Outsourced vs In-house e-Invoicing Solutions

Outsource invoicing

Employees are the lifeblood of a company, and when they are tied up with unnecessary tasks, their productivity goes down. Employees steer your company toward a unified goal, making sure things get done. Freeing your employees from processing invoices means that they can be assigned to other areas where they are the most needed. It eliminates tying up your employees with unnecessary meetings and training. They can spend more time collecting from delinquent accounts and focusing on relationships with your vendors.

Outsource invoicing

Handling invoice processing can be a meticulous task, but an outsourcing company can help you with prompt and precise deliveries. You’ve heard “to err is human,” and that applies to your company’s employees as well. Automated payroll processing eliminates under or overcharging on an invoice, or misstating what a charge was for. Processing services have the automation software to ensure there are no mistakes in invoicing.

Outsource Invoice Processing Services – Pros and Cons

There’s no doubt that when you outsource invoicing services, you will also be able to streamline your invoicing operation. When and if you ever decide to outsource invoicing services, you will notice a sudden spike in productivity. Any non-core services and business processes can be outsourced to experts—given that they’re experienced, willing to learn, and eager to work with you. In the event that you are a B2B or B2C company, you will go over endless invoices every day. This tedious activity will take a ton of valuable worker hours of your in-house group, which you could have generally used to deal with your core business tasks.

Since their business model is built on low processing costs for invoices, they may kick exceptions processing back over to you or your team. It’s not at all uncommon for AP departments to become completely overwhelmed by their workload. Outsource invoicing This is especially prevalent when businesses experience periods of rapid growth, which is often accompanied by an increase in invoice volume. While this is great for sales, it also puts additional pressure on your AP staff.

Our services not only help you to bypass such problems, but also guarantee higher quality and maximum accuracy when it comes to processing invoices. When you outsource your invoicing process, you are freeing up time for your team to focus on the core activities that will help your staffing company grow. There are several benefits to outsourced billing and invoicing with the right provider—especially in the macroeconomic climate we currently find ourselves.

Having a dedicated team handle the invoicing process can help to streamline your business operations. This will make it easier for customers to pay you, and for you to manage your finances more easily. In addition, invoice processing outsourcing can help to simplify your workflow by reducing the number of steps involved in processing invoices. This can save you a lot of time and effort, and make it easier for you to keep track of your finances. One of the main benefits of outsourcing your invoicing is that you can automate and integrate your processes and save time, money, and effort. You can use software tools, apps, or plugins that can connect your invoicing provider with your accounting, CRM, or payment systems, and streamline your workflow.

Enhance Your Image As a Professional Business

When you outsource invoicing services to providers like Staff Domain, your bookkeeping tasks can also be effectively managed and prioritized by a team of skilled employees. Opt for Computyne’s outsource invoice processing services and enjoy a high-quality seamless business experience with precise results at competitive pricing. Outsourcing your invoicing process is the best way to ensure that your employees are getting paid on time. It also frees up valuable resources for staff members to focus on other core activities or services, while simultaneously providing greater value and improved morale. Over the past 19 years, we provide global organizations with customized invoice solutions for the automatic handling and processing of credit notes, supplier invoices, and accounts payable information. Being a reputed invoicing specialist, we have over 100 active customers and process 130,000+ invoices every day.

  • If your invoices are not sent to the correct recipient, chances are that it may be in your lost pile of invoices that will never be paid.
  • This means that you can avoid costly mistakes and ensure that your payments are processed quickly and without issue.
  • Another benefit of outsourcing invoicing is reducing the risk of late payments.
  • In addition, this team will also likely have access to better tools and software which will make the entire process run even more smoothly and efficiently.

While mistakes are inevitable with any manual process, duplicate payments cost businesses money; a lot of money in fact. In an earlier blog post, we explained that manually processing a single invoice can cost as much as $30. Accounts payable outsourcing is the business practice of using a third-party vendor to administer invoice or bill related processes. The list of services varies but the vendor will generally perform functions such as invoice capture, purchase order (PO) matching, and processing, payments, archiving records, and reporting.

Payroll Processing Services

For example, electronic invoicing is possible and you can also do automated follow up. Payt automatically starts a reminder process in which you have full control. So you don’t have to keep track of which outstanding invoices need reminders and send them yourself. You can link Payt with various integrations, such as Exact Globe or Exact Online. For example, if you want to outsource accounts receivable management to an accounting firm, you often have to pay more.

Last but not least, outsourcing your invoicing process allows you to increase your flexibility. This means that you can avoid costly mistakes and ensure that your payments are processed quickly and without issue. Sometimes confusing invoices happen when you have multiple products and services. Another cause for confusion is when your invoicing language and format is not organized, or if you use different Purchase Order (PO) numbers. Remember that if you want to get paid on time, you have to include accurate information on your invoices.

  • Our degreed leadership and team of accounting professionals have the knowledge and skills to handle a wide variety of situations.
  • This is because invoice processing services usually have access to technology and resources that allow them to process invoices quickly and efficiently.
  • Let’s cover the benefits that outsourcing billing and invoicing specifically can provide your business.
  • Entrusting your invoicing to someone on your staff who doesn’t normally handle this delicate process can invite disaster.

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing. With 15,000+ articles, and 2,500+ firms, the platform covers all major outsourcing destinations, including the Philippines, India, Colombia, and others.

Customer Success Stories

The first and most important step is to find a provider that can meet your invoicing needs and expectations. You want a provider that has experience, expertise, and reputation in invoicing, as well as a clear and transparent pricing structure, a user-friendly platform, and a responsive customer service. You also want to check their reviews, testimonials, and references, and ask for a free trial or demo before signing a contract. Don’t settle for the cheapest or the first option you find, as you might end up with poor quality, hidden fees, or delayed delivery. Some businesses use programs and apps to automate their payment processes, opening up their invoice to inevitable machine errors. One of the most obvious reasons why companies and businesses turn to outsourcing is to save resources.

Without debtor management, you have no overview of outstanding invoices and cannot take action to get them paid. This is unfortunate, because the very idea is to get the invoices settled. Your company must stay on top of compliance when it does its own accounts payable department.

Outsourcing enriches the customer experience and tightens efficiency, accuracy, and security. Simply put, that means you’ll grow your customer base, close more sales, and keep more of the money you make. In outsourcing your invoice processing tasks, it’s natural that you will share sensitive/regulated data with the invoice processing company. Issues in invoice processing service may cause late payments, which can hurt the company’s reputation and can also be financially costly in the form of penalties. Specific to invoice processing, companies use outsourcing to allow their team to focus on the core aspects of the business and move the important but less critical invoice processing tasks outside the company. You still need to review and improve your invoicing regularly, and make sure it meets your goals and expectations.

In addition to that, it is an excellent way to reduce your in-house operational costs and save on finances that go into training and infrastructure building. Computyne is well known in India and overseas for being your best bet to outsource invoice processing and invoice data entry services. We are equipped with state-of-the-art technology and all the latest tools that help us generate invoice processing data at a quick speed. We have been providing top-notch invoice processing solutions to clients in India and overseas since 2009 with satisfactory results. By choosing an outsource invoicing provider, you can also help to save on labor costs. Because the team processing your invoices will be specialized in this task, they will be able to do it more quickly and accurately than someone on your staff who may have other duties to attend to as well.

This is because you miss a contact moment that you would normally always have. For instance, you can implement Stampli’s best-in-class AP Automation software and train your team within days. It would take you a week just to set up introductory calls with outsourced vendors. If you truly just don’t want the headache of accounts payable and you’re willing to accept some of the limitations listed above, then outsourcing may be a good fit for you.

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