Invoice Processing Services
- One of the best Invoice Processing Services in India
- Leave the invoice processing to us, and we guarantee success
- High-level of efficiency and speed up your accounts payable receivable
- Reduce the amount you spend on invoice processing
- Your information is 100% safe and secure in our hands
- Our team of professionals and experts will be there to guide you through the process
The importance of invoice processing and difficulties commonly encountered.
Every business provides either a service or a product in exchange for a particular value. No matter what the business may be, invoice processing is a crucial part of them all. Evidence or documentation of these transactions is seen through invoices. A growing business will find itself increasingly swamped with the number of invoices they receive as a result of the many transactions they make. It’s easy to feel overwhelmed by their sheer quantity and all the processing that needs to be done.
Accuracy is another factor that you must look out for. Even a single error in processing these invoices can lead to ripples of dissatisfaction and discontent amongst your customers and suppliers. Underestimating even such menial tasks as invoice processing can affect your overall business efficiency and put a damper on the whole thing.
Most businesses tend to deal with two types of invoices: Invoices based on Purchase Order (PO) and Invoice based on Non-Purchase Order (NPO). Both types are processed by the Accounts Payable Department. Invoice processing can be done either manually or via automated software. But as is usually the case with such matters, manual invoice processing is a time-consuming and laborious task. On the other hand, investing in automated software might not be as convenient for some businesses. There are the costs to consider, too!
How can we help?
This is where we, Especia, come in. Outsourcing your invoice processing is one of the best ways to go about handling this tiresome task. We at Especia provide invoice processing services to Indian businesses. Our services will help you achieve a high level of efficiency while also helping you speed up the accounts payable receivable.
Especia has provided its services to businesses and industries of all shapes and sizes. From small to moderate-sized businesses, our services have helped them better manage their accounting tasks, payroll management, tax calculation, and more. Furthermore, our aid has also helped them bring down their overall capital cost involvement.
What are we offering in this service?
➤Access to high-end invoice processing software
➤Creating receipts for electronic invoices
➤Purchase orders are matched to invoices
➤Handling, testing, and cashing of invoices
➤Scanned invoices are audited
➤Automated data entry (manual available, too)
➤Indexing of documents
➤Extensive reports are generated
➤Obtaining invoices from clients
➤Reconciling scanned and audited invoices
➤Tracking every transaction you make
➤Providing PO receipts for supplier invoices
Our Process: Invoice Processing Services
1. Obtain invoices: You share your invoice with us either by email or through cloud storage services such as Dropbox or Google Drive
2. Processing of Invoice: Our experts will review and analyze these invoices for any potential inaccuracies or omissions
3. Invoices sent: Once processing of the invoices is completed, the data entry process begins into the accounting software you have personally chosen.
Benefits of hiring us for Invoice Processing Services:
➤Regular reports: We will constantly provide you with detailed reports of all your reconciliation summary statements and invoices
➤Team of experts: Our team of invoice processing experts is very experienced and qualified. We will be with you every step of the way.
➤Automatic processing: Why not choose us instead of spending an exorbitant amount on expensive invoice processing software? Our services help you save.
➤Cost reductions: Any costs that you may have incurred by investing in hiring in-house invoice processors or the long-term cost implications that may have followed are saved.
➤Efficient: Whether the time period is long or short, our invoice processing services are always fast and efficient, without any compromises on accuracy.
➤Confidentiality: We value your data and guarantee its safety. Using our efficient data security measures, your information will be completely confidential.
FAQs Related to the Invoice Processing Services
What exactly is invoice processing in ‘accounts payable’?
Invoice processing in accounts payable refers to the process centered around supplier invoices, i.e., all the steps that take place from the moment you receive the invoice till the final moment where you pay it. Depending on the size of the business, the complexity will vary. Large businesses have longer and more detailed processes to manage, while smaller businesses have to deal with a much shorter process.
Is outsourcing invoice processing truly safe?
Yes, definitely! Invoice processing that is outsourced is just as safe as any other accounting task you may also choose to outsource. Worries about your financial information being used for the wrong reasons are common. For that reason, it is important to pick the right outsourcing partner to ensure your data isn't at risk. A Non-Disclosure Agreement (NDA) could also be signed to put you at ease further.
How does one automate their invoice process?
One way to automate invoice processing is to hire an invoice processing professional who will help you use any invoice processing software you may have purchased. However, hiring a professional comes with additional expenses. A better alternative is to outsource your invoice processing instead. Cheaper, efficient, and convenient!
What is automated invoice processing?
Invoice processing automation involves using high-tech software to automatically perform the various steps involved in an invoice's life cycle. This process can be both automated or even manually performed by accounts payable. The choice is yours.
How does invoice processing software work?
Compared to traditional invoice processing, invoice processing software streamlines the process immensely. First, invoices are scanned and imported into the system. The software converts scanned data into electronic data for easier extraction into the management system. You can also create a text-searchable document. The software is also very adept at looking over data such as supplier, quantity, etc.