment.

With the help of Avidity's comprehensive accounts payable outsourcing services, procurement teams may streamline the payment portion of their procure-to-pay processes by handling everything from invoice collection, scanning, and processing to exception management and payment reconciliation. This helps to improve compliance, shorten processing times, and enable value enhancements like dynamic discounting and adequate batch payments.

We can assist with tasks like comparing and connecting a supplier invoice to the raw data that forms the basis of the total cost, such as a goods delivery receipt and a purchase order or contract. Typically, this is difficult and takes a lot of time, but our experts can complete it for you with high quality

We at avidity handle all aspects of processing your purchase orders, including creation, order approval, shipment, billing, delivery, and closure. We also include contract management, budget checks, and quality assurance.

We process your monthly Account payable ledgers in a professional and trustworthy manner. For clients worldwide, our avidity staff has successfully produced several monthly Account payable ledgers.

We at avidity can assist with processing typical pricing information for whatever your needs.

We are a top-tier supplier of AP processing services and adhere to a structured and methodical methodology for doing so. Important steps in this process include

We will receive your paper and electronic invoices at the beginning of the invoice receipt process.

You may view all invoice photos, and your documents will be preserved as images

The invoice papers are processed at the "Process and Route," after which they are sent to the appropriate client executives for review and a decision.

The approved invoices will be uploaded to the customer's A/P system for payment using standard interfaces across all accounting platforms. The invoices will then be filed as "regular" in General Ledger once this is complete. Since Avidity also handles disbursements, the physical copies will be kept in our facility, while the digital versions will be accessible online.

A company's unpaid receivables to third-party vendors for purchases made on credit are managed through payables management.

Processing and reporting should be done in a shared service environment. This guarantees that everyone at work follows the same norms and procedures. It's critical to evaluate everyone's performance using recognized metrics. This makes it possible for a business to complete more tasks in less time.

This improves internal controls, contract review, and manual error across the accounts payable process.

Receiving the PO from the buying department, receiving the invoice from the vendor, matching/validating the PO and the invoice, approval, and final payment to the vendor make up the accounts payable process entire cycle. To prevent spending errors and fraud, these actions are crucial.

A purchase order (PO) is a contract that the business issues to the vendor that outlines the sort of product or service being ordered and the quantity and price agreed upon. For major businesses, the PO process involves several parties, including the department or person making the request, the purchasing department, the accounts payable department, the receiving department, and the vendor.

The report on goods and services received from the vendor confirms that the ordered goods and services have been obtained. The details on the receipt report must correspond to those on the earlier-issued PO.

The firm would receive the invoice/bill for the product from the provider of the goods/services concurrently with or after receiving the ordered goods. The vendor invoice is what it is known as on the business end. The AP department is solely in charge of processing vendor invoices. They confirm the information on the invoice through a three-way match between the PO, receipt report, and vendor invoice, and they schedule payments after approval.