Offshore AP / AR Outsourcing is Advantageous to Businesses, opines IBN Technologies

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IBN Technologies

01 Nov, 2022, 15:30 IST

PUNE, India, Nov. 1, 2022 /PRNewswire/ -- IBN Technologies offers outsourced accounts payable and accounts receivables (AP/AR) services from its global offshore delivery center benefitting SMBs and business owners around the world.

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Outsource AP / AR Services
Outsource AP / AR Services

A lot of AP / AR work can be done online. With the workload of finance and accounting teams and business owners getting heavier each passing day, outsourcing accounts payable and accounts receivables along with services like bookkeeping, payroll and others can have a massive impact on the financial efficiency of any organization. In the post-covid era and with the current talent crisis in the finance and accounts industry, organizations have a chance to offshore outsource AP/AR services and benefit not only by saving up to 50% of their local operational costs, these businesses also get to focus on their core strengths and grow faster.

A recent study says the overall accounts payable market is expected to expand at a 11.20% CAGR. While the P2P (Purchase to Pay) services include multiple steps of creating a requisition, creating a PO and more to completing the process at paying the invoices, services like supplier reconciliation payment processes and handling supplier calls for payments can also be easily outsourced by businesses looking to focus on bettering their efficiency as well as effectiveness of financial and accounting systems.

Following are the main highlights of how IBN Technologies and its Outsourced AP / AR Services Help Businesses and Business Owners in addition to offering a HUGE cost advantage

By outsourcing back-office tasks like accounts payable and accounts receivables, businesses and business owners get process level flexibility, increased capabilities without high investments, faster-to-market advantages and a focus on their strategic strengths. IBN Technologies, as a part of its outsourcing AP/AR services offers coverage for:

Accounts Payable

  • P2P (Purchase to Pay)
    • Create Requisition
    • Create PO
    • PO authorization
    • Sending authorized PO to the requester
    • Receipt of Invoice
    • Invoice approval
    • Posting of Invoices in the accounting system
    • Pay the invoices
  • Supplier Reconciliation 
  • Payment Process
  • Handling Supplier calls

Accounts Receivable

  • O2C (Order to Cash) 
    • Quote Order
    • Process Order
    • Fulfil order
    • Invoice customer
    • Receive and apply cash
    • Manager credit and collections.
  • R2R (Record to Report)
    • Risk management
    • Budgeting & forecasting
    • Management Reporting & Analysis
    • General accounting & reconciliation

With adequately qualified, experienced and a trustworthy finance and accounts team that work on defined SOPs, focusing on improved incremental effectiveness and efficiency, IBN Technologies is well placed to be a dedicated outsourced partner as well as offers extended offshore teams to businesses across the globe.

With IBN Tech, clients get a cloud-based access to keep track of all work done and being done at any given point in time. This offers businesses and business owners the confidence of control over their outsourced AP / AR work. Sourcing quality finance and accounts staff is an on-going and never-ending challenge for businesses in any industry. Offshore outsourcing of accounts receivables and accounts payable processes is a cost-effective as well as process efficient solution and IBN Tech is a leading player in this segment since over 20+ years.

Visit https://www.ibntech.com/accounts-payable-and-accounts-receivable-services/ and get in touch with IBN Technologies for outsourced AP / AR and other finance and accounting services.

About IBN Tech

IBN Technologies Limited is an outsourcing specialist company with clients in the United States, the United Kingdom, the Middle East, and India. The quality of IBN Tech procedures is guaranteed by ISO 9001:2015, 27001:2013 as well as a CMMI-5 certification. In its more than 22 years of existence, IBN has become a leading IT, KPO and BPO outsourcing specialized company in the Finance & Accounting, CPAs, Hedge Fund & Other Alternative Investment business, Banking, Travel, Human Resource & Retail Industry.

Contact Details:

Pradip Gore
[email protected] 
+1 – 844 – 644 – 8440

USA:
IBN TECH LLC
1314 E. Las Olas Blvd #1104, Fort Lauderdale, FL 33301

India: Global Delivery Center
IBN Technologies Limited
42, Electronic Co-Operative
Estate Limited Satara Road, Parvati, Pune, Maharashtra 411009

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